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95% Mortgages in Manchester

Achieve Homeownership with 95% Mortgages in Manchester

Looking to buy a home in Manchester with just a 5% deposit? Our expert brokers at Search Mortgage Solutions can help you secure a 95% mortgage. We offer personalised advice, access to the best deals. Let us make your homeownership dream a reality.

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5% Deposit Mortgages in Manchester

5% mortgages enable you to own a home with just a 5% deposit, with the mortgage lender covering the remaining 95%. This option is especially attractive for first-time buyers in Manchester who find it challenging to save a traditional 10% deposit.

For instance, if you’re eyeing a property valued at £200k, you’d only need a minimum deposit of £10k (5% of the property value). The remaining £190k would be financed through a 95% mortgage.

These mortgages aren’t limited to first-time buyers. Existing homeowners in Manchester looking to remortgage and release capital for various purposes can also take advantage of 95% mortgages.

If you need advice on 95% mortgages in Manchester or have questions for our experts, don’t hesitate to reach out. Your first mortgage consultation is completely free, so take this opportunity to start your journey toward owning your dream home!


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Securing a 95% Mortgage

Your income and employment status are crucial to securing a 95% mortgage. Mortgage lenders must ensure that you have a stable and reliable income to support the monthly mortgage repayments.

The type and construction of the property you’re interested in can also affect your eligibility for a 95% mortgage. Some lenders may restrict specific property types, such as leasehold flats or homes built with unconventional materials.

Your existing credit commitments are another critical consideration. Mortgage lenders will review any personal loans, car loans, or credit card debt you currently hold. They want to see a good track record of managing and repaying your debts on time.

Lastly, your credit score and account conduct are vital. Lenders will assess your credit history to see if you have a record of late payments or loan defaults. A strong credit score improves your chances of securing a 95% mortgage in Manchester.

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0161 710 2587

Search Mortgage Solutions

Is This the Right Time for a Mortgage Over 60?

At Search Mortgage Solutions, our expertise and support have helped numerous first-time buyers, home movers, and existing homeowners secure competitive 95% mortgage deals with just a 5% deposit in Manchester.

Whether you’re applying for a joint or sole-name mortgage, our team is here to assist you.

Our comprehensive mortgage broking service includes informing you about the maximum amount you can borrow and providing crucial insights into your monthly payment obligations. Additionally, we will prepare a mortgage agreement in principle to ensure a smooth and efficient process.

Reach out to our dedicated mortgage advisors in Manchester today. We are here to guide you through every step of your mortgage journey.

  • Aaron was fantastic. We had a few highs and lows in our house buying process and he guided us through the issues expertly and was always on hand to answer our queries or calm our nerves! He went the extra mile for us and we really appreciate it. Thanks Aaron!.

    Liz Lawson
  • I found Aaron at Search Mortgage Solutions extremely helpful and a necessity in sourcing a remortgage and new mortgage. I find all of the legal vocabulary very confusing, so having Aaron break it all down for me and go through the different options made it manageable. Quick, efficient and easy. I would highly recommend this company..

    Cathy
  • I cannot recommend David and Search Mortgage Solutions highly enough, the service was exceptional throughout the whole mortgage process. I work away a lot and found it difficult to arrange an appointment with lenders, but David came to see us on a Sunday night to go through the initial application and always had time to answer any subsequent queries and keep us up to date. I felt confident that the whole team were giving us the very best service they could, and they could be relied upon to chase the application on our behalf and to deal with queries from the lender to take as much hassle away from us as possible. I would recommend to all of my friends and colleagues, and we’ll be back in 3 years for the renewal!.

    Adrian
  • I have been extremely happy with your assistance in helping us find and apply for our mortgage. You have always promptly responded to any questions I have had along the way and been clear and concise with all the information you have provided. You have made everything much smoother and easier to understand than I ever thought possible! Vicky Hayward you are a star – you go above and beyond I’m sure. You do a fabulous job and I will definitely be recommending you..

