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maybe you only have a five percent deposit and want to buy your first home in this video i discuss your options and the next best steps for you lets go [Music] [Applause] whats up alex kerr from mortgage chain and on this channel we provide the best tools and tips to first time buyers if were meeting for the first time please consider subscribing lets jump into the video what is a five percent deposit mortgage commonly known as a 95 loan to value mortgage this is where you place a 5 deposit into a property and receive a 95 mortgage so what are the pros and cons of a 95 mortgage the main benefit is that you only need to put a five percent deposit down meaning you dont have to save as much on the drawback side it will mean rates are higher risks are higher to the lender and should your property value decrease after you buy it you could go into negative equity what options do you have with a five percent deposit at the moment could buy shared ownership property there are currently ma