Enjoy the Benefits of 95% Mortgages

95% mortgage benefits

Owning Your Dream Home Sooner: Unveiling the Benefits of 95% Mortgages and How a Mortgage Broker Can Help

For many aspiring homeowners, the biggest hurdle is saving a substantial deposit. This is where 95% mortgages, also known as high loan-to-value (LTV) mortgages, come in. However, securing one requires careful consideration and often the guidance of a skilled mortgage broker.pen_spark

95% mortgages are back and this is good news for all first-time buyers with a smaller deposit who’re looking to get onto the property ladder with a 5% deposit.

With a deposit at this level, you can move away from renting or living with family as soon as possible and have your very own place you can call home.

What is a 95% mortgage?

95 ltv mortgage

A 95% mortgage, also known as a 95% loan-to-value (LTV) mortgage, is a mortgage to purchase a property with a small deposit (at least 5% but less than 10% deposit of the purchase price).

Your deposit is the amount of money that you need to put into the mortgage to make up 100% of the final purchase price.

You still require the income and good credit score to borrow the remaining 95% so you can buy your new home. 

What clients are saying about us

Excellent
Based on 52 reviews
Georgiana Olescu
Georgiana Olescu
2024-04-10
Paul is an amazing broker, very helpful, responsive to emails and patient with customers. The process with him was quick and easy as his work ethic is impeccable. We are beyond impressed and happy with his services and that we got to work with him.
Valerie O
Valerie O
2023-12-28
Exceptional service provided by Paul, I could not have asked for better. Definitely does his due diligence and goes above and beyond. Highly recommended!
Bonnie Frost
Bonnie Frost
2023-12-25
Paul is a fantastic advisor and guided my husband and myself through the entire process of buying our first home, he made the entire process feel easy and we were well informed along with great communication and fast action. We completed within 3 months of contacting Paul.
Johnathan Lowery
Johnathan Lowery
2023-11-16
Working with Paul has been a hugely positive experience. Paul took the time to understand our needs and financial situation, ultimately securing us a mortgage deal that we would not have been able to obtain on our own. His guidance and patience over an extended time was invaluable in guiding us through a volatile period in the property market. I highly recommend working with Paul at Your Property Financial.
Adeel Sarwar
Adeel Sarwar
2023-10-02
It has been great working with Paul. He helped us to redeem our help to buy equity loan which didn't seem possible to me when I first contacted him. It took much longer than expected due to many obstacles but Paul explained every step of the process very clearly and he regularly communicated with me to ensure the remortgage went through as efficiently as possible. I would definitely recommend working with Your Property Financial.
Jessica
Jessica
2023-08-29
I would highly recommend Paul as a mortgage broker. As a first time lone buyer I began the process feeling very out of my depth, particularly in a market where mortgage rates are very high. But from the get go Paul provided reassurance and practical guidance and has been immensely helpful throughout the process. I've really appreciated his responsiveness, honesty and support.
Louise Griffiths
Louise Griffiths
2023-08-28
I reached out to Paul 2 years ago and giving this review now because I wanted to ensure that I could give a true review of what benefits I have experienced from using his service. I am thrilled with the financial expertise given to me by Paul. His skillful negotiation secured me an excellent mortgage rate within a short turn around time. This has not only set me on the path to paying off my principal balance but has also allowed me to simultaneously build a solid emergency fund. His initial guidance has been invaluable in shaping my financial future. I look forward to working with Paul again, once my 5 year plan is near its end. Highly recommended!
Calum Hebron
Calum Hebron
2023-08-05
Paul has been consistently excellent, ensuring we got the best possible mortgage deal at a time when rates weren't great. Paul worked with us to understand our financial complexities and went above and beyond to ensure they were understood by mortgage providers. We've been made to understand every stage of the process, and as first time buyers we were able to feel confident in the decisions we made. I would highly recommend working with Paul at Your Property Financial.
Czarina
Czarina
2023-08-04
My almost a year-long journey with Paul as my broker has been truly amazing, despite a few hiccups during the mortgage process. Working with him has been the best decision ever! As a first-time buyer, I lacked knowledge about purchasing a home, but Paul's guidance and expertise were outstanding. He explained things in a clear and concise way. What impressed me the most was Paul's responsiveness. He promptly addressed all my questions and concerns, never making me feel like a bother. Even when I faced challenges, Paul's determination and problem-solving skills were unwavering. I felt so supported throughout the entire process. Thanks to Paul's unwavering support, I managed to reach this point. I highly recommend him to anyone, especially fellow first-time buyers. Paul's knowledge, patience, and reliability are unmatched. He's not just a broker; he's an invaluable ally in this complex process. Thank you, Paul!
Alistair Prestidge
Alistair Prestidge
2023-07-11
Paul helped me to get my Mortgage approved in less then 48 hours! He has been great and I can’t recommend him highly enough. His communication is excellent, and he helped me understand each stage of the process easily. Thank you so much for helping me buy my very first home! I will most certainly be recommending Paul to friends & family!

