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
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.