How much deposit do I need for a mortgage?
How much deposit you need for a mortgage varies depending on a number of factors, such as the amount you want to borrow and the price of the property you wish to purchase.
Typically, first-time buyer mortgages are available with a 10% deposit. However, our team of mortgage advisers are able to source first-time buyer mortgages for as little as a 5% deposit.
Generally, the bigger the mortgage deposit the greater the variety of mortgage rates and deals available to you, the better the rate and the lower your monthly repayments. Our mortgage advisers can recommend the best option for you. They'll take away the stress of picking the right mortgage as they search over 50 lenders before recommending the best mortgage for your individual needs. To help you further they'll also do the legwork of filling in your application, arranging valuations, checking offers and assisting you all the way until your mortgage has been completed.
Can I get a mortgage without a deposit?
Generally you will need a mortgage and the best mortgage deals require more than a 10% deposit. If you can’t afford to put the full deposit down there are other options to house ownership.
Help to Buy and NewBuy scheme
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE