More UK lenders are offering mortgages requiring only a small deposit, or none at all, as banks and building societies relax affordability rules to help first-time buyers onto the property ladder. Metro Bank has become the latest high street lender to offer a deal allowing eligible first-timers to borrow up to 100% of a property's value, following a similar move by Lloyds, in a revival of a type of lending largely abandoned after the 2008 financial crisis.

Lloyds' deal, launched in May, requires a minimum deposit of just £5,000 (a loan-to-value just over 98%) at 5.89% on a five-year fix, but is capped at properties worth £300,000, limiting its use in pricier areas. Santander offers up to 98% loan-to-value at 5.49% on homes up to £500,000 with a £10,000 minimum deposit, while Skipton and Yorkshire building societies allow borrowing up to 100% and 99% respectively, aimed particularly at renters. Brokers also note growing availability of "joint borrower, sole proprietor" mortgages, which let a relative or friend's income boost affordability without giving them legal ownership, though all named borrowers remain jointly liable for repayments.