First Time Buyer

Leading Fees Free 95% Mortgage Brokers

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    Find your Perfect 95% Mortgage - 100% Fees-Free

    Looking to make your first step on the property ladder quickly? A 95% mortgage could be the key to unlocking your buying potential – and your new home.

    Saving money for a mortgage deposit can be tricky – but 95% mortgages can help. A brilliant option for those struggling to reach the 20% deposit mark but keen to make a purchase, this mortgage product allows buyers-to-be to borrow up to 95% of the value of a property – helping secure that perfect home sooner rather than later.

    With 95% LTV mortgages currently available to both first-time buyers and home movers, there’s never been a better time to explore your borrowing options. Whether you’re just browsing, ready to apply, or somewhere in between, the Fees Free Mortgages team are here to help you get onto, or move up the property ladder – even with a deposit of as little as 5%. Best of all, we’re entirely fees-free.

    Our experts take pride in guiding buyers of all kinds through the mortgage maze. They’ll work from start to finish and beyond to discover and secure the very best 95% mortgage deals and rates for your unique circumstances – all on your behalf, and at no extra cost.

    What is a 95% Mortgage?

    Put simply, a 95% mortgage, also known as a 95% loan-to-value (LTV) mortgage, or 5% deposit mortgage, is a high-value, long term loan used to purchase property.

    As their name suggests, 95% mortgages require a smaller-than-average cash deposit – with just 5% of the property value to be paid upfront. This lessened upfront cost makes 95% mortgages a great option for those unable to save for a large deposit, those with a small amount in savings and looking to purchase a property quickly, or for first-time buyers.

    Though high LTV mortgages have existed for some time, they’ve received a recent boost from the government in the form of the 95% Mortgage Scheme Guarantee Scheme.

    This has re-launched the product’s popularity amongst mortgage providers and increased its availability to buyers. This scheme is set to run until December 2022, but non-guaranteed 95% mortgages should still be available following the cut-off date.

    This year, 95% mortgages are more accessible than ever – and could be the product you’ve been searching for.

    Am I Eligible to Apply for a 95% Mortgage?

    In order to secure a 95% mortgage under the 95% Mortgage Guarantee Scheme, you must meet all of your lender’s usual affordability and credit criteria. In addition, your selected mortgage should:

    • be for a property valued at £600,000 or less
    • have an LTV ratio of between 85% and 95%
    • be on a property to be purchased for primary residential use only
    • be a repayment mortgage (or interest only)
    • be taken out by an individual or individuals (not an entity or business)

    95% mortgages are also available outside of the guarantee scheme. These products may be subject to less strict criteria – but this will always be subject to the lender.


    Not Sure Where to Start?

    We know how confusing the world of 95% mortgage requirements, LTV ratios, and can be – and want to guide you through the process. Our leading 95% mortgage brokers are always available to offer independent, fully-tailored mortgage advice in plain, understandable terms, and at no extra cost – helping you kickstart your home buying journey whilst avoiding common mistakes and expensive pitfalls. We promise that with Fees Free Mortgages, you’ll always understand exactly what you’re signing up for.

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    Why Choose Us?

    Unlike the industry ‘big boys’, Fees Free Mortgages is motivated by clients – not commission. 

    Our experts provide mortgage advice relevant to individual circumstances; no strings attached.  Best of all, our comprehensive services are completely fees free!

    100% Fees-Free

    Most mortgage firms and brokers charge a fee for advice or arrangements - upfront, or on completion of your application. We’re different. Our team work on an entirely fees-free basis, meaning you’ll never be charged for our services - regardless of your circumstances.

    Real People, Great Service

    We believe that the best brokers provide a personal touch - not outsourced calls and automated responses. With Fees Free Mortgages, you’ll be assigned an in-house mortgage expert dedicated to your case.

    Unbiased Advice

    With thousands of mortgage options available on the market, it’s highly unlikely that you’ll get the best deal from your bank. On the other hand, whole of market brokers without lender ties are able to offer advice across a wide range of deals, accompanied by unbiased mortgage advice.

    Regulated and Accountable

    Selecting a mortgage advisor is a big step in one of the most significant financial decisions of your life - meaning it’s vital to ensure your final choice is trustworthy. Fees Free Mortgages are directly authorised by the FCA and are and fully accountable for the mortgage advice we give.

