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Compare 95% mortgages for first time buyers

You only need a 5% deposit with one of these 95% mortgages that are suitable for first time buyers.

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204 results found, sorted by affiliated products by lowest initial rate. How we order our comparisons. Commission earned affects the table's sort order.
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Nationwide 2 year BBR tracker cashback mortgage for first time buyers
Maximum LTV
95%
Initial rate
2.34% base rate tracker for 2 years
Subsequent rate (SVR)
3.59% variable
Overall cost for comparison
3.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£1,499 with an option to add to the loan
Additional information

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Leek United 2 year fixed
Maximum LTV
95%
Initial rate
2.37% fixed until 31 Mar 2024
Subsequent rate (SVR)
5.19% variable
Overall cost for comparison
4.7% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£995 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 31 Mar 2023

- then 1.00% of amount paid, until 31 Mar 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Chorley Building Society 2 year discount for first time buyers
Maximum LTV
95%
Initial rate
2.39% for 2 years (2.85% discount on SVR)
Subsequent rate (SVR)
5.24% variable
Overall cost for comparison
4.9% APRC
Available via brokers only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Scheme fee£599 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.85% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available in England
Broker Only
First Time Buyers Only
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Chorley Building Society 2 year discount for first time buyers
Maximum LTV
95%
Initial rate
2.39% for 2 years (2.85% discount on SVR)
Subsequent rate (SVR)
5.24% variable
Overall cost for comparison
4.9% APRC
Available via brokers only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Scheme fee£599 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.85% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available in England
Broker Only
First Time Buyers Only
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 2 year BBR tracker cashback mortgage for first time buyers
Maximum LTV
95%
Initial rate
2.39% base rate tracker for 2 years
Subsequent rate (SVR)
3.59% variable
Overall cost for comparison
3.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Accord Mortgages 2 year discount
Maximum LTV
95%
Initial rate
2.44% until 31 Mar 2024 (2.05% discount on SVR)
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
4.0% APRC
The initial rate will be followed by a rate of 3.75% until 31 Mar 2027 (0.74% discount on SVR).
Available via brokers only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all of your mortgage early you will be charged:

- 1.00% of amount paid, before 31 Mar 2024

Other fees may apply.

Eligibility
Available in England
Available in Scotland
Available in Wales
Broker Only
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Leeds Building Society 2 year fixed
Maximum LTV
95%
Initial rate
2.44% fixed until 29 Feb 2024
Subsequent rate (SVR)
5.29% variable
Overall cost for comparison
4.7% APRC
The initial rate will be followed by a rate of 4.04% until 28 Feb 2027 (1.25% discount on SVR).
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of amount paid, before 28 Feb 2023

- then 2.00% of amount paid, until 29 Feb 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Newcastle Building Society 2 year fixed
Maximum LTV
95%
Initial rate
2.45% fixed until 29 Feb 2024
Subsequent rate (SVR)
3.96% variable
Overall cost for comparison
3.8% APRC
Available via telephone only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 28 Feb 2023

- then 1.00% of amount paid, until 29 Feb 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Nationwide 2 year BBR tracker cashback mortgage for first time buyers
Maximum LTV
95%
Initial rate
2.49% base rate tracker for 2 years
Subsequent rate (SVR)
3.59% variable
Overall cost for comparison
3.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Hinckley & Rugby Building Society 2 year fixed
Maximum LTV
95%
Initial rate
2.5% fixed for 2 years
Subsequent rate (SVR)
5.89% variable
Overall cost for comparison
4.8% APRC
The initial rate will be followed by a rate of 4.24% for 3 years (1.65% discount on SVR).
More information
Application fee£199 paid upfront
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at application80 years
Max age at term end85 years
Minimum Age18 years
Minimum Income£10,000
Permanent UK Resident
Self Employed Accepted
HSBC 2 year fixed for first time buyers
Maximum LTV
95%
Initial rate
2.59% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.54% variable
Overall cost for comparison
3.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£999 with an option to add to the loan
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- then 1.00% of amount paid, until 30 Apr 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Principality Building Society 2 year fixed for first time buyers
Maximum LTV
95%
Initial rate
2.59% fixed until 30 Apr 2024
Subsequent rate (SVR)
4.4% variable
Overall cost for comparison
4.2% APRC
The initial rate will be followed by a rate of 3.4% until 30 Apr 2027 (1% discount on SVR).
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 30 Apr 2023

- then 1.50% of amount paid, until 30 Apr 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end76 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
TSB 2 year fixed cashback mortgage for first time buyers
Maximum LTV
95%
Initial rate
2.59% fixed until 29 Feb 2024
Subsequent rate (SVR)
2.59% base rate tracker
Overall cost for comparison
2.7% APRC
Available via brokers only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£995 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 28 Feb 2023

- then 1.00% of amount paid, until 29 Feb 2024

Other fees may apply.

