We've launched 98% LTV First Step mortgage to whole of market

We've made our First Step 5 Year Fixed mortgage available to the whole of market - and we're holding a free online event for first-time buyers to help them on their journey to homeownership.

The First Step mortgage is available exclusively to first-time buyers offering up to 98% LTV and requires a minimum 2% deposit. The five-year fixed-rate product is designed for borrowers who meet the Society’s affordability and lending criteria.

Research from the Building Societies Association (BSA) found that 47% of aspiring homeowners have never spoken to a lender or mortgage broker about their options.

The BSA research also found that 67% of aspiring buyers said they could purchase sooner than they had thought after being shown no- and low-deposit mortgages available from building societies.

Andy Fowler, Mortgage Adviser at The Cambridge, said:

“For many people, the biggest barrier is not always the size of the deposit - it is believing that buying a home is even within reach. Our event is about replacing uncertainty with clear, practical answers, so first-time buyers can understand their options and leave with a realistic next step.”

Our free online event for first-time buyers will be held on Thursday 15 October from 6pm to 7pm. The virtual session will cover the homebuying process, saving for a deposit and different mortgage options, with mortgage experts from The Cambridge available to answer questions.

For more information and full details of mortgage ranges and lending guidelines, click here.

Research source: Building Societies Association, “Think again! First-time buyers could be much closer to owning a home than they realise”, published 11 February 2026.