• David Baird

How much deposit do I need?

Updated: Oct 5, 2020

In a market of increasing noise and hyperbole it is

difficult to ascertain what this figure would be. If you

read many of the newspapers and major news sites,

they would have you believe you would require a 20%

deposit to purchase your first home. Thankfully this is

not the case. At the time of going to print, 10% is the

minimum deposit required. The 90% mortgage market

is restrictive with only two retail lenders currently

offering these, meaning the terms offered are not


It goes without saying that the more deposit you

can put it in, the more favourable the terms will

be. However as an independent, whole of market mortgage broker

with over 10 years experience, not every

client is able to do this and it is a positive to

feedback to clients that there are options in the

90% market.

If we have learned anything from the last few

months, it is that predicting what will happen in

the future is a dangerous game. However I am

confident that we will see the 90% mortgage

market widen and regional building societies have

an important part to play.

Get in touch to receive independent mortgage advice.

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