<Mortgage comparison

Compare 95% LTV mortgages

95% mortgages

A 95% mortgage lets you borrow 95% of a property's value, so you only need to save a 5% deposit. Our broker partner Mojo compares deals from 60+ lenders across the whole of the market to find one that fits you.

Compare 95% LTV mortgages from 60+ lenders across the whole of market

Mojo Mortgages is an award-winning broker
CardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence ProvidersCardFinderLowProminence Providers
95% mortgages
Trustpilot
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS. The FCA does not regulate mortgages on commercial or investment buy-to-let properties.
Author
Atousa Cunnell
Updated by
James Andrews
Last updated
July 16th, 2026
Reading Time -
7 mins
On this page

What are 95% mortgages?

A 95% loan-to-value (LTV) mortgage lets you borrow 95% of a property's value, so you only need a 5% deposit, this is sometimes called a 5% deposit mortgage.

To get one, you'll need a 5% deposit (from savings, or from equity if you're remortgaging) and to meet the lender's criteria, such as a good credit score and proof you can afford the repayments.

Most lenders let you borrow up to 4.5 times your income, though a smaller deposit may reduce this.

You'll make monthly repayments, including interest, based on your mortgage type (fixed-rate or variable-rate), the deal you choose, and the term length.

A key risk is negative equity. If you take out a 95% mortgage and your home's value drops, you could owe more than the property is worth meaning you're paying interest on a loan bigger than your home's current value.

How to compare 95% LTV mortgages

Your Mojo expert will compare 95% mortgages to find the right deal for you

Tell us what you need

Let us know your details so we can understand your mortgage needs.

Let us compare available deals

There are thousands of mortgage deals to choose from, so we’ll help you with that.

Get your mortgage with Mojo

You can apply right away if you like - and we never charge broker fees.
Get started

Can I get a 95% mortgage?

Lenders usually won't offer a 95% mortgage without a good credit history.

A 95% mortgage is riskier for lenders, so the more reliable you look as a borrower, the more likely you are to be accepted.

As with any mortgage, lenders will look closely at your income, debts and outgoings before deciding whether you can afford the repayments.

If you're not sure whether you'll qualify, a mortgage broker can check your situation and help you find the right deal.

How much can I borrow with a 95% mortgage?

How much you can borrow depends on your personal finances and whether you meet the lender's affordability criteria.

Lenders look at:

  • Your salary

  • Other income

  • Your outgoings

  • Any debts

  • Your dependants

  • Your credit history

For example, on a £250,000 home with a 5% deposit of £12,500, you'd need a 95% mortgage of £237,500. Most lenders would want to see an income of around £53,000 - £59,000 a year to support that, based on typical income multiples of four to 4.5 times salary - though this varies by lender and circumstances.

If you're borrowing with someone else, the amount may be a bit lower, since it's based on both incomes combined.

Every lender uses different criteria to decide how much to lend and to whom.

A 95% mortgage can work well if you can comfortably afford the repayments, but saving a bigger deposit where you can will usually get you a lower interest rate and reduce what you pay overall.

Find out more about ways to save up a mortgage deposit.

Advantages and disadvantages of 95% LTV mortgages

Advantages

You only need to put down 5% of the property's value, making it easier to save a deposit if you're a first-time buyer.
The government's mortgage guarantee scheme means several lenders offer 95% mortgages, so you have more options.
You'll usually have more choice and a better rate than with a 100% mortgage.

Disadvantages

Interest rates and fees are higher than on lower-LTV mortgages, so you'll pay more overall.
There's a bigger risk of negative equity if your property's value drops.
With a smaller deposit, you might not be able to borrow the maximum amount based on your income.

Other things to consider when choosing a 95% mortgage

Fixed-rate vs variable-rate mortgages

Your lender charges interest on your mortgage, and whether that rate is fixed or variable affects your monthly payments and what you'll pay overall.

With a fixed-rate mortgage, your interest rate stays the same for a set period, so you know exactly what you'll pay each month. These tend to cost more at the start, in exchange for that certainty.

With a variable-rate mortgage, your rate tracks another indicator, usually the Bank of England base rate, so your payments can rise or fall in line with it.

