Best for: First-time homebuyers who need closing cost or down payment assistance. Many states and cities offer first-time homebuyer grants and programs in an effort to attract new residents. The Best fixed rate mortgage deals. TWO YEAR FIX. Sainsbury's Bank, up to 90% LTV, 2.24%. Fixed to 30 September 2021, then reverts to SVR (currently 4.49%) This mortgage from Sainsbury's Bank comes with £784 in monthly repayments for an annual cost of £9,160. There are no scheme fees and cashback is £500. For example, if a mortgage has an LTV of 95%, you will need a 5% deposit. On a £150,000 property, this would mean a deposit of £7,500 and a mortgage for £142,500. You can find 95% mortgages for first time buyers from a wide range of lenders in our comparison tables.