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Following a recent government announcement, the new Mortgage Guarantee Scheme for 2021 operates with 95% mortgages.

This kind of mortgage is known as a loan to value (LTV) mortgage, and it is now possible to be accepted for one of these loans towards a property with a 5% deposit.


We are 95 Percent Mortgages who have assisted thousands of people with the 95% mortgage scheme in Hale Greater Manchester.

With experts based in Greater Manchester, we can offer amazing support and in July 2024 can quickly get this help to you.

It is now possible for people to be accepted for a loan that can cover the value of a property with a small deposit of only 5%.

This deposit can come from savings, as a gift, or another form of payment as long as the borrower has the full amount.

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If you are looking to get onto the housing ladder and purchase your own home, there has never been a better time to put down a payment.

To help you get started with your mortgage, we will explain everything you need to know about the current 95 LTV mortgage scheme and changing house prices.


We offer several great 95 per cent mortgage services and can highlight the best mortgage deals in Greater Manchester. We are more than happy to assist you with anything.

Table of Contents

Why Choose Us?

We can assist and advise with acquiring 95% mortgages in Hale, and our expert team of professionals offer insights and provides top-notch mortgage services.

We offer the highest quality standards, and our advisors provide the best customer service to every client they take on.

At 95 Per Cent Mortgages, we can assist you with a range of mortgage services you might need for your 95% mortgage.

The number of prospective buyers has increased in the past few months, so the 95 mortgage guarantee scheme will help you get your own home.

Remember, the 95 mortgages can only be put toward residential properties. We can help you with your mortgage application and assess your financial situation to help you find the right mortgage for you.

Contact us today for professional mortgage advice and services in Hale.

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What is the 95% Mortgage For First Time Buyers

Thanks to the government’s mortgage guarantee scheme, you can access a 95% mortgage. So, it is easier to get onto the property market, and for many people, it might allow them to buy a home sooner than they thought.

A 95% mortgage, also known as a 95% LTV mortgage, allows buyers to loan up to 95% of the total value of the property. The remaining percentage will be used as a deposit.

If you get a 95% mortgage from mortgage lenders like the bank, you only have to put down a 5% deposit, which is a considerably low deposit for buying a property.

This can help people in Hale to get into the housing market sooner than they might have thought, as less of a lump sum is required.

Applying for a 95 per cent mortgage is great news for first-time buyers, as it now may be cheaper than it has been previously to get onto the property ladder.

These buyers can use the 95% mortgage deal on traditional and newly built properties across the United Kingdom.

Is This Scheme Only Available For First Time Buyers?

These lower LTV mortgages are not just reserved for first-time buyers, as the government announced during the Budget 2021 that it is also open to non-first-time buyers looking to buy a new property.

It is important to note that while it may be possible to get a cheaper mortgage on the surface, the total deposit amount you put down can impact the interest on the loan.

Typically, the cheapest mortgage deal will be reserved for borrowers with a large deposit of around 40% or more.

However, the current 95% mortgages are very competitive, and the low 5% deposit allows many people to buy a house.

As property price continues to rise, the 95 mortgage guarantee scheme is excellent news for first-time buyers and non-first-timers.

If you are looking to get a mortgage in Greater Manchester, a 95% mortgage might give you more limited options.

If you want to discuss your options or personal circumstances with an expert mortgage broker, get in touch with us today.

Am I Eligible To Apply For a 95% Mortgage?

This low deposit mortgage is available to first-time buyers in Hale and individuals looking to move property.

A 95% mortgage is subject to standard mortgage checks for you to be classed as eligible, as well as the following:

If you are interested in learning more about whether you are eligible to take out this kind of loan, then get in touch with our expert advisors in Hale today!

We can discuss mortgage rates in more detail. The mortgage guarantee scheme can help you manage extreme house costs as the average property price increases.

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Best 95% LTV Mortgages

In the spring budget of 2021, the government announced a new 95% mortgage guarantee scheme, which has helped reduce national mortgage rates.

It is now possible for buyers to be accepted for mortgage repayments with a small deposit of 5% of the total purchase price.

This scheme is open to all buyers with a decent credit history and is similar to the old Help to Buy scheme, which closed in 2017.

Most lenders registered in England are urged to offer this kind of mortgage to buyers, and there are various options.

Whether you are looking into a traditional building or a new-build home, you may be eligible to get a 95% mortgage.

Lenders should offer the following kinds of loans:

Mortgage Guarantee Scheme

This is the 95% mortgage that the government announced during the 2021 spring budget following the pandemic.

With 95% mortgages, buyers can now take out a loan-to-value (LTV) mortgage on a property with a deposit of 5%. This applies to both traditional and new build homes.

