First Time Buyer Schemes and Low Deposit Mortgages in Hove and Portslade

9 January 2026

First Time Buyer Schemes and Low Deposit Mortgages in Hove and Portslade – 2025 Summary

Saving a deposit is often the toughest part of buying a first home in Hove. With local prices where they are, even 10 percent can feel like a huge amount of money.

The good news is that there are a few different ways to get on the ladder with a smaller deposit, especially if you are open to looking at areas like Portslade and Southwick as well as central Hove.

Low deposit mortgages – 5 to 10 percent

Many lenders will still look at:

10 percent deposits as fairly normal
Some products at 5 percent deposits for the right applicants

To use these, you will usually need:

A good credit history
Strong affordability on the lender’s checks
A property that fits standard criteria (for example not above a takeaway or in very poor condition)

These options can be attractive for buyers who have decent income but less saved.

Family help and gifted deposits

Family support is very common in Hove and nearby.

This can include:

Straightforward gifted deposits from parents or relatives
Savings held in a family member’s account as additional security
More structured family assisted mortgage products, depending on the lender

Getting the paperwork right is essential, so it is best to talk through family help early on in the process.

Shared ownership

Shared ownership can offer a smaller step onto the ladder by:

Letting you buy a percentage of a property (for example 25 to 75 percent)
Paying subsidised rent on the remaining share
Allowing you to buy more shares over time through staircasing

This can work well for buyers who are happy with a flat or smaller house in or near Portslade or outer Hove but cannot yet afford 100 percent of the purchase.

New build and developer incentives

If you are looking at new build developments:

Some offer contribution towards your deposit or legal fees
Energy efficiency tends to be better, which can help with running costs
Incentives need to be disclosed to lenders, as they can impact valuation

Always look at the overall picture including price, incentives and any service charges.

Government support and policy changes

Support schemes and criteria do evolve. The key is to:

Check what is currently available when you are actively looking
Make sure any scheme is compatible with the type of mortgage you want
Get clear, up to date advice before relying on a specific route

If you would like to know which first time buyer routes fit your situation best right now, you can get in touch through the contact page and we will talk you through the options.