95% Mortgages

The 95% mortgage guarantee scheme was announced by the Chancellor in his March Budget. The Government is offering banks and mortgage lenders a guarantee for helping first time buyers purchase a property with only a 5% deposit.

A 95% mortgage is a loan for 95% of the property’s price. The 95% is also known as Loan to Value meaning you only need to raise 5% of the property’s value as a deposit.. For example, if you buy a house for £300,000 you will only need a deposit of £15,000.

With a 95% mortgage, you can borrow up to five times your salary, or combined salary if you are buying with a partner. Of course with any mortgage, you will be subject to the usual credit checks and affordability testing which is where our mortgage experts can help.

Download our Free First Time Buyers Guide

First time buyers: latest blog articles

Moving and Packing Tips for a Stress-Free Move

21 Jul 2023

Moving soon? It's never too early to get organised! Be prepared and avoid unwanted stress by checking out our list of tips to get you ready for moving day.

Mortgage Tips to Help with Higher House Prices

10 Mar 2023

Although house prices have been on the rise, purchasing a property is still cheaper in the long run than renting and it’s always worthwhile trying to get on the housing ladder.

What Does The SDLT Reduction Mean For Homeowners?

Here we have looked into SDLT in more detail and explored how the recent tax reduction can help people who want to buy a new home.

More first time buyer articles