    Ongoing Contact

    We promise to handle all the hard work from advice to application completion, meaning you can sit back and relax whilst your dedicated broker and case manager scour the market, complete the paperwork, and keep you in the loop. With us, you’ll always be fully informed.

    Nationwide Service

    We believe everyone should have access to free, unbiased mortgage advice and brokerage. That’s why we’re proud to have developed flexible services benefitting clients from Cornwall to Carlisle and beyond. We’ll work to find your perfect mortgage, whether in-person in our flagship office, through one of our UK representatives, or over video call.

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    Can I Afford a 95% Mortgage?

    Ready to purchase a property but unsure of how much you’ll be able to afford? Our simple online mortgage calculators are here to give you a general idea of your loan to value ratio, how much you could borrow, and even what your monthly repayments may look like – all in just a few minutes. Whatever your situation, our simple mortgage calculators are here to help you crunch the numbers.

    Don’t Take Our Word For It

    Discover our clients’ mortgage success stories.

    I had so many questions and unknowns about buying my first home but none of them were too silly for Martin to answer. He helped me with finding the mortgage lender that suited me and did all the paperwork upfront, so to make everything run smoothly later on. He advised me with insurance and gave me me guidance and updates every step of the way. For me, Martin made buying my first home an exciting experience, not a stressful one and I would recommend him every time. Thank you.

    Rachael Parnell

    First Time Buyer Mortgage


    Martin Bright has been exceptional throughout a long and convoluted process. After three attempts at securing a house (and three mortgage searches), Martin was patient and professional, always happy to help and always finding a better deal than I thought possible. He explains things clearly and puts forward his thoughts and justifications in a very considered way. I have a 5yr fix at 0.9%. Which beggars belief really! Fantastic outcome, brilliant service and a thoroughly nice chap all round. Wouldn’t hesitate to recommend, and I already have done to a couple of friends looking to secure their own mortgages.

    Alex Prentice

    First Time Buyer Mortgage


    Martin and his team were always quick to respond from mortgage application through to completion. He provided valuable advice and insight throughout, especially during the economic downturn and rapid rises with interest rates, and secured us a great deal with a lightning fast turnaround. Also, Adelle made obtaining Life and Financial Protection insurance super easy – allowing us time to look through the deals she prepared and was always willing to explain complex or unfamiliar terms to us. When we end up moving house in the future – I’m sure I’ll be giving Fees Free Mortgages a call.

    Daniel Percey

    Free Mortgage Advice


    For anyone buying a new home, looking to re-mortgage or interested in setting up life cover – then Martin is absolutely your man. My wife and I have been using Martin for the past 4-years for our mortgages, personal and business life cover, and I would never go else where. Martin offers a very personal and professional service, he is extremely knowledgeable, honest and consistent, and is always looking for the best option for his client. I would highly recommend, great guy.

    Michael John Vingerhoets

    Self Employed Mortgage



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    We’re are ready to assist you in your mortgage journey - whatever stage you’re at. For expert fees-free mortgage advice, or to discuss any of our services, please reach out to us using the contact form below, visit us in our flagship branch, or reach out to your local advisor.

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    Our team of industry-leading advisors are ready to assist you in your mortgage journey. For expert fees-free mortgage advice, or to discuss any of our services, please contact us using the contact form below, or visit us in our flagship branch, or reach out to your local advisor.

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    The Mortgage Guarantee Scheme is available in England to all homebuyers who can save a 5% deposit. This is on condition that the property will be your only home, located in the UK, and of a maximum value of £600,000. This scheme will run until the 31st of December 2022.

    The government has said that they will enable the scheme to be used by lenders for both new builds and existing properties, but lenders are not obliged to have to include both. Some lenders include both, but others will only include certain buildings and exclude flats and maisonettes. This varies from lender to lender.

    The main, and most obvious benefit of 95% LTV mortgages is that they only require a 5% deposit, which means you can save for a deposit in less time. This could be especially important for first-time buyers, as house prices could increase at a faster rate than they can save.

    However, as this means that lenders shoulder a greater risk of loss in the event the buyer defaults on their payments, it means that often the maximum amount that can be borrowed is less than mortgages with traditional deposits, irrespective of credit rating and income. This maximum usually sits at £250,000.

