FTB - do i need 20% dep

moneyinmypocket

I have my eye on a house - i currently have 17% of the asking price although I plan to try and get them down a bit. This will still leave me 1 or 2% short of 20% - I have heard there are more morgage options avliable for people with a 20% dep is this true?

kingstreet

Yes.

Although you'll find the trigger points tend to be 90% for getting a mortgage and 75% or less for the best deals.

I don't think there's a great difference in rates between 80% and 85% which is where you find yourself.