90% mortgages

A 90% mortgage could help you get on the property ladder with a smaller deposit or remortgage with less home equity.

Apply for a 90% mortgage

What is a 90% mortgage?

A 90% mortgage, also called a 90% loan-to-value (LTV) mortgage, means you’re applying for a mortgage to cover 90% of the property’s value. You’ll then put in a 10% deposit.

For example, say you’re looking to buy a house that’s worth £200,000. You already have a 10% deposit, which works out as £20,000. You could then apply for a 90% LTV mortgage to pay for the remaining £180,000.

A higher LTV ratio usually means a higher interest rate. This means a smaller deposit could increase your monthly repayments and total borrowing costs.

Why choose a 90% mortgage?

Lower deposit needed

With a 90% mortgage, your deposit will be 10% of the purchase price. This might help if you’re having trouble saving for a large deposit. It could also help if you have less equity in your current home and are looking to remortgage or move home.

Helpful for first-time buyers

90% mortgages can be a great option for first-time buyers looking to get on the property ladder. You may get better rates than with lower deposit mortgages and you have 10% equity. You could also borrow up to 5.5 times your yearly income with the first-time buyer boost.

Things to consider

Higher interest rates 

Remember that 90% is still considered a higher LTV, which could mean a higher mortgage rate. This interest will add up over your mortgage term. If you can, you might want to save for longer to build up a bigger deposit and lower your LTV ratio.

There’s still a risk of negative equity

You’ll only own 10% of the property, so if house prices fall significantly in the future, there’s a risk you could owe more than the house is worth. This is called negative equity.

Ready for the next step?

Mortgage calculators

For a better idea of how much your 90% mortgage might cost you, try the Lloyds mortgage calculator. Work out how much you could borrow and see the 90% LTV mortgage rates we could offer.

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Apply for an agreement in principle

See what your 90% mortgage could look like with Lloyds. Apply for an agreement in principle (AIP) to check how much we could lend you. It only takes about 10 minutes to complete online and won’t impact your credit score.

Apply for an agreement in principle

You could lose your home if you don’t keep up your mortgage repayments

Looking for other options?

Here are some other mortgage options that might be useful if you’re buying a new home.

  • 95% mortgage – you could save a 5% deposit and borrow up to 95% of the property price. If you’re remortgaging to Lloyds, the maximum LTV we can offer is 90%.
  • £5k deposit mortgage – if you’re a first-time buyer, you might be able to apply for a fixed-rate mortgage with a £5k deposit. 
  • Lend a hand mortgage – this helps first-time buyers get onto the property ladder with the support of family.
  • Shared ownership mortgage – you’ll pay a deposit and take out a mortgage on part of a property, then pay rent to a landlord for the rest.
  • Save up for a larger deposit – by saving up for longer, you could unlock better mortgage rates. Learn how to save for a deposit.

Let’s look at the details

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Mortgage help and guidance

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Brush up on the different types of mortgages available from Lloyds to find the one that works best for you.

Mortgage types 

Types of mortgages

Brush up on the different types of mortgages available from Lloyds to find the one that works best for you.

Mortgage types 

Important legal information

New Lloyds mortgages are provided by Bank of Scotland plc. Lloyds Bank plc and Bank of Scotland plc are both part of Lloyds Banking Group.