Why are you looking for a mortgage? We ensure you're on the cheapest tariff. This is both because 95% mortgages are getting cheaper and 90% mortgages are growing more expensive. These new deals are now available from many high street lenders, including NatWest, Barclays, HSBC and Halifax. Others that will go up to 85% include Halifax and Metro Bank. 95% mortgages mean that first-time buyers or current homeowners are able to secure a mortgage with just a 5% deposit for a house up to the value of 600,000 ($838,695). From: The UK government will offer lenders the guarantee they need to provide mortgages that cover the other 95%, subject to the usual affordability checks. Halifax has revealed it will be launching new products for mortgage applications up to 95% Loan To Value (LTV), to support the Government Mortgage Guarantee Scheme on Monday 19 April 2021. The new mortgage guarantee scheme is designed to encourage lenders to start offering 95% mortgages, which disappeared almost entirely after the Covid-19 outbreak. Pre-empting the launch of the Governments mortgage guarantee scheme on the 19 April, a number of providers have already returned these deals to their ranges, with more set to join the ranks in the coming weeks. Product choice has now recovered to 74 per cent of its pre-pandemic level. That impact has been laid bare by the numbers from Halifax last week, showing that the average house price is now 252,765, so a 5% deposit under Help to Buy or the 95% mortgage guarantee scheme would still require buyers to have saved 12,600 plus legal fees; an extortionate hurdle for those who struggle to save whilst renting. As it stands, mortgage lenders tend to only offer loans of up to 4.5 times the buyers salary. As long as you have at least a 5% deposit (which can be wholly gifted), and you have family that can give us additional security by using their savings or having a charge on their own property, we may be able to help. Halifax is leading the charge with 95% mortgages for the Help To Buy 2 Mortgage Guarantee Scheme already on the shelves. The government has confirmed that it will cover the risk of 95 per cent mortgages through a guarantee for lenders. The 95% mortgage scheme explained. Halifax is relaunching 90% loan-to-value (LTV) mortgages for first-time buyers on 8 December. The mortgage guarantee scheme The scheme is open to new 95% mortgages until 31 December 2022, with participating lenders offering 95% mortgages under the government guarantee from 19 April 2021. Explained: the governments 95% LTV mortgage guarantee scheme. Halifax will consider interest-only mortgages if there is a repayment plan in place but borrowers in financial difficulty will not be accepted. Halifax outlined that if an applicant needs to increase their LTV above 85% on an application that has already been submitted, then they will be subject to the new criteria. Halifax Help To Buy 2 Mortgage Guarantee 95% Products Reviewed Halifax of course is probably the most recognisable mortgage brand in the UK and under the greatest pressure to support the Government following their high profile bail out amidst the credit crunch. A 95% Loan to Value or 95% LTV mortgage lets you borrow 95% of the value of the property you're buying. The MoneySavingExpert founder cautioned buyers as he warned some of the deals on the government's 95% mortgage guarantee scheme aren't the Halifax Figures from Moneyfacts show the best value offering as a Halifax two-year fixed mortgage at 3.73%, with an arrangement fee of 999. Both because 95 % mortgages are growing more expensive will be available to first-time buyers on 8 December of deposit. 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