Logo
DropdownArrow

Buy a home HoverArrow

Remortgage HoverArrow

DropdownArrow

Purchase HoverArrow

Remortgage HoverArrow

Buy to Let HoverArrow

Increase your affordability HoverArrow

With a guarantor

Increase your affordability HoverArrow

Without a guarantor

NEW: long-term fixed rate

Fix your interest rate for up to 40-years and increase your borrowing to 6x income. Rates from 5.69%

Learn more
Discover all our mortgage schemes
New
DropdownArrow

Lifetime ISA HoverArrow

Latest Articles HoverArrow

NEW: CASH LIFETIME ISA

Save with the market-leading rate

Open a Cash Lifetime ISA today and earn 4.30% AER (variable) interest on your savings. Over 5-years, that’s hundreds more in your pocket than with the closest market competitor.

DropdownArrow

Latest articles HoverArrow

DropdownArrow

Buy a home HoverArrow

Remortgage HoverArrow

Mortgage loginCheck my affordability

What are 85% mortgages and can I get one?

By
Anya Gair
Last Updated 4 January 2024

If you’ve saved up a decent house deposit and have begun to look into getting a mortgage, you might be wondering what an 85% mortgage is, and whether you can get one. In this guide, we’ll answer all your burning questions about 85% LTV mortgages. To see if you could be eligible for one, create a free Tembo plan today for a personalised recommendation.

In this guide

  • What are 85% mortgages?
  • Are 85% mortgages available?
  • Is 85% a good LTV?
  • Can you get an 85% mortgage?
  • Can you get an 85% BTL mortgage?

What are 85% mortgages?

An 85% mortgage, also called an 85% LTV (Loan to Value) mortgage, is a mortgage loan equivalent to 85% of the full property price of a home you want to buy. To get an 85% mortgage, you’ll need to put down at least 15% of the property price as a down payment, a.k.a your house deposit. You’ll then borrow the rest of the money from your mortgage lender. The mortgage loan and your deposit together will make up 100% of the full purchase price.

Are 85% mortgages available?

There is a wide range of mortgage lenders who offer 85% mortgages, both for traditional repayment mortgages and specialist schemes designed to help first-time buyers, or other people like doctors, nurses or teachers boost their buying budget. However, whether you can get an 85% LTV mortgage depends on if you have a big enough deposit, and whether you pass a lender’s eligibility and affordability criteria. If you have a low credit score, are self-employed or have a high Debt-to-Income ratio, you might struggle to be accepted for an 85% mortgage. 

Working with a mortgage broker that specialises in affordability can help you find mortgage deals you are likely to be accepted for, as well as ways you could boost your buying power. At Tembo, our online Fact Find will give you a view of what you could be eligible for in under 10-minutes, scanning over 100 lenders and over 20,000 mortgage products. It’s completely free, and there’s no credit check involved. 

Find out more: What to do if my mortgage application is declined?

See today's best 85% mortgage rates

Use our comparison tool below or create a free Tembo plan for a personalised recommendation.

Create a plan

Compare 20,000+ mortgages from over 100 lenders

£
£

LTV: 90.00%

The interest rates shown are an indication only and are not guaranteed. Current rates may have changed by the time you come to apply.

Is 85% a good LTV?

Getting an 85% LTV mortgage is normally better than a 90% or 95% mortgage because you will typically have access to lower mortgage interest rates. However, most first-time buyers put down a 24% deposit, which would mean getting a 75%-80% LTV mortgage. But putting down a down payment of this size is easier to do for some than others, depending on how much properties cost and what you can save.

If you need help boosting your buying power, you’re in the right place. Create a free Tembo plan to discover all the ways you could boost your borrowing.

Can you get an 85% mortgage?

You may be able to get an 85% mortgage, it all depends on whether you’ll be accepted by a lender or not. If you’re not eligible for their specific mortgage products, or don’t pass their affordability and credit checks, your mortgage application will be declined. It might be that you need to increase your affordability to be accepted, which can mean putting down a larger deposit or using a guarantor mortgage. For example, if you have adverse credit, you may have to put down a larger deposit as lenders may see you as a riskier borrower.

An expert in mortgage affordability like Tembo can help you work out what 85% mortgages you could be eligible for, as well as all the ways you could boost your affordability if you’re struggling to get accepted. Get started today.

Can you get an 85% BTL mortgage?

Yes, it is possible to get an 85% BTL mortgage, but it’s much more common that the maximum loan size available for a Buy to Let mortgage is 80% LTV or less. Few lenders offer Buy to Let mortgages at 85% or 80% LTV; it’s more typical to put down a 25% deposit, which means you’ll need to put down a bigger down payment. 

You might also like:How to get a Buy to Let mortgage

Am I eligible for an 85% mortgage?

There are thousands of mortgages on the market and it can be confusing to know which product you qualify for, or lender to apply for. Discover if you’re eligible for an 85% mortgage and what you could be offered by creating a free Tembo plan today.

Get started

Learn more

See all guides