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All you need to know about buying your own home with a 5% deposit - 95% mortgages

95% mortgages

Online mortgages are provided by NatWest which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Royal Bank of Scotland may receive a fee based on a percentage of any mortgage entered into for this referral. NatWest and Royal Bank of Scotland mortgages are available to over 18s. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

What is a 95% mortgage?

  • A 95% mortgage, also known as a 95% loan‑to‑value (LTV) mortgage, lets you buy a home with a small deposit.
    You’ll need a deposit of at least 5% but less than 10% of the property value.
  • Your deposit is the money you put in yourself.
    Your mortgage covers the rest, so together they add up to the full value of the home.

Here are some simple examples to show what a 5% deposit looks like at different home values:

Home value 5% deposit
£150,000 £7,500
£200,000 £10,000
£300,000 £15,000
£500,000 £25,000

Am I eligible to apply for a 95% mortgage?

This mortgage is available to first time buyers or home movers. Along with the normal mortgage checks, to be eligible, the mortgage must be;

  • for a property valued no more than £600,000
  • on a property not classed as a new build property
  • a loan-to-value (LTV) of between 91% and 95%
  • a residential mortgage (i.e. not a buy-to-let mortgage)
  • a repayment mortgage and not an interest-only mortgage
  • taken out by an individual or individuals, not a business.
Get an Agreement in Principle Open in new window

How to apply for a 5% deposit mortgage

You can either apply online, over the phone or by video call.

Before you apply for a 95% mortgage you’ll first need an Agreement in Principle, which takes less than 10 minutes.

Then, if you're confident in your choice of mortgage and happy to take responsibility for the mortgage you've chosen, you can apply online or, if you'd like some advice, you can book an appointment with one of our mortgage professionals.

Call us now on: 0800 056 0567

Opening hours: Mon-Fri 8am-6pm, Sat 9am-4pm, Sun Closed. Excluding public holidays.

Relay UK: 18001 0800 056 0567

Buying your first home?

It can be daunting when you are looking to buy your first home. There are lots of things to think about and consider.

Why not take a look at our first time buyers guide to help get you on the path to buying your own home. 

First time buyers guide Open in new window

95% mortgage common questions

Need some help?

Call us

We're on hand to arrange a phone or video call with one of our qualified mortgage professionals. We can also help with any general queries about the process. 

Call us on ${dn-0800 056 0567} 

Relay UK: 18001 0800 056 0567

Opening hours: Mon-Fri 8am-6pm, Sat 9am-4pm, Sun Closed. Excluding public holidays.