What is a 95% mortgage?

A 95% mortgage lets you borrow up to 95% of the property’s value, so you only need a 5% deposit to buy a home. It’s a popular choice for first-time buyers in Bristol who have a steady income but haven’t had the chance to build up a large savings pot. These mortgages work in the same way as any other mortgage, with affordability checks, credit assessments, and different product types such as fixed or tracker rates. We’ll help you understand what’s available and whether a 95% mortgage is suitable for your circumstances.

Are 95% mortgages just for first time buyers?

While 95% mortgages are often aimed at first-time buyers, they’re also available to existing homeowners who are moving to a new property. If you’re in Bristol and thinking about a move but only have a small amount of equity or savings, this type of mortgage can still be an option. Lenders will look at the usual factors, income, credit history, property type, and we’ll guide you through everything to see if this route fits your situation.

What income do I need for a 95% mortgage?

There’s no single income figure that guarantees approval. Most lenders will offer between four and five times your annual income, depending on how much you’re borrowing and how stable your financial situation is. They’ll also look at monthly commitments like credit cards, childcare, or loans. As your mortgage broker in Bristol, we’ll calculate how much you could borrow with just a 5% deposit and show you which lenders are most likely to accept your application based on your income.

Can I get a 95% mortgage with bad credit?

If you’ve had credit issues in the past, you might still be able to get a 95% mortgage, though your options will be more limited. Minor issues such as late payments or defaults may still be accepted by some lenders, while more severe credit problems could mean you’re asked for a bigger deposit. We work with a wide range of lenders, including those who specialise in helping people with poor credit, and we’ll check your credit file in detail before recommending the right mortgage.

Will I pay more interest with a 95% mortgage?

Interest rates on 95% mortgages are usually a bit higher compared to mortgages with larger deposits, because lenders see them as higher risk. That means your monthly repayments could be slightly more expensive. Over time, as your equity grows, you may be able to remortgage at a lower rate. We’ll explain how the interest rate affects your repayments and help you plan for future remortgage opportunities when your initial deal ends.

Can I use gifted deposit with a 95% mortgage?

Yes, gifted deposits are accepted by many lenders, even if the full 5% deposit comes from a family member. The person gifting the money will usually need to confirm in writing that the money doesn’t need to be paid back and that they have no financial interest in the property. This is common for first-time buyers in Bristol, especially where parents or grandparents want to help their children onto the property ladder. We’ll help you with the paperwork to make sure the lender accepts the gift without delays.

How much deposit do I need for a £200,000 property?

If you’re applying for a 95% mortgage, you would need a minimum deposit of £10,000 to buy a £200,000 property. That’s 5% of the purchase price. It’s worth noting that having slightly more than 5% can open up better interest rates and give you access to a wider range of mortgage products, but we can still help if you’re right at the minimum deposit level.

95% Mortgages in Bristol | Low Deposit Mortgage Advice

Can I get a 95% mortgage in Bristol with a 5% deposit?

If you’ve saved just 5% of the property price, a 95% mortgage could help you step onto the property ladder.

These mortgages are designed for buyers with a smaller deposit who can comfortably manage the monthly repayments.

Whether you’re buying your first home or moving to a new one, we’ll look at your income, credit history, and overall affordability to see if a 95% mortgage suits your circumstances.

Lender criteria can vary, so getting the right mortgage advice in Bristol can make all the difference when finding a suitable mortgage deal.

Who offers 95% mortgages right now?

Most of the high street banks and several specialist lenders are offering 95% mortgages, although availability can change depending on market conditions.

Some lenders will only accept certain types of income or prefer applicants with a clean credit record, while others are more flexible.

Our mortgage advisors in Bristol stay up to date with which lenders are currently offering 95% mortgages and how their criteria vary, so we can help match you with the most suitable option for your situation.

Is a 95% mortgage right for me?

A 95% mortgage could be the right choice if you have a stable income, a track record of managing your credit well, and you’re ready to buy with a small deposit.

Monthly repayments will usually be higher than if you were putting down 10% or more, but for many buyers, that’s a worthwhile trade-off to get on the property ladder.

As a mortgage broker in Bristol, we’ll look at your full financial picture and help you explore whether a 95% mortgage is the right fit or if there’s a better alternative based on your situation.

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Important information

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.

95% Mortgages FAQs

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Tamsyn

As first time buyers my partner and I were uncertain of our mortgage options so we chose to use UK Moneyman and I’m so glad we did. I have been really impressed with the service I have received from Jason and Debbie. From the initial...

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Excellent service, kept up to date and was advised every step throughout the process.

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Anonymous

Dan and Jonathan were both brilliant and kept me informed all the way after helping me find the product that was suitable for me. I wouldn't hesitate to use Moneyman again. We communicated by email and telephone.

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Anonymous

A bit of background - I was coming to the end of an interest only mortgage so sought advice on my options with the UKMoneyman and was introduced to Dan who was very helpful and went through my options of the different products and the pros and cons...

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Worth their weight in gold. Helped navigate a complex mortgage enquiry, we would have fallen at the first hurdle if we were applying on our own. Excellent response times and always kept us informed. Was on the fence about going with a broker at all...

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James

Malcolm and his team are so helpful, from the first call I had to discuss options all the way to getting my mortgage offer today. Any query I've had they answered immediately and offered to talk through my options, my case worker Lizzi was...

2 years ago

Jessica

Very responsive even in late evenings! Answered all of the questions that I had, explained the whole process through out and made the house buying process so much easier!

3 years ago

Anonymous

Helen was lovely to chat with, she booked me in for an appointment with a broker within minutes of me sending an email enquiry on a Sunday and explained everything about the process really well.

3 years ago

Eamonn

Spoke to several Mortgage Brokers about my situation and having talked to Malcolm, he fully understood my views and gave me his honest opinion. A very professional, friendly, and efficient service that enabled us to the best mortgage on the market.

5 years ago

Our Simple Mortgage Process

Free Initial Mortgage Appointment

Speak with a mortgage advisor to go over your deposit, income, and what you’re looking to buy.

We’ll explain your 95% mortgage options and what to expect next.

1000s of Mortgages

We search through 1000s of deals from banks and specialist lenders to find the mortgage that suits your needs, including options for buyers with just 5% deposits.

Mortgage Application

Once you’re ready, we take care of the application for you.

Your mortgage advisor in Bristol handles the paperwork and keeps everything on track with the lender.

Completion

When your mortgage offer is in place and legal work is complete, it’s time to collect your keys.

We’ll stay with you right through to completion, and beyond.

Reasons to Choose Us

Personal, Straightforward Service

From your first call to completion, you’ll deal with a dedicated mortgage advisor who takes the time to understand your situation.

We keep things simple, explain everything clearly, and stay by your side throughout the process.

Trusted by Bristol Home Buyers

We’re proud of the feedback we receive.

We are known for our friendly, responsive service, and we’re committed to giving every customer the same high standard of support.

1000s of Mortgage Deals

With access to 1000s of mortgage products across a wide range of lenders, we can find options that suit your deposit, income, and credit history, including deals not always available directly from banks.