    Kay & Chris
  • Search Mortgage Solutions were recommended to me by a work colleague who had said they had been very helpful with the purchase of her first home and she wasn’t wrong! I didn’t really understand how the whole mortgage process worked as I was a first-time buyer, but David was excellent at explaining the process and he was very helpful and friendly. He was always prompt at replying and always kept us up to date with progress, he even sorted our life insurance too. The whole process was made simple and so stress-free and I would highly recommend David and the Search Mortgage Solutions team to friends and family. Thank you so much!!.

    Stephanie
  • This is the second time that I have used Search Mortgage Solutions and once again I’ve been very impressed. My advisor went out of his way to do additional research by talking directly to a series of underwriters and offered me a range of advice about how to increase my ability to borrow. The service has been friendly and efficient and, in terms of the product secured, got me exactly what I need. I’ll be recommending SMS to any friends who need a mortgage broker..

    Chris
  • I have used Search Mortgage Solutions twice now in the last 2 years, first when my wife and I purchased our first home, we had received so many knock backs from other brokers saying it wasn’t feasible yet David was excellent he searched the market effortlessly and worked hard to get us a deal which we could afford. Always kept us up to date with progress and even sorted our life insurance too. Therefore I had no hesitation returning when our fixed period was up to remortgage to a better deal which was taken care of swiftly. I have already recommended David and Search Mortgage Solutions to friends and family and will continue to do so..

    Neil
  • I just wanted to drop you a quick line to say thank you so much for all your help with the mortgage. As first time buyers you made the whole process extremely simple and stress free and we cannot thank you enough for all your assistance. Feel free to post this review on any websites you use. Thanks again for everything!! Thanks..

    Anne Marie
  • Search Mortgage Solutions where very courteous and prompt in all correspondence, further providing all necessary information in easy to access files that could be accessed via PC or mobile phone. When we agreed upon a new mortgage quote, Search Mortgage Solutions took care to arrange everything and have it all delivered to our home. Overall the service was prompt, friendly and thorough and we would highly recommend to anyone..

    Sarah
Search Mortgage Solutions
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Buy Your Dream Home

We offer our services to you at no cost, so why wait? Search Mortgage Solutions Mortgage brokers Manchester are here to help.

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Of Mortgage Deals

We have access to the whole of the market of mortgage providers and because we don’t charge a fee, this can mean a savings for you of hundreds of pounds.

  • Accord Scottish Widows
  • Precise Principality
  • Skipton Teachers
  • Santander Newcastle
  • Natwest Nationwide
  • Paragon Pepper
  • Platform Masthaven
  • Leeds Kent
  • Kensignton Halifax
  • Godiva Foundation
  • Fleet Family
  • Darlington Coventry
  • HSBC Vida
  • Mortgage Works TSB
  • Together Mortgage Lender
  • Chorley Beverley
  • BM Solutions Aldermore
  • Virgin Halifax

FAQs

Calculating how much you can borrow to buy a home will be based on your income / incomes. If you wish to apply for a mortgage, use our borrowing calculator on the website as this will give you a rough idea of how much a lender might offer you. This is based on how much you earn and whether you’re buying with anyone else. Mortgage lenders will decide how much you can borrow by basing income multipliers on your salary / salaries .Banks and building societies will offer between three and four-and-a-half times the annual income of you and anyone you are buying with. This means if you are buying on a single applicant basis and earn £30,000 a year, you could be offered anything between £90,000 and £135,000. There are exceptions to this, however, especially if you work in a certain profession and then income multipliers may be higher. Other factors will impact how much you can borrow as well. Lenders will want to know your monthly outgoings and how you spend your money to complete an affordability assessment. Loan repayments , student loans and credit card balances , Regular bills (e.g. gas and electricity) Transport costs Grocery costs Spending on leisure activities Recent bank statements may be needed and payslips to support your application.

Search Mortgage Solutions

Address

Search Mortgage Solutions
125 Deansgate,
Manchester,
M3 2BY
0161 710 2587

Statement

Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up with repayments on your mortgage

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