Compare our best 95% LTV mortgages

You only need a 5% deposit to get a 95% LTV mortgage, making them ideal for first time buyers who often have small deposits. Find out more with our guide on how to buy your first home, remortgage or move house with a 95% LTV mortgage and compare the best offers available.

Mortgage type

Property price

£

Mortgage amount

£

Mortgage term

years

Initial rate type

Deal length

Repayment type

Our best 95% LTV mortgage rates

  • Chorley Building Society 2 Year Variable mortgage

    Initial rate 2.39%. APRC 4.9%. Set-up fees £599
  • Monmouthshire Building Society 2 Year Variable mortgage

    Initial rate 2.59%. APRC 4.5%. Set-up fees £0
  • HSBC 2 Year Fixed mortgage

    Initial rate 2.69%. APRC 3.5%. Set-up fees £999
  • HSBC 2 Year Fixed mortgage

    Initial rate 2.69%. APRC 3.7%. Set-up fees £999
  • Monmouthshire Building Society 2 Year Fixed mortgage

    Initial rate 2.7%. APRC 4.4%. Set-up fees £0
  • Monmouthshire Building Society 5 Year Fixed mortgage

    Initial rate 2.85%. APRC 3.9%. Set-up fees £0
  • The West Brom 2 Year Fixed mortgage

    Initial rate 2.89%. APRC 3.9%. Set-up fees £499
  • HSBC 2 Year Fixed mortgage

    Initial rate 2.89%. APRC 3.5%. Set-up fees £0
  • We've found 258 mortgage deals

    Chorley Building Society

    2 Year Variable

    Initial rate

    2.39%

    APRC

    4.9%

    overall cost for comparison

    Set-up fees

    £599

    Monthly payment

    £841.88

    for 24 months

    Chorley Building Society

    2 Year Variable

    Initial rate

    2.39%

    APRC

    4.9%

    overall cost for comparison

    Set-up fees

    £599

    Monthly payment

    £841.88

    for 24 months

    Monmouthshire Building Society

    2 Year Variable

    Initial rate

    2.59%

    APRC

    4.5%

    overall cost for comparison

    Set-up fees

    £0

    Monthly payment

    £861.01

    for 24 months

    HSBC

    2 Year Fixed

    Initial rate

    2.69%

    until 30-11-2023

    APRC

    3.5%

    overall cost for comparison

    Set-up fees

    £999

    Monthly payment

    £870.67

    for 24 months

    HSBC

    2 Year Fixed

    Initial rate

    2.69%

    until 30-11-2023

    APRC

    3.7%

    overall cost for comparison

    Set-up fees

    £999

    Monthly payment

    £870.67

    for 24 months

    HSBC

    2 Year Fixed

    Initial rate

    2.69%

    until 30-11-2023

    APRC

    3.5%

    overall cost for comparison

    Set-up fees

    £999

    Monthly payment

    £870.67

    for 24 months

    Monmouthshire Building Society

    2 Year Fixed

    Initial rate

    2.7%

    APRC

    4.4%

    overall cost for comparison

    Set-up fees

    £0

    Monthly payment

    £871.64

    for 24 months

    Monmouthshire Building Society

    5 Year Fixed

    Initial rate

    2.85%

    APRC

    3.9%

    overall cost for comparison

    Set-up fees

    £0

    Monthly payment

    £886.25

    for 60 months

    The West Brom

    2 Year Fixed

    Initial rate

    2.89%

    until 31-12-2023

    APRC

    3.9%

    overall cost for comparison

    Set-up fees

    £499

    Monthly payment

    £890.17

    for 24 months

    HSBC

    2 Year Fixed

    Initial rate

    2.89%

    until 30-11-2023

    APRC

    3.5%

    overall cost for comparison

    Set-up fees

    £0

    Monthly payment

    £890.17

    for 24 months

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    Representative example:

    If you borrowed £200,000 payable over 25 years, with an initial fixed-rate for two years at 4.79%, your monthly payments would be £1,144.84 for 24 months. This would then revert to a standard variable rate (SVR) of 4.24% for the remaining 23 years, costing £1,086.24 per month for 276 months. Overall cost for comparison is 4.5% APRC representative. The total amount payable over the full term would be £328,272, including product fee of £995 and interest of £127,277.

    Your home may be repossessed if you do not keep up repayments on your mortgage.

    Are any mortgages available with a 5% deposit?

    95% loan-to-value (LTV) mortgages are most popular with first-time buyers because they only require a 5% deposit. The deposit is comparatively small, meaning you can reach your savings target (and so get onto the property ladder) that much sooner. They are also available to those remortgaging or moving house.

    LTV stands for loan-to-value, which relates to the ratio between how much money you need to borrow to buy a property vs. how much it is worth.

    How does a mortgage with a 5% deposit work?

    A 95% LTV mortgage is where you stump up 5% of the property’s value and borrow the remaining 95%. If you’re buying your first home, the 5% will be in the form of a deposit – a cold, hard chunk of cash, most likely from your savings. If you’re remortgaging or moving house, you can use the equity you have in your property as a deposit.

    For example, if you wanted to buy a £200,000 property, you would need to contribute a deposit (or equity) of £10,000 (5%) for an LTV of 95%. Any less than that, and you would struggle to find a mortgage, although there may be some 100% LTV mortgages available.

    Can you get a 95% LTV mortgage as a first time buyer?

    If you’re a first-time buyer, you may only be able to raise a deposit of 5% – especially if you want to buy in an expensive part of the UK. But while interest rates on 95% LTV mortgages might not be as good as 90 and 85%, competition between lenders is strong, with rates hovering around the 2-3% mark.

    Help to Buy schemes

    An alternative option to a 95% LTV mortgage in the UK may be to use one of the government’s Help To Buy schemes – often only available to first-time buyers.

    The Shared Ownership scheme lets you buy a 25% to 75% share of the property to begin with and pay rent on the rest, provided your household earns £80,000 or less (£90,000 or less in London). You can potentially scale up your ownership over time (which you do at the market value at the time, not from the time you first bought it). As you are only buying a portion of the property at the start, this requires a smaller, more manageable deposit.

    Alternatively, you could investigate the governments' Help to Buy: equity loan scheme or save into a Lifetime ISA.