95% Mortgages Explained | No fee 95% Mortgage Advice from Go Direct

What is a 95% LTV Mortgage?

95% LTV mortgages are where you must provide a deposit of 5% of the purchase price.

There are many mortgage lenders that offer competitive 95% mortgages though these rates can change quite regularly.

Most lenders offer better interest rates at 90% loan to value and currently 95% LTV is what most lenders are happy to lend at.

Mortgage income multipliers/affordability can be lower for 95% mortgages compared with mortgage lenders income multipliers for 90% borrowing.

Pros and Cons of of 95% Mortgages

Pros

You can buy a home if you have a small deposit
You wont have to wait as long to save a larger deposit which may save you money on the value of your first home

Cons

Higher interest rates compared to mortgages with a lager deposit
High mortgage set up costs as many 95% mortgage lenders charge a higher lending charge
Lenders tend off lower mortgage amounts for your income compared with larger deposits

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

95% Mortgage Lenders Maximum Borrowing

When looking at 95% best buy table it is important to realist that mortgage lenders place limits on the maximum mortgage they will advance. In many cases a purchase price over £250000 will see many of the main 95% mortgage lenders offering lower loan amounts.

Do you want No Fee 95% Mortgage Advice?

For no fee 95% mortgage or remortgage advise please feel free to contact us for for expert mortgage advice from our representative whole of market panel of lenders. We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances such as complex cases or debt consolidation. Our typical fee would be £399.

95% LTV Mortgages Explained