How To Get A 95% LTV Mortgage
Not all lenders offer 95% loan to value mortgages and those that do have set criteria to determine whether they are happy to lend on this basis.
The good news is that in recent years a number of lenders have relaxed their criteria for this type of lending. Things to be mindful of include:
- Lenders will charge you a higher rate on interest on your mortgage if you only have a 5% deposit. If you can get your deposit up to 10% this will help get the cost of borrowing down.
- While some lenders will be happy to lend if you have a 5% deposit, their decision to lend will be based on affordability criteria so factors such as your income, previous credit record and the amount you wish to borrow.
- Available for both first time home buyers as well as those moving home or buying a second property.
Latest 95% LTV Mortgage Offers:
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RBS Mortgages offers 95% LTV mortgages purchasing a residential property. Call RBS FREE on 0800 096 7447 to discuss how you could buy your next home with a 5% deposit.