How Much?

KB83

Hi All, my boyfriend and I have been saving for a while now to buy our own place and we were just wondering how much deposit we will need to put down whether it is 5% or 10% of the properties value.

Any suggestions?

Thanks

thejoose

If you only put down 5% the extra fees you will be charge will be not disimilar to how much you would need if you put down the extra 5% anyway as the lender will levy a Higher Lending Charge. This is what makes 95% mortgages the absolute last resort.

Find the 10% deposit and you can shop from a much wider and more competitive rnage of mortgage schemes.

koexelek

As Joose says, 10% has to be the way.

Also,there are very few lenders who will still entertain a 95% mortgage, so your choice is very limited, as well as expensive