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What is a 95% Mortgage

What is a 95% Mortgage

What is a 95% mortgage?

A 95% mortgage allows you to borrow 95% of the value of a property, and the remaining 5% is covered through your deposit. A 5% deposit would help you get onto the property ladder sooner as you don’t have to save up as much.


Government 95% mortgage guarantee scheme

It was announced in the Spring Budget that a new scheme of 95% mortgages guaranteed by the Government will launch next Month.  This will allow homebuyers to secure mortgages with 5% deposits, with the government underwriting the 95% mortgage loans.  95% mortgages were withdrawn by most lenders at the start of the pandemic and so this should allow more people to purchase property.


What do we know?

  • The scheme is available to all home buyers (not first time buyers) on properties up to £600,000
  • The scheme is available from April 2021
  • Major lenders already signed up are Barclays, HSBC, Natwest and Santender


Can I now get a mortgage?

If you have only been able to save a 5% deposit, you may be able to get a mortgage from April 2021.  It’s best to speak to an experience Mortgage Adviser who can advise you on the best deals for you.  We have mortgage advisers located around the North East of England who are able to discuss your options with you

Call us on 03300 553212

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At Mortgages Now, we have expert advisers ready to provide mortgage advice to all types of clients, including first time buyers, home movers and buy to let landlords. We have specialists in remortgages and product replacements and general insurance and protection specialists.

We understand the mortgage market and are ready to guide you through the mortgage process, which can seem difficult and confusing. We provide advice in many ways including face to face, video and telephone.

We have our own experienced administration and progress team, based locally, who will see your mortgage application from start to completion. We can even arrange conveyancing so you have access to everything in one place.

We provide a face to face and telephone service so just give us a call to arrange an appointment with one of our friendly advisers

If you live near one of our branches we would love to meet you.  If not give us a call and we will take care of everything over the telephone

Mortgages Now works with Mortgage Advice Bureau, one of the UK’s leading expert mortgage advisers and our expert advisers are able to search 1,000's of mortgage rates, some of which are exclusive to us and not available on the high street

Because we play by the book we want to tell you that…

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.

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