95% Mortgage


A 95% mortgage could be a consideration for first time buyers and home movers

This could allow you to buy a home with a 5% deposit, which may be helpful for:

  • saving up a deposit sooner
  • moving house quicker
  • getting on the property ladder earlier.

Ready to apply for a 95% mortgage?

Start your mortgage journey

What is a 95% mortgage?

A 95% mortgage allows first time buyers and home movers to borrow up to 95% of the property value, as part of the government’s mortgage guarantee scheme. A minimum 5% deposit then makes up the remaining total.

You will also see it called a 95% Loan to Value (LTV) mortgage, as you’re borrowing 95% of the total value of the property.

95% LTV mortgage example

  • You’d like to buy a house worth £250,000.
  • You have a £12,500 mortgage deposit, representing 5% of the property’s value.
  • You borrow the remaining £237,500 (or 95%) of the property’s value as your mortgage.

We offer eligible customers 90-95% LTV mortgages, depending on circumstances and deposit amount.

Check out our mortgage calculator to see how much you may be able to borrow.

Am I eligible for a 95% mortgage with Halifax?

A 95% mortgage could be an option for you, whether you’re a first time buyer or moving home.

You can apply for a 95% mortgage with us if you meet the following criteria.


  • A deposit of at least 5% but less than 10%.
  • Maximum loan amount is £570,000, inclusive of fees.
  • Maximum property purchase price is £600,000.
  • Repayment mortgage.
  • The property will be your only residence.

Not eligible:

  • Interest-only mortgages.
  • New build flats.
  • Publicly assisted loans – e.g. shared equity schemes.
  • A 95% mortgage isn’t compatible with other housing schemes, such as shared equity, shared ownership and Right to Buy.
  • Remortgaging to Halifax from a different provider with a 95% mortgage.

Whether you’re looking at your very first home or have been on the property ladder for a while, there’s a lot to consider. Take some tips from our first time buyer guide, or learn more about our moving house costs.

Is a 95% mortgage right for me?

Whether a 95% mortgage is the right choice for you depends on your circumstances. If you’re struggling to save up a larger deposit, this mortgage can be helpful for getting a foot on the property ladder.


Getting on the property ladder

If buying a home is a goal of yours, a 5% deposit can help you get on the property ladder quicker.

Fixed rate repayment mortgage

With a fixed-rate mortgage, the interest rate stays the same. This can help with budgeting your money and planning.


High loan-to-value ratio

Monthly mortgage payments may be higher with a 95% mortgage than one with a lower LTV ratio.

Potentially higher interest rates

Larger deposits than 5% could potentially help reduce your interest rate.

Risk of more borrowing

If the price of your property falls, you could owe more money on the mortgage than the property is worth. This is known as negative equity.

How do I apply for a 95% mortgage?

1. How much could you borrow?

We’re here to help you simplify the buying process. Learn how much you could borrow with our handy mortgage calculator.

2. Get an Agreement in Principle

Before you buy, you’ll need an Agreement in Principle (AIP). Discover why you need one and get started with Halifax.

3. Find a home you love

Once you have your AIP, it’s time to search. Create a dream home checklist and enjoy looking for something that fits your price range.

4. Apply for a mortgage

Found something you like? If you’ve had an offer accepted, you’ll need to complete your full mortgage application with us.

You can do this online if you don’t need advice, or you can speak with a mortgage advisor in a branch or by phone.

Buying your first home?

Buying your first home can be equal parts exciting and daunting. There’s a lot of information to take in and applications to fill out. But we’ll be there every step of the way to support you on your mortgage journey.

Get to know more about the process with our first time buyer guides.

95% mortgage frequently asked questions

You could lose your home if you don’t keep up your mortgage repayments

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Talk to us over the phone about your mortgage needs or try our mortgage video service from home.

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