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A 95% mortgage is a type of home loan that allows buyers, whether they are first time buyers or moving to a new home, to secure a property with only a 5% deposit.
The remaining 95% is covered by the mortgage lender. This type of mortgage is particularly appealing to first time buyers who may not have the financial means to save for a traditional 10% deposit.
For instance, if you are purchasing a property worth £200k, you would only need a minimum deposit of £10k and then apply for a 95% mortgage of £190k to cover the remaining purchase price.
In addition, 95% mortgages are also an option for current homeowners who are looking to remortgage in order to release capital for various reasons.
This will require careful consideration of various factors, such as your income and employment status, the type and construction of the property, and any existing credit commitments like personal loans, car loans, and credit cards. Additionally, your credit score and history will also play a significant role.
Securing a 95% mortgage with only a 5% deposit can be challenging without the guidance of a knowledgeable mortgage broker in Nottingham. It’s worth noting that the interest rates on these types of mortgages are typically higher than those with lower loan to value ratios, as they pose a greater risk to the lender.
Our 95% mortgage advice in Nottingham has successfully helped numerous first time buyers, home movers, and current property owners in securing 95% mortgage deals with only a 5% deposit. We offer both joint and sole name options for 95% mortgages, catering to a variety of needs such as first time buyers, home movers, or those looking to raise capital.
As part of our comprehensive service, we will provide you with an accurate assessment of how much you can borrow on a mortgage, as well as the monthly payments and a mortgage agreement in principle document.
With our extensive experience and expertise, we are able to help with various situations, including family gifted deposits, purchasing from a landlord or below market value, and complex financial circumstances.
We also offer options for those with bad credit, individuals over 50, and those looking to remortgage for capital raising or debt consolidation. Our services are also available for self employed individuals with complex income situations.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
A 95% mortgage can be obtained either through a mortgage broker, like our company, or by directly approaching a lender. However, there are several potential challenges that may arise during the application process for a 95% mortgage, such as difficulties with the mortgage application itself, the property survey, valuations, and the conveyancing process.
To ensure a smoother and more successful experience, we highly recommend utilising the services of a reputable mortgage broker who can guide you through the process and save you both time and money.
When applying for a 5% deposit mortgage, you will need to provide certain documents, including proof of earnings, bank statements demonstrating responsible account conduct, identification, evidence of deposit for a new purchase, a credit report showing any registered debts, and details of any existing credit commitments, such as loans and credit cards.
Due to the high level of risk involved for the new lender in a 95% mortgage, a thorough application process is conducted. Additional documents may be requested on a case-by-case basis, depending on your individual circumstances.
A 95% mortgage is a type of loan that covers 95% of the property’s value. To secure this mortgage, you must provide a minimum 5% deposit towards the property purchase, with the remaining amount being financed by the mortgage.
For example, if you are purchasing a property for £200k, you would need to contribute £10k as a deposit, which is equivalent to 5% of the purchase price. This deposit can come from your savings or a gift.
The remaining £190k will be applied for as a mortgage, which you will repay monthly for the typical term of 30 years for first time buyers. If you have more than a 5% deposit available, it may be beneficial to compare 90% LTV mortgages to potentially save money on your monthly payments.
Many banks provide 95% mortgages to individuals who are purchasing a home for the first time, moving to a new home, or seeking to remortgage in order to raise capital for various reasons. Each bank has its own set of affordability assessments and criteria for these mortgages.
As such, it would be beneficial to seek the help of a knowledgeable mortgage broker who can help you find the most suitable deal based on your specific circumstances.
Additionally, there are lenders who offer 95% mortgages to individuals with poor credit or who are self-employed, making it easier for first time buyers to enter the property market.
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4.96 Rating352 Reviews
Robert
UK Money Man, Conor and the team were great and sourced us a mortgage that we were unsure we could get. Second time using UK Money Man and we would certainly use them again. Fantastic service
1 month ago
Olivia
As a first-time buyer, I wasn’t really sure what to expect with getting a mortgage, but Matt at Nottingham Money Man was brilliant from start to finish and immediately put us at ease from the first phone call. He explained everything really...
2 months ago
Anonymous
Very helpful, just what we needed.
2 months ago
Karen
Smooth transition. Meetings on time. Lovely and really helpful staff who know what they’re doing and all for your best interest.
2 months ago
Katie
These mortgage brokers are amazing, there quick responses made a stressful time feel like a breeze and answered any questions I had promptly and in detail. I could not recommend a better mortgage broker!
2 months ago
Christian
Great service and independent advise one again and our 3rd remortgage with Nottinghammoneyman. Found us a great option once again and a mortgage offer recieved very quickly. Would strongly recommend to anyone.
3 months ago
Abigail
I've used these Mortgage Brokers since I purchased my first house. I have renewed my mortgage with them twice since, it's helpful that they send you a reminder to discuss options 6 months before the renewal. Conor Longthorn who helped me with...
3 months ago
Anonymous
The staff (Matt and Lewis) were really helpful at every stage and got me a mortgage without much hassle at all.
3 months ago
E
Brilliant service from Paula Milner and Malcolm! If you have a particularly complex case as mine was this is the team whose hands you want to be in. Paula has the patience of a saint and handled the ups and downs of this process with empathy and...
