Looking to get on the property ladder or help your children become homeowners? Lloyds could allow first time buyers to borrow up to 22% more than on its standard deals.
This article is sponsored and paid for by Lloyds. The views expressed in this advertorial are from Lloyds, and do not necessarily reflect those of loveMONEY.
Getting on the property ladder is one of life’s biggest milestones.
As such, it’s crucial to find a mortgage provider that understands the needs of new borrowers.
This is where Lloyds Bank could come in.
In this article, we examine everything the lender has to offer first time buyers.
Discover more with Lloyds’ first time buyer support guide
1. Lend a Hand mortgage: you could get help from family
Be aware that you could lose your home if you don’t keep up with your mortgage repayments.
Saving up a deposit is challenging for first time buyers in 2025.
For those whose families are able to help, however, a Lloyds Lend a Hand mortgage could help potential first time buyers get on the ladder quicker.
Using this initiative, a family member can put 10% of a property’s agreed purchase price into a three-year fixed-term savings account.
The family member then earns interest on these funds.
If the first time buyer keeps up the repayments, the family member will get their money back after three years, with interest.
Be aware that, if any payments are missed, the family member could get back less than deposited.
The mortgage is in the first time buyer’s name only, and they remain the legal owner.
To qualify, either the buyer or the family member who puts down the deposit must have a Club Lloyds account.
Product terms and conditions and exclusions apply.
Learn more about a Lend a Hand mortgage
2. Borrow up to 22% more with a First Time Buyer Boost mortgage
The bank’s First Time Buyer Boost mortgage allows eligible applicants to borrow up to 22% above what it normally lends on a standard mortgage.
To qualify for a Boost mortgage, at least one applicant on the loan must be a first time buyer.
You’ll also need a minimum 10% deposit and total household income of at least £50,000.
For instance, those with an income of £50,000 and a 10% deposit could borrow up to £275,000.
This compares to £224,500 on a standard mortgage.
Product terms and conditions and exclusions apply.
Discover more about a First Time Buyer Boost mortgage
3. Mortgage rate discounts for Club Lloyds customers
Do you have a Club Lloyds current account? You could get an exclusive discount on your initial rate when you complete on a qualifying Lloyds mortgage.
Remember that all Club Lloyds current accounts charge a £5 monthly fee, but this will be refunded if you pay in at least £2,000 per month.
Product conditions may apply. Lending is subject to a full mortgage application.
Find a mortgage online with Lloyds Bank
4. Access to Government initiatives for smaller deposits
Lloyds Bank supports a range of Government-backed schemes to benefit first time buyers.
This includes the Right to Buy scheme, which helps people renting from a Local Authority to buy their home at below market price.
Your Local Authority will be able to advise if you qualify, confirm the level of discount that may apply and provide details of other rules.
The discount you receive depends on whether you live in a house or a flat and how long you have been a tenant.
Learn more about Government-backed initiatives
5. Understand how much you could borrow in minutes
Before you make an offer on your first home, you’ll likely want to find out how much you could potentially borrow and assess affordability.
Lloyds offers nifty online tools, such as a mortgage calculator to estimate your borrowing potential and monthly repayments.
Likewise, the bank’s deposit calculator can help you understand the amount you’ll need as a deposit for your chosen property.
Check out Lloyds' mortgage calculator
6. Apply for an Agreement in Principle within 15 minutes
As with most lenders, Lloyds’ mortgage process usually begins with an ‘Agreement in Principle’ (AIP) – an indication of how much you could borrow according to your current financial position.
It also demonstrates to estate agents that you are in a position to make an offer on your ideal property, when needed.
With Lloyds, you can apply for an AIP online in 15 minutes without affecting your credit score.
Be aware that you’ll need an AIP before submitting your mortgage application, and that the amount you could receive as a mortgage isn’t guaranteed until the lender has conducted all the relevant checks.
Already done your sums? Apply online for your Agreement in Principle now
Is Lloyds right for you?
Whether you’re seeking to get on the property ladder or already a homeowner, no two buyers are the same.
With helpful Government-backed schemes and family-focused products, Lloyds Bank could be the partner you need to buy your first home.
Learn more about securing a mortgage through Lloyds
This is a paid promotion by Lloyds. The views expressed in this advertorial do not necessarily reflect those of loveMONEY.