Eligibility
Available in England
Available in Scotland
Available in Wales
Broker Only
First Time Buyers Only
First Time Buyers
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Leeds Building Society 2 year fixed
Maximum LTV
95%
Initial rate
2.64% fixed until 29 Feb 2024
Subsequent rate (SVR)
5.29% variable
Overall cost for comparison
4.7% APRC
The initial rate will be followed by a rate of 4.04% until 28 Feb 2027 (1.25% discount on SVR).
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of amount paid, before 28 Feb 2023

- then 2.00% of amount paid, until 29 Feb 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
The West Brom 2 year fixed
Maximum LTV
95%
Initial rate
2.64% fixed until 29 Feb 2024
Subsequent rate (SVR)
3.99% variable
Overall cost for comparison
3.9% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion fee£499 with an option to add to the loan
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 28 Feb 2023

- then 1.00% of amount paid, until 29 Feb 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at term end75 years
Minimum Age21 years
Permanent UK Resident
Self Employed Accepted
Barclays 2 year fixed
Maximum LTV
95%
Initial rate
2.65% fixed until 29 Feb 2024
Subsequent rate (SVR)
3.59% base rate tracker
Overall cost for comparison
3.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 29 Feb 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end70 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Clydesdale Bank 2 year fixed
Maximum LTV
95%
Initial rate
2.67% fixed until 31 Jan 2024
Subsequent rate (SVR)
4.55% variable
Overall cost for comparison
4.3% APRC
Available via brokers only.
More information
Application feeNo fee
Arrangement fee£999 with an option to add to the loan
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of amount paid, in the first year

- 2.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available in England
Available in Scotland
Available in Wales
Broker Only
First Time Buyers
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
HSBC 2 year fixed for first time buyers
Maximum LTV
95%
Initial rate
2.69% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.54% variable
Overall cost for comparison
3.4% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- then 1.00% of amount paid, until 30 Apr 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Principality Building Society 2 year fixed for first time buyers
Maximum LTV
95%
Initial rate
2.69% fixed until 30 Apr 2024
Subsequent rate (SVR)
4.4% variable
Overall cost for comparison
4.2% APRC
The initial rate will be followed by a rate of 3.4% until 30 Apr 2027 (1% discount on SVR).
Available via brokers only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 30 Apr 2023

- then 1.50% of amount paid, until 30 Apr 2024

Other fees may apply.

Eligibility
Available in England
Broker Only
First Time Buyers Only
First Time Buyers
Max age at term end76 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Principality Building Society 2 year fixed for properties in Wales for first time buyers
Maximum LTV
95%
Initial rate
2.69% fixed until 30 Apr 2024
Subsequent rate (SVR)
4.4% variable
Overall cost for comparison
4.2% APRC
The initial rate will be followed by a rate of 3.4% until 30 Apr 2027 (1% discount on SVR).
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 30 Apr 2023

- then 1.50% of amount paid, until 30 Apr 2024

Other fees may apply.

Eligibility
Available Direct
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end76 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Santander 2 year fixed cashback mortgage
Maximum LTV
95%
Initial rate
2.69% fixed until 02 Mar 2024
Subsequent rate (SVR)
3.35% base rate tracker
Overall cost for comparison
3.4% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of the outstanding balance, before 02 Mar 2024

- £250 cashback needs to be repaid before 02 Jan 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Skipton 2 year fixed
Maximum LTV
95%
Initial rate
2.73% fixed until 28 Feb 2024
Subsequent rate (SVR)
4.64% variable
Overall cost for comparison
4.3% APRC
The initial rate will be followed by a rate of 3.64% until 28 Feb 2027 (1% discount on SVR).
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion fee£495 with an option to add to the loan
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 28 Feb 2023

