Would-be first-time buyers have the biggest choice of low-deposit mortgages in 18 years. New data shows 537 mortgage deals allow borrowing 95% of a property's value, nearly double the 274 deals from February 2024. Financial data provider Moneyfacts says this is the highest number since March 2008. Rachel Springall from Moneyfacts said, "This year is setting itself up to be a fruitful one for first-time buyers, and really, they need all the help they can get amid the lack of affordable housing." New fixed-rate loans for 95% borrowing start at about 4.47% for two years and 4.53% for five years. If buyers have 10% deposit or more, even more mortgage deals are available. At the beginning of February, there were a record 981 mortgages with 90% loan-to-value. Santander recently launched a mortgage allowing first-time buyers to borrow 98% of the property value with a minimum £10,000 deposit and a five-year fixed rate. Skipton and Yorkshire building societies offer loans up to 100% and 99% respectively, but with some restrictions on applicants and properties. Research from the Building Societies Association says many first-time buyers are closer to owning a home than they think. Surprisingly, 47% have never asked a lender or broker about mortgage options, and 46% who did hadn’t done so in the last year. When shown deals with small or no deposits, two-thirds said they could buy sooner. The BSA said this reveals "a clear gap between perception and reality."