A new £5,000 deposit mortgage has been launched by a building society, enabling aspiring homeowners to potentially borrow up to 99% of the property value Yorkshire Building Society said its new fee-free deal will enable first-time buyers across England, Scotland or Wales with a £5,000 deposit to purchase a property valued at up to £500,000 For someone buying a typical first-time buyer property at £200,000, a £5,000 deposit would equate to 2.5% of the purchase price, with the remaining 97.5% being borrowed as a mortgage The new mortgage is available directly to customers and via brokers through Accord Mortgages – the lender’s intermediary-only arm Watch more on Independent TV: https://www.independent.co.uk/tv/editors-picks Click here to subscribe to The Independent: https://bit.ly/Subscribe-to-Independent About The Independent: Making Change Happen. The Independent is the world’s most free-thinking newsbrand, providing global news, commentary and analysis for the independently-minded. Connect with The Independent: Check out our full video catalog: null Videos, daily editorial and more: http://www.theindy.com/ Click here to get the best of The Independent daily: https://www.independent.co.uk/newsletters Like The Independent on Facebook: https://www.fb.com/TheIndependentOnline Follow The Independent on Twitter: https://twitter.com/Independent Follow The Independent on Instagram: https://www.instagram.com/the.independent Download the iOS & Android app: https://www.independent.co.uk/subscribe/app Help to support truly independent journalism. Every dollar you contribute will directly fund additional special reports and investigations from a free-thinking, award-winning newsroom you can trust - https://www.independent.co.uk/donations Subscribe to Independent Premium for exclusive content & live events: https://bit.ly/2MiOONB