We recognise that getting a foot on the property ladder can be tough – that’s why we’re offering 95% mortgages to first time buyers with a smaller deposit available.

  • Borrowing at this loan to value ratio can bring your dreams of owning your home into reach sooner, but please be aware there are downsides like higher monthly payments so consider your options carefully
  • A 95% loan to value (LTV) mortgage allows you to borrow up to 95% of your property value or the purchase price, whichever is lower - this means that you only need to contribute a minimum 5% deposit
  • You can calculate your LTV by dividing the amount you want to borrow by the value of the property divided by the purchase price then multiplying this figure by 100. Here is an example, if your purchase price is $200,000 and you have a $10,000 deposit, you would need to borrow $190,000. The LTV calculation would be $190,000 divided by $200,000 x 100, which in this example would mean that your LTV ratio is 95%
  • Borrow for up to a 35 year term with a Capital Repayment mortgage
  • The ability to make additional payments and overpayments (subject to conditions)
  • 95% mortgages are only available on our residential product range if you're purchasing a property with a loan size of up to $400,000. The maximum amount we will lend will depend on your individual financial situation, your other circumstances, the property you are looking to buy and the type of mortgage you choose.

Here are a few considerations

  • Please bear in mind that your monthly mortgage payments will be higher with a 95% mortgage when compared with a mortgage with a lower LTV
  • You always need to consider the risk of borrowing a higher amount secured on your property. If the value of the property falls below the amount of the outstanding loan, you may find it difficult to repay the mortgage if you sell the property
  • It is important to consider the amount of deposit you are able to put in yourself. Lower interest rates may be available to you should you be able to provide a larger deposit.

To get an estimate on how much you could borrow, get a Decision in Principle.

It only takes 15 minutes to complete and it will have no impact on your credit score. 

Contact us


Think carefully before securing other debts against your home.

Your home may be repossessed if you do not keep up repayments on your mortgage.

† Lines open Monday to Friday 8am - 9pm, Saturday 8am - 8pm, Sunday 9am - 6pm. Calls may be monitored and recorded. Opening hours within the mortgage departments may vary.

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