Get a mortgage with as little as a 5% deposit

Whether you're a first time buyer or an established homeowner, a 5% deposit mortgage could help you move sooner rather than later.
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Award-winning customer service

Providing great service is something we’re really proud of. Thanks to your feedback, we’ve won Feefo’s Platinum Trusted Service Award.
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What kind of mortgage do you need?

We are now offering residential mortgages up to 95% loan to value (LTV) in our operating area and up to 90% throughout the rest of the UK (75% in London & SE England).

Buying your first home?
We’ve got great deals including 5% deposit mortgages
Thinking of moving house?
Expert advice and mortgages for new and existing customers
Looking to remortgage?
It's quick and easy to remortgage with The Cumberland

Mortgage tools

See how much you can borrow
Try our handy mortgage calculator now. You can compare monthly payments too.
Check you can apply
Answer a couple of questions to get an initial indication of whether we might be able to help you or not.
Request a call from a mortgage specialist
The quickest way to speak to a mortgage specialist that can help you get on or move up the property ladder, or remortgage is to request a call back.
Where We Lend

We provide mortgages on properties throughout England, Scotland and Wales. Some of our mortgages are only available on properties in our branch operating area.

Our operating area is Cumbria (all CA and LA postcodes), South-West Scotland (all DG postcodes and TD9), West Northumberland (NE45-49) and North Lancashire (all PR, FY, LA AND BB1-3 and BB5-7).

Use our Mortgage Calculator to find out which mortgages are available to you.

Mortgage Calculator

Existing customers

Payment Holidays
Find out what support is available if you've been financially impacted by coronavirus.
Switch To A New Deal
If your initial deal period is ending, you may be able to get a better rate
Borrow More
Find out if you could increase your existing Cumberland mortgage

Understanding Mortgages

  • What is a mortgage?
    • A mortgage is a loan, secured on a property, that is repaid with a predetermined set of payments over an agreed period of time.
    • The amount you borrow will depend on your income, outgoings and your ability to pay it back.
    • Borrowing for the first time you will need a deposit to put towards the property, which is usually at least 5% of the total cost of the property. Home movers generally use the equity in their property as the deposit.
  • Types of mortgage products

    There are two main types of mortgage products we currently offer:

    Fixed Rate

    With a fixed rate mortgage, your interest is fixed for an agreed period. During this period your monthly repayments stay the same so you know exactly how much you’re going to pay each month for a set amount of time. Even if interest rates go up, you will continue to pay the same amount each month, but if they drop your payments won’t fall. Most lenders charge an initial fee for arranging a fixed rate mortgage and if you repay all or a significant part of your mortgage before the end of the fixed period, an early repayment charge is likely to apply.

    Variable Rate

    Your interest is a set percentage above or below a particular rate for an agreed period of time. If you have a variable rate mortgage your payments will go up or down whenever the rate it is tracking goes up or down. These mortgages usually track either the Bank of England base rate or the lender’s own standard variable rate. Most variable rate mortgages have arrangement fees and early repayment charges.

  • Choosing your mortgage

    When you start looking at mortgages the choice can seem overwhelming. How can you possibly know whether you’ve got the right mortgage?

    Simply put, the right mortgage is the one that is best for your own personal circumstances. The reason why there are so many mortgages available is that everyone’s needs are different. The easiest way to find out which mortgage is best for you is to talk to someone that you trust will give you good advice.

  • Repayment options
    Repayment (Capital and Interest)

    Each payment is made up of both capital (the amount that you borrowed) and interest. This means if you make all of the required payments during the term of the mortgage, your loan is guaranteed to be repaid on time. The amount you owe also reduces each month and you are not dependent on the performance of an investment plan for the repayments of the capital borrowed.

    Interest Only

    All that you are paying back is the interest. You would need to make separate arrangements to repay the amount you borrowed at the end of the term. Normally, this would mean making a separate payment to an investment plan. This type of mortgage offers a lower monthly payment to your lender as you are only paying the interest (you still need to have a repayment strategy to repay the amount borrowed at a point in the future).

    You need to think carefully about which method will suit you best. A mortgage advisor will take you through the pros and cons of both and recommend what’s best for you.

Your mortgage is secured on your home. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.