95% Mortgages

The 95% mortgage guarantee scheme was announced by the Chancellor in his March 2021 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

Prices for UK houses drop in July 2024

2 days ago

The average seller’s asking price dropped by 0.4% in July, a bigger drop than we have typically seen. 

Overpaying mortgage vs money into savings

18 Jun 2024

Should you overpay your mortgage? If you can put extra cash away you need to seriously consider whether you should pay more off on your mortgage or put it into a savings account.

Getting on the property ladder: first time buyer tips

24 May 2024

Buying a property, especially in the current climate, is a big decision for first time buyers. We have listed a few tips that can help you buy your first propertyy

More first time buyer articles