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Are there any 95% Loan-to-value Mortgages available in Northern Ireland?

Buy-to-Let, First Time Buyer, Help To Buy, Homebuyer, Mortgages, Remortgage, Self Build
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Are there any 95% Loan-to-value Mortgages available in Northern Ireland?

It is hard to save for a deposit in today’s economy regardless whether you are a First Time Buyer or a Home mover.  It is difficult if you own a property with little or no equity and want to get a remortgage while the rates are low.  Almost on a daily basis I get asked if there are there any 95% LTV mortgages available in Northern Ireland.

I thought this post might help even more people find the answer.

95% LTV Mortgages Northern Ireland (NI)

As a Financial Planner & Mortgage Adviser I always like to point out the risks with mortgages with such low deposits.  The Northern Ireland market is at best in the early stages of an economic recovery but what if NI house prices drop again? 95% loan-to-value mortgages could very quickly become negative equity mortgages.  It’s important to consider if you afford a bigger deposit?

So assuming you are comfortable with the risk; can you get a 95% loan-to-value Mortgage in Northern Ireland (NI) in the current market? The answers are shown in the table below depending on the type of mortgage you are looking for; Buy to Let, First Time Buyer, Help to Buy, Let to Buy, Remortgage, Self-Build or a Homebuyer mortgage.

95% LTV Mortgages

Mortgage Type

95% LTV Mortgage

Buy to Let


First Time Buyer


Help to Buy




Let to Buy




Self Build


As you can see 95% loan-to-value mortgages are few and far between and you need a good credit rating to get one.

Rates, Fees and Affordability

As with all mortgages the rates, fees and affordability calculations will vary from lender to lender.  For a 95% LTV mortgage in the current market, expect the fine tooth comb approach.

Good news for First Time Buyers, Help to Buy and Homebuyers with low deposits across Northern Ireland. Alas everyone else will have to save a little more or pay down their existing mortgages

From Acorns Financial Planning Ltd are based in Tyrone, Mid Ulster. We provide a comprehensive Financial Planning and Mortgage Advice service to clients across Northern Ireland and the UK.

Mortgage Advice

If you have any questions or if you need help getting a mortgage for a 95% LTV mortgage in Northern Ireland or further afield call 02895 815000, email [email protected] or leave a comment below.

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What you need to know about the Autumn Statement 2013

Business, General, Help To Buy, Mortgages, Pensions, Savings
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What you need to know about the Autumn Statement 2013


The income tax personal allowance will rise to £10,000 in April 2014 as expected and will rise in line with inflation from 2015/16.  Inflation will be measured by the Consumer Prices Index (CPI) in this context.

From April 2015, a new transferable tax allowance will be made available for married couples and civil partners who are basic rate taxpayers.  This will enable people to transfer £1,000 of their personal allowance to their respective partner.


A new welfare spending cap is to be introduced in 2014, although this will not include the cost of providing State pensions or Jobseeker’s Allowance.

Those claiming benefits aged 18-21 will need to demonstrate basic English and Maths, take skills training or they will risk losing their benefits.

Benefit claimants who are out of work for longer than six months will have to start a traineeship; do work experience or a community work placement rather than risk losing their benefits.

Some change is always good


The Basic State Pension will rise by £2.95 per week in April 2014, meaning a single pensioner will now receive £113.10 per week.

Plans were announced to increase the state pension age to 68 in the mid-2030s and to 69 by the late-2040s, based on the latest life expectancy figures.

For those with sizeable pension pots there has been no change to the way GAD rates are calculated for Income Drawdown.

Savings & Investments

The Annual Allowance for Individual Savings Accounts (ISAs) will rise to £11,880 in 2014/15 of which £5,940 can be invested in cash.

Junior ISAs and Child Trust Fund (CTF) limits will also increase to £3,840 per annum.

In a drive to encourage funds to locate in the UK, Exchange-Traded Fund (ETF) stamp duty will be abolished.  This could save investors 0.5% on domiciled ETFs next year.


It was announced that two more lenders, Aldermore and Virgin, are expected to join the Help to Buy scheme in December 2013.


From April 2015 employers will no longer have to pay employer National Insurance contributions for 16 to 21 year old employees, a potential saving of £500 for each employee on £12,000 per annum.

The business rate relief scheme for small businesses will be extended for a further year and end in April 2015. Additionally, the planned rate increase for all business premises will be capped at 2% from 2014.  A discount of £1,000 will be available for some small businesses and a 50% business rates discount will be available for those taking on vacant units.


Importantly for commuters the planned fuel duty rise next September of 2p a litre was cancelled, that’s as good as we can hope for in terms of fuel duty.

From April 2015 foreign residential property owners will pay capital gains tax (CGT) future gains on the sale of UK property.

We already mentioned the removal of stamp duty on the purchase of ETFs in the Savings & Investments section.

The Autumn Statement also contained a package of five measures to address tax avoidance and tax evasion.

What is the Help to Buy Scheme and how does it work?

First Time Buyer, Help To Buy, Homebuyer, Mortgages, Remortgage
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What is the Help to Buy Scheme and how does it work?

The Help to Buy scheme helps homebuyers and First Time Buyers who don’t have a lot of savings to buy a home.

The Help to Buy scheme is available to those who have a 5% deposit to put towards the purchase of a property.

Help To Buy Mortgage

How does the Help to Buy scheme work?

As with any mortgage application you need a good credit rating and to buy a home through the Help to Buy scheme you will need to have a 5% deposit.

Once you have found a suitable property you will then need to find a suitable Help to Buy mortgage from a willing Lender.  The Lender then applies to the government for a guarantee on your loan of up to 20% of the value of your property, which means if you default on your mortgage and the property is repossessed the Lender will be liable for this portion of the loan.

Who are Help to Buy schemes available to?

Help to Buy mortgage schemes are available to first time buyers, homeowners moving home and potentially those who need to remortgage.

Unlike other schemes the Help to Buy scheme will accept both new builds and second hand properties.  The property must be valued less than £600,000 (£400,000 in Scotland). Second homes and Buy to Lets are excluded from the scheme.

How do I apply for a Help to Buy mortgage?

A good Mortgage Adviser will help you source a suitable mortgage from a lender that operates in the Help to Buy scheme.

Remember there will be additional costs above and beyond the required 5% deposit, such as

  • Mortgage application & booking fees
  • Survey costs
  • Solicitor’s fees
  • Mortgage Advice fees
  • Buildings and contents insurance and life assurance

Of course the lender will have to carry out the usual checks on prospective borrowers such as assessing their credit report, assessing affordability including the ability to cover repayments if the interest rate increases.

Images courtesy of kennymatic on Flickr