95-mortgage-benefits - Your Property Financial

First-time buyer and want to get onto the property ladder?

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 just 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?

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 47 reviews

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

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

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

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

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!

James Colebrook

2023-07-04

Having Paul assist with our property search an mortgage application has been brilliant. Paul has been very thoughtful and thorough when explaining the risks and benefits of products as well as patiently explaining processes. We'd happily recommend Paul to anyone else and would be more than happy to use his services again in the future.

Ev Galandova

2023-07-04

Very impressed by the service. We worked with Paul T and he was great. Definitely pleased to have gone through the process with this company. Recommending to anybody.

Peter Thomas

2023-07-02

Paul Tait has been extremely helpful with all aspects of my house purchase. He has explained many parts of the process that I did not understand, guided me through them and been readily available for calls at each stage.

Angela

2023-06-02

Paul has been extremely helpful and professional throughout the whole re-mortgage process. He is very solution orientated, responsive and supportive and I can't recommend him highly enough. Thank you very much Paul for your dedication and finally for making it happen!! Highly appreciated.

Michelle Boorman

2023-05-31

Paul was an incredible broker to work with, would highly recommend! I went into the house buying process new and anxious, Paul was patient and walked me through the process each step of the way. Went above and beyond mortgage broking and felt like he was assisting throughout the buying process. Even when I went to put an offer in, the listing agent specifically said “you’ve got a really good mortgage broker, he is really on top of things”. He was prompt, helpful and matched me with a strong lender. 10/10.

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 you can afford the mortgage so will be accessing things like your income, expenditure and very importantly your credit score and result aswell.

Benefits of 95% mortgage.

It could make buying a home easier

With only a 5% deposit required you can get onto the property ladder as soon as possible and reduce the time you spend paying rent or living with family.

You can move sooner

Once moved into your new home your mortgage payments will slowly start to pay off the mortgage so in many years time you eventually own the home with no mortgage at all!

Houses and flats available

Many lenders for the purchase of a flat will require a larger deposit than 5%, however, we have access to lenders who can lend up to 95% on flats, meaning you can buy your home quicker.

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95% mortgage lending

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

Our team of mortgage brokers are specialists in helping you navigate all of the different rates, fee’s and deals to make sure you end up with just the one mortgage that’s right for you. We also help manage the whole process for you so it’s nice and straightforward.

Often the lenders will make assumptions or even worse let the computer make the decision on whether to lend to you, this is where we step in to ensure you get the correct consideration for your application and we help present your application in the most suitable light; increasing your chances of acceptance on your first application.

Why choose us

We’re experts in the field.

Our team of brokers are specialists with helping our first time buyers clients to purchase their first home with a 5% deposit.

Often the lenders will ask lots of questions or perform more scrunity on a 5% deposit mortgage, but we've got you covered and deal with the lender for you.

We can find great deals at speed.

Access to over +90 lenders so you will get the most suitable rates and terms available with many of these lenders not available on the high street which are exclusive to brokers.

relationship

Real relationships with the lenders so we can get your application pre-approved if your situation isn’t straightforward. Plus your mortgage broker is there answer all the questions you may have.

Rapid solutions.

We’re quick, on our first call we will quickly establish your options and let you know the next steps so we can arrange everything promptly for you.

If you prefer to speak face to face we can also arrange a video call.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Your Property Financial Ltd (FCA Number:942504) is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd (FCA Number: 187834) which is authorised and regulated by the Financial Conduct Authority.

We usually charge a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.

The Financial Conduct Authority does not regulate some forms of buy-to-let, overseas and commercial mortgages.

Your Property Financial Ltd registered in England and Wales company number 12940973. Registered office address 5 Ducketts Wharf, South Street, Bishop’s Stortford, Herts, CM23 3AR.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.