How does a 95% mortgage actually work?

A 95% mortgage lets you buy a home by putting down just 5% of the property’s value as a deposit. The remaining 95% is covered by the mortgage from your lender. For example, if the property you’re buying is worth £230,000, you would need to provide a £11,500 deposit, and the lender would provide the other £218,500. This kind of mortgage is ideal for people who have a steady income but have found it difficult to save a large deposit. It can open the door to buying much sooner than expected.

Can I still get a 95% mortgage in Essex with rising house prices?

Yes, it’s still possible to access a 95% mortgage in Essex, even as prices climb. Lenders will assess how affordable the repayments are based on your income, outgoings, and overall financial position. The rising cost of property can make saving a large deposit feel out of reach, which is why 95% mortgages remain a valuable option. A mortgage broker in Essex, like ourselves will know which lenders are most supportive of buyers in your situation and can help you find a deal that keeps the upfront costs low while remaining affordable month to month.

Are 95% mortgages only for first-time buyers?

No, they’re not exclusive to first-time buyers. Home movers can also be eligible, depending on the equity they hold in their current property and the affordability of the new mortgage. If you’re moving to a more expensive home and your equity is low, a 95% mortgage might be a practical option. The criteria can vary from one lender to another, which is why it’s useful to speak with a mortgage advisor in Essex who can assess whether this type of product fits your next move.

Is my credit score going to hold me back from getting a 95% mortgage?

Your credit score will play a part in the decision, but having a few blips on your file doesn’t automatically mean you’ll be declined. Some lenders are more flexible, especially if you’ve shown improvement over time or the issues were minor. A strong recent track record of managing money responsibly can go a long way.

What sort of income do I need to be approved?

There’s no fixed salary requirement because it depends on how much you want to borrow and what your monthly outgoings look like. Lenders will calculate affordability based on your income, whether you’re employed or self-employed, along with any existing credit commitments. Someone with fewer financial obligations may be able to borrow more, even if they earn less.

Will I be paying a higher rate with a 95% mortgage?

Interest rates on 95% mortgages are usually a little higher compared to those with larger deposits. This is because lenders see a higher risk when there is less equity in the property. That said, rates have become more competitive recently, and some lenders offer attractive deals to those with good credit and stable income.

Does the government still help with 95% mortgages?

Yes, there are some mortgage schemes in place and is designed to give lenders more confidence in offering 95% mortgages. It does this by providing a partial government guarantee, which reduces the risk for lenders. This means more people with smaller deposits can access a mortgage that might not have been available otherwise. Not all lenders use the scheme, but our mortgage advisors in Essex can help identify which ones do and whether it could apply to your purchase.

How quickly can I get a mortgage offer?

The time it takes can vary, but once you’ve gathered all your paperwork and provided the necessary information, it can take just a few weeks to get an offer. Delays usually happen when documents are missing or when there are issues with the property or credit checks.

What happens if my 95% mortgage application gets turned down by a bank?

If your application is declined, it’s important not to panic. There could be a number of reasons, such as a missed detail or a specific lender requirement you didn’t meet. That doesn’t mean you won’t be eligible elsewhere. We’ll review the decision with you and explain what can be done next. .

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What are 95% mortgages in Essex?

A 95% mortgage allows you to borrow up to 95% of a property’s value, meaning you only need a 5% deposit.

This option is particularly beneficial for first-time buyers or those with limited savings.

Property prices in Essex can be high, this type of mortgage makes homeownership more attainable.

Our mortgage advisors in Essex can guide you through the available options, ensuring you find a deal that suits your circumstances.

It’s a popular choice for those eager to get on the property ladder without waiting years to save a large deposit.

Am I eligible for a 95% mortgage in Essex?

Eligibility for a 95% mortgage in Essex depends on several factors. Lenders will assess your income, credit history, and employment status.

A stable income and a good credit score can enhance your chances.

Additionally, the property you’re purchasing must meet certain criteria set by the lender.

A mortgage broker in Essex, like ourselves can review your details and help you understand the best route forward.

Can I remortgage to a 95% mortgage in Essex?

Remortgaging to a 95% mortgage in Essex is possible but may come with certain conditions.

Lenders will consider the current value of your property, the remaining balance on your existing mortgage, and your financial stability.

If your property’s value has increased or you’ve paid down a significant portion of your mortgage, you might qualify.

We can offer mortgage advice in Essex to see if this type of remortgage fits your situation.

Speak to an Advisor

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.

FAQs: 95% LTV Mortgages in Essex

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Julie Brake

We would have given them 20 stars. Both Warren & Lizzi have worked so hard on our behalf, in what has not been the smoothest of circumstances. They have been so professional and kept us updated. Would thoroughly recommend this company. With grateful thanks in getting us our mortgage.

