First offers from Santander’s “My First Mortgage” help make homeownership dreams a reality

27 February 2026

Santander UK has today revealed details of the first mortgage it has offered under its new 98% LTV, My First Mortgage product, as it helps more first-time buyers make their homeownership dreams a reality.

My First Mortgage, launched on Tuesday 3 February, allows eligible first-time buyers to borrow up to 98% LTV, with a minimum deposit of £10,000 and maximum borrowing of up to £500,000. The mortgage, available on existing houses, is available exclusively via a broker or through Santander’s own advised service and has already seen several offers issued since launch.

Demand has been strong, with multiple offers in progress, and the first offer to be finalised coming via John Cozzolino, Mortgage and Protection Specialist at My Mortgage Maker Ltd, trading as Windsor Hill Mortgages, based in Bath.

Mr Cozzolino’s customers – Mr and Mrs Cotterell – had previously expressed an interest in low deposit mortgage products but had not found one they wanted to pursue. They applied for £475,000 of lending from Santander on 10 February 2026, with a £10,000 deposit. They received an offer for the amount, which represents 97.94% of the £485,000 value of the house they are looking to buy in Somerset.

Speaking about the application and offer, John Cozzolino said:

“Having worked in the industry for 16 years, it’s positive to see big lenders finding new ways to support more first-time buyers, responsibly. I knew these customers were the perfect applicants for the My First Mortgage product, but it’s easy to be sceptical about a headline grabbing figure of 98% LTV and a part of me did wonder if it was all smoke and mirrors. But Santander walked the walk, and I was really pleased that this case was agreed following a smooth and sensible application process, and that our clients can get on preparing to move into their new home.”

Graham Sellar, Head of Santander for Intermediaries said:

“It’s been very exciting to see the first customer offers landing under My First Mortgage, and working with our valued broker partners, like John, to bring the homeownership dream to life for more first-time buyers. We look forward to further innovating to support more first-time buyers in 2026, while maintaining our position as a responsible lender and working together with trusted advisors and intermediaries to ensure buyers are making decisions that are right for them.”