- then 1.00% of amount paid, until 28 Feb 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 2 year fixed cashback mortgage for first time buyers
Maximum LTV
95%
Initial rate
2.74% fixed for 2 years
Subsequent rate (SVR)
3.59% variable
Overall cost for comparison
3.6% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£1,499 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.25% of the outstanding balance, in the first year

- 0.75% of the outstanding balance, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
First Time Buyers Only
First Time Buyers
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Acceptedfalse
Leek United 2 year fixed
Maximum LTV
95%
Initial rate
2.75% fixed until 31 Mar 2024
Subsequent rate (SVR)
5.19% variable
Overall cost for comparison
4.8% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 31 Mar 2023

- then 1.00% of amount paid, until 31 Mar 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Saffron Building Society 2 year fixed for first time buyers
Maximum LTV
95%
Initial rate
2.77% fixed until 30 Jun 2024
Subsequent rate (SVR)
4.39% variable
Overall cost for comparison
4.3% APRC
Available via brokers only.
More information
Application fee£180 paid upfront (non-refundable)
Arrangement fee£999 with an option to add to the loan
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available in England
Available in Wales
Broker Only
First Time Buyers Only
First Time Buyers
Minimum Age21 years
Permanent UK Resident
Self Employed Accepted

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Overall representative example

Based on borrowing£170,000 over 25 yearsThe overall cost of comparison3.66% APRC representative
Initial rate2.14% fixed for 2 years (24 instalments of £719.56pm)Subsequent rate (SVR)3.88% variable for the remaining 23 years (276 instalments of £876.14pm)
Lender fee£544Total amount payable£259,626.86

Can you get 95% mortgages for first time buyers?

Buying a home for the first time is expensive and saving up enough of a deposit can be a real challenge. Fortunately, some 95% loan to value (LTV) mortgages - which only require a small deposit - are available to first time buyers. You may be able to get one if:

Here is how to get your first mortgage

What are 95% mortgages?

A 95% LTV mortgage is a mortgage worth 95% of the value of the property you want to buy. For example, if you want to buy a house worth £200,000, a 95% mortgage would let you borrow £190,000.

You will need to provide the remaining £10,000, worth 5% of the property value, yourself from your savings - this is known as the deposit

Here is how to save up a mortgage deposit

Should I get a 5% deposit mortgage?

For many people keen to get on the property ladder, 5% deposit mortgages for first time buyers are the only affordable choice.

However, the more you are able to save towards a deposit, the more likely you are to get accepted for a mortgage, and the cheaper the interest rate will be. Therefore it can sometimes pay to wait a little longer before buying your first home. Check out our tips on how to save up for a deposit.

If you can only afford to put down a 5% deposit, you're more likely to get accepted if you have a good credit score, low levels of debt and a regular income - lenders will want to see evidence that you could afford your monthly mortgage repayments.

What is the government 95% mortgage guarantee scheme?

The mortgage guarantee scheme was introduced by the government in April 2021. It aims to encourage lenders to offer more 95% mortgages, after the majority were withdrawn from the market at the height of the Covid-19 pandemic.

The scheme guarantees to compensate lenders for a portion of any losses incurred if a borrower defaults on their mortgage payments and the lender has to repossess the property.

Although there is no direct benefit to the borrower, the scheme should result in a greater number of 95% mortgages being launched onto the market, giving borrowers more choice. Indeed, HSBC, Santander, Lloyds, Barclays and NatWest have already unveiled mortgages under the scheme and more lenders are expected to follow suit.

How to find the right 95% mortgage

To find the right 95% LTV mortgage, you need to work out:

When you know what mortgage you need, you can use our comparison to find the right deal.

Here is how to work out what type of mortgage is right for you

What are the alternatives to a 95% mortgage for first time buyers?

If you are struggling to get a 95% mortgage as a first time buyer, there are other ways you can buy your first home:

  • Guarantor mortgages: These can be easier to qualify for because a friend or family member (your guarantor) must agree to cover your mortgage payments if you are unable to pay them.

  • Help to Buy mortgages: Help to Buy is a government scheme that offers a 20% equity loan to help you buy a new build property. You still need to provide a 5% deposit, but it means you should need a much smaller mortgage.

If you do not have a 5% deposit saved up, read our guide to see if you could get a mortgage with no deposit.

Compare mortgages for first time buyers

95% mortgages for first time buyers FAQs

About our mortgage comparison

Last updated: 11 October 2021

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