17/07/2026
If your dad gave you £6,000, then what?
How about your first house?
Leeds Building Society have just launched their Start mortgage range, and a gifted £6,000 is enough to get the deposit sorted on a £300,000 home.
Here’s what’s in it.
• Maximum loan £500,000
• £5,000 minimum deposit
• Gifted deposits welcome
• Up to 5x household income
• 5 year fixed products only
• Self-employed applicants included
• 95 to 98% LTV, new builds excluded
• Minimum £30,000 gross household income
Rate: 5.65% fixed for 5 years.
Not the cheapest on the market.
Wasn’t built to be.
Shall we run the numbers?
• House value: £300,000
• Deposit: £6,000, gifted or saved
• Mortgage: £294,000
• Term: 30 years
• Monthly payment: £1,695.80
At 5x household income, that mortgage needs £58,800 coming in.
Split two ways, that’s £29,400 each.
Those figures assume a clean credit file and don’t account for dependants or existing credit commitments.
This is one example and outcomes will vary depending on circumstances.
Halifax opened a similar door back in May.
Leeds have just walked through it and left it propped open.
Forget the rate.
The real story is self-employed applicants and gifted deposits built into the criteria, not squeezed in round the edges.
£25,000 used to be the number. Now it’s £6,000 and one slightly awkward phone call to your dad.
Who’s calling their parents this weekend??
