If you've saved up a 5% deposit you'll probably want to know how much you could borrow with a 95% mortgage, and whether this would be enough to afford a property.
Your salary is one of the main things a mortgage lender considers when deciding how much you can borrow. Our 95% mortgage calculator shows what property price you might be able to afford, plus what the mortgage repayments would look like, based on your income and a 5% deposit.
How do I get a mortgage with a small deposit?
There are a few different ways of getting onto the property ladder with a small deposit. Find out more in our guides:
- 95% mortgages - you borrow 95% of the property price from a mortgage lender
- Guarantor mortgages - your family member could guarantee the loan, potentially helping you borrow more at better rates
- 100% mortgages - with the help of a guarantor you could buy a property without any deposit at all
- Help to Buy equity loans - the government will loan you a percentage of the price of a new-build property, meaning you take out a smaller mortgage
- Shared ownership - you buy a share of a property and pay rent on the rest.
If you're in the process of saving for a deposit and want an idea of when you'll have saved up enough to buy in your particular area, check out our mortgage deposit calculator.