To buy a house in the current market, you’ll usually need at least 5% of a property’s value. Saving a larger deposit can give you access to better products and lower interest rates, but 5% of the property’s value is accepted by many lenders and can get you onto the property ladder.
If you’re struggling to save and want some tips
If you can’t save up a deposit, there are other options.
If you’ve saved up your deposit and want to know what to do next, you can get in touch with one of our expert brokers that can advise and guide you to the best mortgage available.
More than a 5% deposit will work in your favour as there are often more and better mortgage options available, plus with a higher deposit you’ll be taking out a smaller mortgage so paying less interest.
General Mortgage FAQ