12 May 2026

Abdul khaliq Mayar

I would highly recommend UK Money Man, especially Matthew Collinson and Paula. They have done an amazing job for me from start to finish. My previous mortgage broker got my application declined through TMW, and I was very stressed and worried. When I came to UK Money Man, they completely changed the game for me. Matthew was always helpful, professional, and kept me updated at every stage — even on his day off. That level of service really meant a lot to me. Paula was also fantastic and worked hard on my application. Thanks to their hard work and support, my mortgage was approved. I truly appreciate everything they have done for me and my family. I would definitely recommend Matthew, Paula, and UK Money Man to anyone looking for a reliable and supportive mortgage broker.

11 May 2026

Flc

Amazing company! Used them many times since 2018 and always a high standard of service! Would definitely recommend!

5 May 2026

William Thompson

I would like to say Thankyou to Jonathan and Dan for giving me an easy experience in sorting out my equity release.They were polite,friendly and very professional in their duties,and they made everything as easy as possible for me

29 Apr 2026

Yasir Noori

The team at UK Moneyman, especially Stacey Waudby and Matt Collinson, were fantastic. They have been really helpful throughout the process and in keeping me in the loop, with any update regarding the application

16 Apr 2026

Janiene Walton

Great service, very professional and I felt my adviser really was interested in helping me get the best deal for a repayment mortgage for my age group.

29 Mar 2026

Andrea McLaren

What a fantastic team. Can’t recommend them highly enough. Warren and Johnathan were so professional and so easy to talk and explain things to. Everything about my remortgage went smoothly thanks to them. I will certainly be recommending them to friends and family. Thank you guys for all of your help, couldn’t have done it without you.

20 Mar 2026

Paul PI

UK Moneyman provide an excellent service, in my case with complex conveyancing. Simple upload of documents, excellent comms and friendly. They took time to understand my needs and to explain options and prov8de illustrations of what I was agreeing to. Fee was reasonable and transparent with no hidden traos or surprises. When things were not quite going as expected (loan provider not UK moneyman this was sorted quickly and efficiently. I would thoroughly reccomend them if you are looking for a mortgage, especially if what you need is not quite standard. Warren and Lizzy did the work, thankyou both...

19 Mar 2026

Craig Butler

I had a great experience working with Leo and Jo as my mortgage brokers. As a first-time buyer, the whole process felt quite daunting at the start, but they provided clear and helpful information from day one, which really put me at ease. They were always quick to respond to my emails and kept everything moving smoothly, regularly following up and making sure nothing was missed. A special mention to the moment they called to let me know my mortgage offer had been approved. It made the whole experience feel exciting and personal, rather than just transactional. I’d definitely recommend Leo and Jo to anyone, especially if you’re a first-time buyer looking for guidance and support throughout the process.

18 Mar 2026

Groovy Gazza

Very happy with the service, everything was made so smooth and easy. They were on hand anytime to answer any questions All very fast and efficient would recommend them no problem

15 Mar 2026

Our Simple Mortgage Process

Free Initial Mortgage Appointment

Before anything else, we’ll talk through your income, spending, and credit history to get a sense of what’s realistic. This helps us work out how much you could borrow and what sort of mortgage might suit your plans.

Find the right deal

Once we know what you’re working with, we search through thousands of mortgage deals to match you with one that fits. We’ll look at things like interest rates, fees, and lender criteria so you’re not wasting time.

Apply for Your Mortgage

After choosing a deal, we’ll help put together your application and send it to the lender. This includes all your documents like payslips, ID, and proof of deposit. We’ll keep you updated at every stage.

Get Your Offer and Move Forward

If the lender is happy, you’ll get a formal mortgage offer. From there, we work with your solicitor and the rest of your moving team to help you complete the purchase and move into your new home.

Reasons to Choose Us

Free Initial Mortgage Appointment

We offer every customer a free initial mortgage appointment, with no pressure or hidden costs.

It’s your chance to speak to a mortgage advisor in Essex and find out what’s possible before making any commitments.

Expert Mortgage Advice

With years of experience helping buyers and homeowners, our team provides honest, straightforward mortgage advice in Essex.

Whether it’s your first time or you’ve done it all before, we’re here to help make things clear.

Our Service

We’re proud of how we treat our customers.

From the first phone call to the day you get your keys, our mortgage advisors in Essex take care of the paperwork, the lender updates, and everything in between.

Open 7 days a week

Life doesn’t stop at the weekend, and neither do we.

Our mortgage broker in Essex is available every day to work around your schedule, making it easier to get the support you need when it suits you.

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Benefits of a 95% Mortgage in Essex

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Essexmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.

UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.

95% Mortgages in Essex

95% Mortgages in Essex

What are 95% mortgages in Essex?

Am I eligible for a 95% mortgage in Essex?