4 months ago
Anna
Have dealt with this company for a few years now. Always seems hassle free and straight forward. Very good communication via email and phone appointments. Will continue to use and recommend 👍
4 months ago
Mr Christopher
Was very helpful and couldn’t thank enough
4 months ago
Dylan
Can’t thank Leo from Nottingham Money Man enough, with us every step of the way answering all the questions us as first time buyers had and helping with organising solicitors and lift insurance, can’t recommend this gent enough.
5 months ago
Tom
Charlie and Lizzi were always quick to respond whenever we got in touch and never failed to be helpful with all of our queries and requests.
5 months ago
James
This was my third mortgage with Nottinghammoneyman and they were excellent as always. There were lots of issues with the lender and they took the stress off by chasing them for me a lot.
7 months ago
Maggie
Both Dinah and Jo were great,friendly patient when answering my questions and throughly professional at all times. I am a first time buyer so knew nothing of the process involved. So thank you Dinah and Jo you couldn't have made it any easier for me
7 months ago
Emma
Malcolm was very patient, with me taking a long time to choose a property and with me being very indecisive. He support me through the whole thing and was always at the other end of the phone for any question or support!
7 months ago
Shaun
Listened, advised well and very efficient. Excellent
7 months ago
Anonymous
Very friendly and efficient service
8 months ago
Benjamin
All ways out standing all ways there to help and find a very good deal 5 star service every time
9 months ago
Callum
Fantastic communication from everyone. Helpful and supportive at every step, couldn't ask for more.
9 months ago
At your complimentary mortgage consultation, you will have the opportunity to converse with our skilled mortgage specialist in Nottingham. They will carefully evaluate your earnings and expenditures.
After discussing your needs and preferences, we will efficiently obtain your mortgage agreement in principle (AIP), typically within 24 hours. This is a valuable resource to have when making offers on a potential property.
Once your offer on a property has been accepted, our devoted mortgage advisor in Nottingham will handle the process of submitting your mortgage application and providing any extra documents needed by the lender.
Our team is dedicated to not only finding the perfect mortgage deal for first time buyers in Nottingham, but also providing them with comprehensive insurance coverage to protect their financial security and that of their loved ones.
Schedule a free initial mortgage consultation through our convenient online booking system today. Booking an appointment with a knowledgeable mortgage specialist has never been easier!
As a mortgage broker in Nottingham, we possess the capability to obtain a wide range of exclusive and highly competitive mortgage options. Our extensive network of mortgage lenders and strong partnerships with each of them allow us to potentially secure the ideal mortgage arrangement for you.
Our extensive collection of customer reviews serves as a testament to the quality of our service. Throughout the years, we have amassed a wealth of positive feedback from our satisfied clients. We invite you to check out these reviews and discover for yourself why so many individuals trust Nottinghammoneyman for mortgage guidance in Nottingham.
As a transparent and trustworthy mortgage broker, we take great pride in the exceptional level of customer service we offer. Our top priority is ensuring your safety and security throughout your entire mortgage process.
Our doors are open every day of the week, starting early in the morning and staying open late into the night, even on weekends and select bank holidays! This allows you to connect with a committed mortgage advisor in Nottingham at your convenience.
Additionally, we offer appointments beyond the usual 9-5 timeframe, so you can schedule an evening meeting if it better fits your schedule, depending on our availability.
For those who are new to the home buying process, it’s natural to be curious about the maximum amount of money you can borrow for a mortgage. This information can give you a clearer picture of your budget and the types of properties that may be within your reach.
However, while a mortgage calculator can offer a rough estimate based on your financial information, it’s important to remember that this may not accurately reflect your specific situation.
There are various factors that can impact the amount you are able to borrow, such as your credit score, income, expenses, and the specific criteria of the lender and mortgage type you are applying for.
That’s why it’s always recommended to consult with a qualified mortgage advisor in Nottingham. They have the expertise to evaluate your individual circumstances and provide a more precise estimate of your borrowing capacity, as well as help you in finding the most suitable mortgage option for your needs.
One of the benefits of utilising our services as a mortgage broker in Nottingham is the ongoing support and guidance provided by our team of mortgage advisors throughout the entire process. This can be extremely advantageous.
At Nottinghammoneyman, our knowledgeable team can help you in obtaining your mortgage agreement in principle. Typically, we can accomplish this within 24 hours of your initial appointment.
It is important to note that having an agreement in principle does not guarantee a mortgage, but it does demonstrate to the seller that you are prepared and able to move forward.
In conclusion, our mortgage advice in Nottingham offers the expertise and guidance of our team, including help in obtaining an AIP that can strengthen your position as a first-time buyer when making an offer on a property.
Before making any offers, it is highly recommended to consult with a professional mortgage advisor in Nottingham. Once your offer on a home is accepted, we can then move forward with your mortgage application.
By working with a mortgage advisor in Nottingham, you can determine your eligibility for a mortgage and obtain an agreement in principle (AIP) to support any offers you make as a homebuyer.
As stated earlier, having an agreement in principle when making an offer is extremely advantageous during the process of purchasing a home. At Nottinghammoneyman, our team is typically able to obtain your mortgage agreement in principle within 24 hours of your mortgage appointment.
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Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2025.
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Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2025.
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