For a 95% mortgage, the lender will take out an insurance or indemnity policy with the government, which helps them recover losses should they need to repossess the property.

It is important to note with any kind of mortgage, the lender may repossess your home in Greater Manchester if you cannot keep up with payments.

Through this new help-to-buy guarantee, there are several main types of mortgage plans available. We will discuss how these help you decide the best way to get your own house.

To keep your house, you need to be able to keep up repayments which are usually monthly payments. The kind of mortgage you take out can differ based on these payments, the property’s value, and what is available to you.

There are options for both fixed-rate mortgages and variable-rate mortgages. These loans refer to the kind of interest rate you will be facing, along with your monthly repayments on your mortgage.

Various schemes are available in Hale to help individuals buy property, so do your due diligence with participating lenders before confirming one option.

Fixed Rate Mortgages

A fixed-rate mortgage means that your monthly payments are fixed for a certain period, usually between two and five years.

The lender fixes the cost of your monthly mortgage repayments, and the interest rates are guaranteed not to change during this time.

This can make the monthly payments cheaper and easier to afford based on your budget. However, with a fixed-rate mortgage, you cannot leave the mortgage agreement early without paying a fee to the Bank of England lender first.

Variable Rate Mortgages

A variable-rate mortgage could be the best option for you, as the interest rate can decrease, reducing the repayments required for your loan-to-value mortgage. With a variable rate mortgage, the interest rates on payments can vary over time.

As the name variable rate suggests, the interest rate you face with this kind of mortgage can be varied – it will fluctuate depending on the Bank of England base rate.

With a variable rate mortgage, the interest rate can decrease along with the country’s base rate, meaning that the payments on your mortgage can be cheaper each month.

For some people, a variable-rate mortgage can be the best option. With a variable rate mortgage, you could save money every month based on the changes in the interest rate this scheme allows for.

This can be good news, as with a variable rate loan, your interest may decrease along with the Bank of England.

However, there are two sides to a variable rate loan, as the interest rate can also increase along with these fluctuations, which will cause your monthly bills to be more expensive.

It is a good idea to compare lenders and the 95% mortgages they offer, as the variable rate can be set as a standard by them, and you may find that one lender could help you save money while still being able to pay for your home.

Tracker Mortgages

These 95 per cent mortgages work by tracking a certain interest rate index.

Like with a variable rate mortgage, the interest rate will be tracked by the Bank of England base rate, and any changes in this could impact your repayments.

With this kind of mortgage, when the Bank of England base rate changes, so will your mortgage interest rates and the payments you need to make, much like a variable rate loan.

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Are There Any Alternatives To the 95% Scheme?

The following government schemes may be viable alternatives for the 95% mortgage scheme in Hale:

Equity Loan

This kind of 95% mortgage is only available for new builds. It works by allowing the buyer to put down a 5% deposit and take out a 20% to 40% Government-backed equity loan for the same property.

This equity loan from the government is paired with your deposit, giving you a total deposit of 25% to 45% based on the size of the mortgage granted.

Like the help-to-buy scheme, these mortgages allow people to buy a new home for a fraction of the house prices they are used to and may allow you to get into the housing market sooner than you thought possible.

It is important to note that this is only granted for new build properties.

We can find you the best equity mortgage deals, so get in touch with us today! We can provide qualified advice and guidance.

Shared Ownership

A shared ownership mortgage is sometimes available with a 5% deposit and works when you buy a per cent of your home.

Usually, the buyer pays for 40% to 60% of the property, and the remaining part is rented from the local council or housing association.

You can even purchase as little as 25% of the build and pay rent on the remainder.

The only issue with this kind of scheme is that the monthly payments can be quite high, as you still need to make monthly payments to pay rent.

Help to Buy Scheme

The help-to-buy scheme offers residents of England a 20% equity loan, or 40% equity loan if you are based in London, to help them buy new build properties.

So, the government will provide additional funding to first-time buyers looking to purchase their first property.

Wales has its version of the Help to Buy scheme, whereas Northern Ireland and Scotland do not currently offer this kind of scheme.

How To Find a 5% Deposit Mortgage Broker

Following the Spring 2021 Budget announcement, several major lenders from the Bank of England base have agreed to offer them.

This includes Santander, Barclays, HSBC, Lloyds Bank, and Natwest, with many more like Virgin Money likely to join soon.

Comparing loans before choosing one to borrow from is a good idea, as you could save money.

Make sure to consider lenders authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.  They should also be registered in England if you want to buy a home. They can offer the best value mortgage based on your credit score.

When choosing a company that is authorised and regulated by the Financial Conduct Authority, you could also be protected as this is a government department.

This scheme could change market rates across the country, making it cheaper to buy a house than it has been. There will likely be more options in the future for those who want to borrow money to go towards a house, as more lenders could start to offer 95 percent mortgage loans.

