COUNT READY · FIRST-HOME MORTGAGE ADVICE
A smaller deposit could help you buy your first home. We can help you check whether a 95% mortgage fits your income, the property and the money you need to keep aside.
Free initial consultation. Fees for further work vary by case and are agreed before chargeable work begins. Read about our fees.
Your home may be repossessed if you do not keep up repayments on your mortgage.
START WITH THE NUMBERS
Yes, some UK lenders offer mortgages covering up to 95% of an eligible home’s value. You provide the remaining 5%, subject to the lender accepting your income, credit history, deposit source and property. Having the deposit does not guarantee that you can borrow the rest.
Loan to value, or LTV, compares the mortgage with the property value used by the lender. A 5% deposit and a 95% mortgage can cover the purchase price where that valuation supports it.
Illustration only, assuming the lender accepts a £240,000 value and the full borrowing passes its checks. Buying costs are additional.
Compare the loan with your income and regular spending using our mortgage affordability calculator. Its result is an estimate, not a lending decision.
The lender assesses the whole application. Two buyers with the same deposit can receive different decisions because their income, commitments or chosen homes differ.
We can review a single income or a joint application. If you are self-employed or have credit concerns, explain that at the outset so the discussion starts with relevant options. A larger deposit or more preparation may be needed.
Lenders and conveyancers need to understand where the money came from. Savings and genuine family gifts may be acceptable, subject to the lender’s rules and a satisfactory evidence trail. Declare a repayable loan, overseas funds or any expectation of ownership.
For a new-build home, check the lender’s rules for houses and flats before paying a reservation fee. High-LTV availability, builder incentives, warranty requirements and mortgage-offer expiry dates can differ.
For a flat, the lease, service charges, building condition and any relevant safety or cladding issues may affect lending. The fact that a lender offers 95% mortgages does not mean it accepts every property.
Some products also serve home movers. This page focuses on first-time buyers; call us if you are moving home and want to discuss using a small deposit.
Buying sooner may be possible with a smaller deposit. Saving more reduces the loan needed for the same home and can widen the deals available. The right comparison includes your rent while saving, monthly budget, cash reserve and likely moving plans.
For a worked comparison of the extra saving time and cash to keep back, read whether a 5% or 10% deposit is better for you.
A 95% mortgage will often cost more than a comparable lower-LTV loan. Ask for a comparison using the same property price and mortgage term, including the initial rate, product fee, incentives and any early repayment charges.
A fixed rate gives payment certainty for the agreed fixed period. A variable rate can change. A longer mortgage term may reduce monthly payments but usually increases total interest if the other terms stay the same.
Use our repayment calculator to explore different loan amounts, terms and illustrative rates. Ask an adviser to check current products before relying on a figure.
Allow for conveyancing and searches, a survey, any lender valuation or product fees, agreed advice fees, moving costs and initial repairs. Check how buildings insurance will be arranged, including through a freeholder where relevant.
Property tax depends on location and circumstances: SDLT in England and Northern Ireland, LBTT in Scotland and LTT in Wales. Read our UK first-time buyer property tax guide; do not assume your purchase is tax-free.
The permanent UK Mortgage Guarantee Scheme introduced in July 2025 supports participating lenders offering eligible 91–95% LTV mortgages. It can support first-time buyers and home movers, but it is the lender that receives the guarantee.
The scheme does not give you a deposit, pay your monthly instalments or guarantee approval. You remain responsible for the mortgage debt. The lender still checks affordability, credit and the property.
Its rules cover eligible residential repayment lending; it is not a route for buy-to-let, second homes or interest-only borrowing. Not every 95% mortgage uses this government scheme. Check the current product with your adviser.
You do not need to have found a property to ask for an initial discussion. Start with your likely price range, available deposit, income, monthly commitments and when you hope to buy.
Tell us about credit issues, a recent job change, self-employment, gifted money or a property deadline. We can discuss whether to explore a 95% mortgage now or prepare further first.
Expect requests for identity and address evidence, income records, bank statements and proof of the deposit’s source. Self-employed applicants may need accounts, tax calculations and tax year overviews; gifts may need a donor declaration and source-of-funds evidence. We will explain the lender-specific requirements.
Where appropriate, this can provide a provisional indication of borrowing before a full application. It is not a mortgage offer. Ask which credit search the lender uses before proceeding; practices vary.
Once you have a suitable property in mind, we can compare relevant options within our advice scope and explain the recommendation, fees and application. The lender makes the lending decision; your conveyancer handles the legal purchase.
For the broader buying journey, see our first-time buyer mortgage advice page.
We can help you work through the gap between having a deposit and being ready to apply: how much borrowing is realistic, whether the property fits, and how the monthly and upfront costs compare.
Our mortgage advice considers products across the market, excluding deals available only by going directly to a lender. We explain our recommendation and support the application; neither advice nor an agreement in principle guarantees approval.
Count Ready Limited is an appointed representative of Connect IFA Limited, which is authorised and regulated by the Financial Conduct Authority. Count Ready’s register reference is 976111; Connect IFA’s is 441505. Check Count Ready on the FCA Register.
No. The 5% describes your contribution towards the property purchase, not the interest charged. A 95% mortgage describes the loan to value. The interest rate is a separate part of the mortgage deal and must be checked when comparing current products.
It is 5% of the price, but the lender would still need to approve £190,000 of borrowing and accept the property valuation and deposit source. You would also need money for the other buying costs. If affordability or valuation supports a smaller loan, £10,000 would not cover the difference.
Some products allow certain fees to be added, but you must check the lender’s maximum loan and loan-to-value rules. Adding a fee increases the debt and can mean paying interest on it. Your adviser should compare paying it upfront with adding it, where both are available.
Some specialist products may allow a smaller deposit or a different form of family support, subject to strict criteria. Availability can change and extra buying costs still apply. Ask for a comparison of the obligations and risks rather than assuming a smaller cash deposit makes an option more suitable.
Review your options before the initial deal expires. A new lender will assess the application under its rules; your existing lender may offer a product transfer. Your balance, the home’s value and your circumstances will affect the choices. A lower LTV or cheaper rate is not guaranteed, and early repayment charges may affect when you switch.
YOUR NEXT STEP
Request a callback for an initial discussion about buying your first home with a small deposit. If you already have a property in mind, you can mention its approximate price and whether it is a new build.
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We contact you to understand your circumstances, explain how we can help and discuss the next steps. Submitting this form is an enquiry, not a mortgage application.
Prefer to speak, need help with the form or have a time-sensitive question? Call 01245 934515.
Information checked: 7 September 2026. General guidance, not a personal recommendation. Mortgage availability, criteria and scheme rules can change. Explore our mortgage guides and service pages.
