95% Loan To Value Mortgages (or Mortgages With A 5% Deposit)
Are 95% Loan to Value Mortgages hard to get?
An increasing number of 95% Loan to Value Mortgages are available from mortgage lenders. Typically, these are for first time buyers.
LTV mortgages are the highest exposure for mortgage lenders in terms of the loan to value. As a result, the mortgage lenders often impose a tougher credit scoring approach. It is quite typical for a mortgage lender to restrict the income multiples. Therefore, it is common for a larger mortgage advance to be available based on an applicant’s income for the same lender with a bigger deposit.
Additionally, to the standard 95% mortgage for property purchases, there are mortgages with parental guarantees. Today, 95% LTV Mortgages are available for remortgages.