To find the best deal, make sure to compare lenders. The payments can differ based on the kind of mortgage you take out, whether that is a fixed rate or variable rate, and how much you can borrow in the first place.

At 95 percent mortgages, we can assist you with the best specifications, costs and prices. Make sure you contact us today for some great 95 percent mortgage services.

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Can I Get a 95% Mortgage With Poor Credit?

If you want to buy a home, whether that is through a 95% mortgage or another option, you will need to go through affordability checks.

This is something the lender will do when you apply for a mortgage, and it is used to determine whether you can afford the repayments required on your mortgage every month, along with other essentials coming out of your bank.

As a homebuyer, you must provide that you can afford your new mortgage after any essential spending has been paid.

Your credit score is very important when finding a lender that will lend you the right amount of money in Hale.

With 95% mortgages, only a small deposit of 5% of the property value is required, which makes getting onto the property ladder easier for most people.

It is possible to get a 95% mortgage with bad credit, but you could find that your options are limited.

Some kinds of black marks on your credit will hit harder than others, so it may be worth working on your score before applying for a mortgage in the first place.

You can compare mortgages from leading banks and see which offers the best deal for those with poor credit.

Can I Get Additional Borrowing If I Have a 95% Mortgage?

If you have a 95% mortgage from the government, you will not be able to take out any other loans.

The loan restriction lasts for the initial seven years of your 95% mortgage scheme unless you decide to remortgage with a different mortgage lender.

In such a case, you might be able to borrow again. However, checking any terms and conditions with your new creditor is advisable.

How Long Will 5% Deposit and 95% Mortgages Be Back For?

The current 95% mortgage scheme is running now. This is following the pandemic and the financial repercussions of this, during which many lenders have massively cut the number of high loans to value mortgages available due to a concern of property prices falling.

This new scheme is temporary, so if you want to buy a home with a low deposit, now is the time to apply.

If the government feels that the scheme has operated as expected and served as needed during this time, it will likely close after December 2022 in Hale.

What Does ‘LTV’ Mean?

LTV, regarding a 95% mortgage scheme, stands for loan-to-value.

It is the percentage of total property value covered by your mortgage. So, with a 95% LTV mortgage, you will only have a 5% deposit; the remaining 95% is paid via your monthly mortgage payments.

For example, if you gain a mortgage of £200,000 and your house has a value of £250,000, then your LTV is deemed 80%.

The value remaining after your Loan to Value (LTV) is what you own and is typically called equity.

Should You Continue To Save For a Larger Deposit?

If you can save and put down a larger deposit on your desired property, you may be able to choose from a wider range of mortgages with lower interest rates.

Therefore, if this is a viable option, saving up may be worthwhile so you can put forward a higher deposit.

If you are in a rental property in Hale and think you are wasting money, you might prefer to put a lower deposit to get your foot on the property ladder.

As house prices rise, purchasing property may become more difficult, so an LTV mortgage may be beneficial.

Make sure to consider all of your options before confirming a mortgage. Speak to our advisors today.

95% Mortgage VS Help to Buy

The Help to Buy equity loan scheme lets buyers take out a 5% deposit with an equity loan of up to 20%.

The benefit of a Help to Buy is you can access a mortgage of just 75%.

In London, you can take an equity loan of 40%, meaning you can get a mortgage of 55%!

On the other hand, the 95% mortgage scheme allows buyers to deposit just 5%.

90% Mortgages VS 95% Mortgages

With a 90% mortgage, you are allowed to put down a deposit of just 10%.

With a 95% mortgage, you can put down a deposit of 5%. A low deposit is great for individuals struggling to save for their down payment.

However, putting down a 10% deposit may also be beneficial, as it will help to lower your monthly mortgage payments.


Hiring us here at 95 Percent Mortgages is beneficial as we can provide expert and confidential mortgage advice in Hale.

We can offer various mortgage services, including checking your eligibility and helping you apply.

Our expert team has years of experience, so you can rest assured that your mortgage application is in the hands of professionals.

Get in touch with us today to learn more, or speak to a trusted advisor! We will find you a competitive deal with the government-backed scheme.

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Make sure you contact us today for some great 95 percent mortgage services.

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What Others Say About Our Services

We absolutely love the service provided. Their approach is really friendly but professional. We went out to five different companies and found 95 Percent Mortgages to be value for money and their service was by far the best. Thank you for your really awesome work, we will definitely be returning!

Jaidyn Morgan
Greater Manchester

We have used 95 Percent Mortgages for many years as they are certainly the best in the UK. The attention to detail and professional setup is what makes this company our go-to company for all our work. I highly recommend the team for the immense work - we highly recommend them!

Jaeden Brennan
Greater Manchester

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