5% Deposit Mortgage for First-Time Buyer with Adverse Credit

Case Study

Loan: £229,250

LTV: 95%

Introducer Commission: £1,197

 

A first-time buyer with a 5% deposit faced multiple challenges: recent arrears, two small CCJs, high LTV (95%), and a concrete construction property. After failing AIP checks with high street banks, their broker contacted Brightstar seeking a specialist solution.

 

Steph Healey worked with a lender who manually underwrote the case, accepting the 95% LTV mortgage at 7.04% – provided the husband (not on the application) signed an occupancy waiver. The property was deemed mortgageable, and the deal was secured.

 

This case demonstrates that a 5% deposit and adverse credit don’t have to be barriers – at Brightstar, we can make homeownership possible for your clients.

 

 

Subject to status. Product and criteria availability is subject to change or withdrawal at any time. For intermediaries only.

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.