The best mortgage deal will offer you the money you need for your mortgage at the lowest cost over the term. To get you started, use this comparison to check the:

  • Maximum loan to value (LTV): This is the most you can borrow against the value of a property, e.g. you could borrow 170k on a property worth 200k with an 85% LTV.

  • Initial rate: This is the rate you pay until the end of the mortgage deal, e.g. 3% for 3 years. You can find mortgage deals that range from 1 to 10 years.

  • Standard variable rate (SVR): This is the rate you pay after the initial rate ends. Then you can switch to a better rate with your lender or remortgage to another.

  • Overall cost for comparison: This is the average of the initial rate and SVR over a 25 year period, including any mortgage fees.

You can only apply for an 85% mortgage deal if you have at least a 15% deposit or 15% equity in your property.

Alternatively, if you rent out your property you can compare 85% buy to let mortgages here instead.

What types of mortgage rate are there?

There are two main types of interest rate you can get with an 85% mortgage:

  • Variable: This could be a tracker, capped or standard variable rate which can go up or down if the lender decides, or if the Bank of England base rate changes.

  • Fixed: You agree to a fixed interest rate for a set term during your mortgage. You can choose a new fixed term after the set term is over, or let the mortgage revert to its standard variable rate (SVR).

Most banks or building societies offer either a variable or fixed interest rate with a fee or without. The interest rate is usually lower when you pay a fee. It's important to compare prices with different mortgage providers to make sure that you're not just finding a cheap mortgage but that it's one you can afford and one that works for you.

How can I find the right 85% mortgage for me?

The right mortgage for you will depend on factors including how much you can afford to pay in fees and interest, and how much you are looking to borrow. It's important to think about different scenarios and not to just focus on the interest and finding cheap mortgage rates.

For example, a low interest mortgage might be cheaper in the long run but if it's a variable rate mortgage, it could become more expensive when interest rates rise.

It's worth remembering that the best mortgage interest rates are reserved for those with a large deposit and an excellent credit score. Find out how to improve your credit score in our guide.

85% mortgage FAQs


Can I get an 85% mortgage without a deposit?


No, you need to have at least a 15% deposit to apply for an 85% mortgage. Here is how to find a mortgage that does not need a deposit.


How can I save for a mortgage deposit?


Putting some money aside each month will let you build a deposit over time. Here are more ways to save up for a mortgage deposit.


Do I need a good credit record?


Yes, it gives lenders an idea of how likely you are to make your repayments. Here is how to improve your chances of getting accepted for a mortgage.


Are mortgages better if I have a bigger deposit?


Lenders usually offer better rates for lower LTV mortgages. Compare rates from as many lenders to find the best rate for the LTV you can get.


Can I afford to repay an 85% mortgage?


Check if you can afford one by working out how much you earn and spend. Compare this to how much buying a home will cost you.

About our 85% mortgage comparison


Who do we include in this comparison?


We include every mortgage in the UK you can apply for directly from the lender. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.


How do we make money from our comparison?


We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.

Last updated: 29 January 2021