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How does a 95% mortgage work?

A 95% mortgage enables you to borrow up to 95% of the purchase price of the property you want to buy, with the remaining 5% made up of your deposit.

An arrangement such as this will sometimes be referred to as a 95% LTV mortgage, where LTV stands for ‘loan-to-value’ ratio.

The lender will still want to see if you can afford the mortgage, so they will be accessing things like your income, expenditure and, very importantly, your credit score and results as well.

Benefits of 95% mortgage.

What is 95 mortgage for new build home?

A 95% mortgage for a new build property allows you to buy a brand new home with a minimal deposit, typically just 5%. This can be a game-changer for first-time buyers who might struggle to save a larger amount upfront.

Here’s the gist:

  • Lower Deposit: You only need 5% of the purchase price as a down payment, making homeownership more accessible.
  • Faster on the Ladder: You can buy sooner, potentially avoiding years of saving for a bigger deposit, especially in a rising market.
  • Government Help: Some government schemes in the UK (like Help to Buy) might even offer additional support for new builds with 95% mortgages.

However, keep in mind:

  • Higher Rates: Expect less favourable interest rates compared to mortgages with larger deposits.
  • Limited Options: Fewer lenders might offer 95% mortgages for new builds, potentially restricting your choices.

95% mortgage lending

mortgage advisor

We have access to the lenders offering 95% mortgages.

Lenders will however expect better than standard credit reports with nearly all lenders offering 95% only agreeing to lend where the applicants have a near-perfect credit report and score.

It is also worth noting that with a 95% mortgage it’s not just about having a good credit score but showing that you’ve had some form of credit recently and have used it responsibly.

Getting a mortgage when you have got a 5% deposit is tough, but don’t worry we can help 😃

A qualified mortgage broker can be your secret weapon when navigating the complexities of 95% mortgages. Here’s how they can help:

mortgage affordability

Eligibility Assessment

Brokers understand the nuances of 95% mortgages and can assess your financial situation to determine if you qualify and if it’s the right option for you.

Best Deal on the Market

They have access to a wider pool of lenders offering 95% mortgages and can compare rates and terms to find the deal with the lowest interest rate and most favourable conditions for your specific needs.

Enjoy the Benefits of 95% Mortgages
95 ltv mortgage

Affordability Calculations

Brokers can help you calculate your monthly repayments and ensure you can comfortably afford the mortgage over the long term, factoring in potential interest rate fluctuations.

Weighing the Pros and Cons

They can guide you through a cost-benefit analysis, comparing the advantages of a 95% mortgage with the potential drawbacks and long-term financial implications.

mortgage broker for 95% mortgage
house loans for first time buyers

Alternative Options

If a 95% mortgage isn’t the best fit, a broker can explore other avenues such as government assistance schemes or shared ownership options to help you achieve your homeownership goals.