Not quite – but almost. All signs are pointing towards a big bounce back after the number of 95% mortgage applications have grown at an astounding rate during the last couple of months, with new 5% deposit mortgage products being released on an almost daily basis.

In fact, after an extremely tumultuous 12 months it seems as though it’s going to take more than a global pandemic to keep the mortgage market down.

Industry sources are even claiming that the number of available low deposit mortgages stands at 75% of what was available before the pandemic hit, which is remarkable considering where the UK economy was even as little as a month ago.

As a Guildford mortgage broker with access to an exclusive panel of mortgage lenders and a national portfolio of mortgage products, we’re seeing it for ourselves. ­­­We’ve handled significantly more first-time buyer mortgage applications during the last 30 days compared with the same time last year and May 2021 enquiries were drastically up on May 2020.

From Complete Mortgages’ perspective there are three reasons for this mortgage ‘gold rush’. These include:

1. The ongoing easing of lockdown restrictions in parallel with pent-up demand for good mortgage deals after 12 months of fewer mortgage applications

2. The stamp duty holiday, which has reduced the property tax bill of swathes of the UK’s population

3. The launch of the Government’s mortgage guarantee scheme, which will ensure that those with as little as 5% can still get a mortgage on a property worth up to £600,000

These three factors alone have created a wave of mortgage enquiries similar to what we tend to see after the Christmas lull. Spring is always a busy time for homeowners and would-be homeowners, but this spring is really in a league of its own.

We only anticipate this level of interest to grow in the lead up to summer, so if you are a first-time buyer looking for a first-time buyer mortgage, and you have a deposit worth somewhere between 5-10% of the property you’re hoping to buy, then we would urge you to get in touch sooner rather than later.

Contact our team of Guildford mortgage advisers today by calling 01483 238280 or by emailing We also specialise in Guildford buy to let mortgages, commercial mortgages, limited company buy to let mortgages and adverse credit mortgages.