NH4U Articles

First Time Buyers Rejoice! 95% Mortgages are back, and better than ever!

Posted in: Latest News

This month saw the new 95% mortgages hitting the market. The announcement of these mortgages a few weeks ago during the Spring Budget 2021 was met with plenty of praise and the property market has been awash with talk about them from both buyers and lenders alike. Customers have been keen to find out more about them and mortgage providers have been incredibly busy getting prepared to offer them to buyers.

Here at NewHome4U, we have been busier than ever. With first time buyers looking to buy their first property, the news of 95% mortgages couldn’t have come at a better time for them. It can be quite stressful to get together a decent deposit in this day and age and it may require plenty of sacrifices, especially to get your foot on the property ladder for the first time. Many lenders usually ask for a deposit of at least 10% but the higher the deposit is, the more positive it seems to be viewed. This means that people try to get a rather large deposit together which often pushes their home-buying plans back. With these mortgages now available, they can buy their homes much quicker than they originally anticipated.

These new mortgages allow people to buy a property with a much smaller deposit than before and as you can imagine, many people are keen to take advantage of them. With plenty of potential buyers browsing the market, we have also been busy with people wishing to sell. There has never been a better, quicker or easier time to sell because there are so many potential buyers out there. A busy property market is always a good market.

Our in-house mortgage brokers at Love Mortgages are jumping up and down with excitement for all of their first-time buyers as they are exclusively offering the first five-year fixed rate 95% mortgage with a fixed rate of 3.99% and a borrowing capacity of up to £500,000. We work with them to get you the property you want with the mortgage that you need and have many satisfied customers, past and present. Get in contact with us today if you want to find out more and we will certainly do all we can to help you achieve your dreams.


Love Mortgages - Mortgage Broker Chester


But what are 95% mortgages?

The announcement of 95% mortgages was fairly recent so you would be forgiven for not knowing all about them yet. However you are probably very keen to take advantage of one if you have a fairly small deposit, so it is important that you know a little more about them.

A 95% mortgage is a mortgage that enables you to borrow up to 95% of the purchase price of the property you want to buy. Your deposit makes up the remaining 5%. It is designed to help potential buyers get onto the property ladder sooner rather than later – meaning they don’t have to spend time-saving a larger deposit. These mortgages can either be fixed-rate mortgages or variable rate mortgages.

The Government announced the new 95% mortgage guarantee scheme in the Spring Budget of 2021. What is even better is that it is also available to all home buyers – not just first-time buyers – with many lenders agreeing to participate from April. This is a positive step forward for potential buyers – and is good for sellers too as many more buyers flood the market looking for their perfect property. With plenty of lenders on the market offering these mortgages, there could not be a better time to buy the house of your dreams.



We are busier than ever

Since the announcement of these mortgages, we have been extremely busy. People have been getting in contact both online and over the phone, they are very keen to find out more and to get their foot on the first rung of the property ladder. We are dedicated to offering great customer service to all of our clients, past and present and we are more than happy to help you in your quest - finding that perfect New Home 4 U.

We understand what people are looking for and we can see why people are keen to take advantage of these new mortgages on the market. Saving a deposit can be a long and tiring process with an amazing reward at the end but if people can get there a little quicker, then why not?

As you can imagine, many people are keen to get the process started and with the Stamp Duty Holiday extension only around until June 2021 (reducing down even more until the end of September), they want to get it sorted sooner rather than later. We are very busy with buyers and sellers alike but can’t wait to hear from you if you are looking to buy a property with a 95% mortgage, or sell your home quicker and more efficiently than ever. Call us at any time on 01352 837 837 or click here to send us a message.



Get in Touch

Don’t hesitate to get in contact with us – our outstanding customer service and amazing Google reviews and award recognitions speak for themselves. If you are looking to get onto the property market right now, there could not be a better time to buy. If you are looking to sell, it is a perfect time too. We hope you will consider us when looking for an estate agent. We are considered Mold’s friendliest estate agent for a reason!

We have a brilliant team who are keen to help you and are passionate about what we do. We know what we are talking about and how to help you find the property you want or achieve the sale you need. You can contact us here or give us a call on 01352 837 837. We can’t wait to get to know you and help you with exactly what you are looking for.