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Mortgage deposit
lozzs_2
Posts: 1 Newbie
Is it true that since January lenders are now asking for a 15% deposit for a new mortgage as opposed to the 10% required last year? This is for those with existing mortgages not first time buyers.
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Comments
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No. There is no set minimum.
Some lenders offer 95% mortgages to everyone, others to existing borrowers only.
In most cases, the minimum deposit is still 10%.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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