These deals often start cheaper, but your monthly repayments could rise if interest rates go up.

First-time buyer schemes

If you're still struggling to save even a 5% deposit, a few other schemes could help:

  • Shared ownership - buy a share of the property (10–75%) and pay below-market rent on the rest.

  • Lifetime ISA — a 25% government top-up on savings up to £4,000 a year, for first-time buyers under 40.

  • Help to Buy Equity Loan — now closed in England, Scotland and Northern Ireland, but still open in Wales until September 2026.

Learn more about mortgages for first-time buyers.

Other things to consider when choosing a 95% mortgage

Fixed-rate vs variable-rate mortgages

Your lender charges interest on your mortgage, and whether that rate is fixed or variable affects your monthly payments and what you'll pay overall.

With a fixed-rate mortgage, your interest rate stays the same for a set period, so you know exactly what you'll pay each month. These tend to cost more at the start, in exchange for that certainty.

With a variable-rate mortgage, your rate tracks another indicator, usually the Bank of England base rate, so your payments can rise or fall in line with it.

These deals often start cheaper, but your monthly repayments could rise if interest rates go up.

First-time buyer schemes

If you're still struggling to save even a 5% deposit, a few other schemes could help:

  • Shared ownership - buy a share of the property (10–75%) and pay below-market rent on the rest.

  • Lifetime ISA — a 25% government top-up on savings up to £4,000 a year, for first-time buyers under 40.

  • Help to Buy Equity Loan — now closed in England, Scotland and Northern Ireland, but still open in Wales until September 2026.

Learn more about mortgages for first-time buyers.

95% mortgage FAQs

Which banks offer 95% mortgages?

Several major lenders currently offer 95% mortgages, including NatWest, Barclays, HSBC, Santander, Lloyds, Nationwide, Virgin Money and TSB.

Many of these lend through the government's permanent mortgage guarantee scheme, which encourages lenders to offer 95% LTV deals, but a growing number of lenders also now offer 95% mortgages independently of the scheme.

Is the mortgage guarantee scheme still available?

Yes. The mortgage guarantee scheme was made permanent in July 2025 under the government's "Freedom to Buy" branding, so there's no end date to plan around.

It works behind the scenes between the government and your lender - you don't apply for it separately, and from your side, taking out a 95% mortgage through the scheme looks just like any other mortgage application.

Can I get a 95% mortgage on a new build?

Yes, you should be able to get a 95% mortgage on a new-build property, though availability varies by lender and by whether the property is a house or a flat.

You may also be able to combine this with first-time buyer schemes such as shared ownership.

What is a higher lending charge?

A higher lending charge (HLC) is a fee some lenders used to charge if your deposit was below a certain level, usually 10%, to cover their own risk on the loan.

Most lenders have now stopped charging this separately and absorb the cost themselves. Where it's still applied, the amount varies by lender, so it's worth checking with your broker or lender directly rather than assuming a fixed rate.

Can I get a mortgage without a deposit?

It's possible to get a mortgage with no deposit, though you'll usually have more luck with a guarantor - someone, such as a family member, who agrees to cover the mortgage using their own home or savings if you can't.

You'll need at least a 5% deposit for most other mortgages. If you're struggling to reach that, there are schemes designed to help you buy your first home.

About the author

Author imageAtousa Cunnell
Atousa Cunnell
Atousa is a Content Manager for money.co.uk, responsible for writing and editing a wide range of mortgage content that are helpful to the reader.

money.co.uk is not a mortgage intermediary and makes introductions to Mojo Mortgages to provide mortgage solutions.

money.co.uk and Mojo Mortgages are part of the same group of companies. money.co.uk is a trading name of Dot Zinc Limited, registered in England (4093922) and authorised and regulated by the Financial Conduct Authority (415689). Our registered address is: The Cooperage, 5 Copper Row, London, England, SE1 2LH.

Mojo is a trading style of Life's Great Limited which is registered in England and Wales (06246376). We are authorised and regulated by the Financial Conduct Authority and are on the Financial Services Register (478215). Mojo’s registered office is The Cooperage, 5 Copper Row, London, SE1 2LH. To contact Mojo by phone, please call 0333 123 0012.