    Additionally, because of the increased risk to the lender (because they are lending a greater sum of money with less deposit from the buyer), these mortgages will often command a higher interest rate than their counterparts. Usually, the higher the LTV ratio for the mortgage, the higher the interest rates are on the mortgage.

    Furthermore, because (for example, in the case of taking out a 95% mortgage) you will start out with 5% of the value of your home, a buyer’s risk of being in negative equity will increase. This can occur when house prices drop – leaving you owing more mortgage than the house is worth. As time passes and your percentage of ownership of the property increases, this will be increasingly negated.

    Finally, it may be more difficult for you to remortgage. Because your percentage ownership of the property is low (for example, you paid a 5% deposit), your LTV will take longer to decrease to the point where you can get the better rates offered from remortgages.

    In the aftermath of the COVID-19 pandemic, many areas in the finance industry were hit, including mortgages. Many high loan-to-value (the ratio of loan to the appraised value of a property) mortgages were discontinued during the pandemic, but thanks to government initiatives, 90% and 95% mortgages have returned.

    Certain lenders are now offering 90% and 95% mortgages again, which only require 10% or 5% deposits respectively. This means that prospective homebuyers, particularly first-time buyers, can save up for a house deposit faster than they previously could, meaning that you could own your own home sooner than before.

    The 95% mortgage guarantee scheme is available for application by all UK-based first-time buyers and home movers. Like other mortgages, you must pass an affordability test to prove you can afford the mortgage repayments, and a credit score assessment to show lenders that you have managed previous debts responsibly.

    If your credit history is currently less than excellent, you should begin to improve it at least six months prior to applying for a mortgage. You can do this by setting up direct debits to ensure bills are paid on time, registering to the electoral roll, and more. 

    In addition to this, it is a good idea to check your credit file before you make your application to ensure it is error-free. Small mistakes, like not updating your address after your previous move could affect your chances of being approved for a mortgage.

    Running initially between April 2021 and December 2022, the 5% deposit (95% mortgage) scheme aims to make banks and building societies more willing to offer mortgages with smaller deposits by making the government liable for the fraction of the mortgage above 80% should the homeowner default on mortgage repayments.

    The mortgages offered as a part of the scheme must only be for residential purchase (you must live in them; buy-to-let and second homes are excluded) only, valued at £600,000 or less, and can be for either existing or new build properties. Repayment type mortgages will be the only type of mortgage on offer under the scheme, and there is the option of an initial fixed rate for the first five years.

    Under the terms of the 5% deposit (95% mortgage) scheme, second homes and buy-to-let properties are not eligible to participate; you must live in the property. Existing and new-build properties, both to a value of £600,000 are eligible for 5% deposit mortgages initially until the 31st of December 2022.

    Coming into effect on the 19th of April 2021, the scheme defines the maximum bounds the government will back. Some lenders will differ, for example, Santander will only participate in the scheme with existing builds, not new builds, and will only offer mortgages for flats and other leasehold properties up to a value of £400,000.

    A 95% mortgage is a loan from a bank or building society that makes up 95% of the market price of the property you seek to purchase. The remaining 5% is your deposit. With a 5% mortgage deposit, you’ll be able to save up to buy your dream home sooner.

    For example, with a 95% mortgage on a £200,000 property, you would need to save £10,000 (the 5% deposit) to be eligible. 95% mortgages typically come with higher interest rates as a compromise, compared to mortgages with a larger deposit. Additionally, as a part of the government’s 95% mortgage guarantee scheme, 95% mortgages will only be repayment mortgages, not interest-only mortgages.

    The 95% mortgage scheme is gaining traction among a variety of major lenders. Banks such as Halifax, NatWest, HSBC, Barclays, and Santander are participating in the scheme, with many more banks and building societies to follow suit in the coming months.

    Both building societies and banks are not legally obliged to offer mortgages with 5% deposits, but many have committed to launching 95% repayment mortgage deals to help first-time buyers get their foot on the housing ladder and to help home movers to release equity. Buyers will have the option of a fixed rate for the first five years too.

    Nationwide are offering a real gamechanger at the moment called the helping hand mortgage. Subject to initial criteria, applicants can borrow 5.5% income – which is unheard of at 90%+95% mortgages. To learn more about the helping hand mortgage, reach out to one of our advisors for a free consultation today.