deposit

TDMum

Excuse my ignorance but does having as big a deposit as possible increase your chances of getting a mortgage? For example would 40% be looked upon more favourably than 20% or is it the case of if the company is willing to give you a mortgage you'll get one whether you have 20% or 40%?
I'm just trying to number crunch as to how much we should set aside per month when our financial situation is cleared up in a few months and we're cleaning up our files. In reality we probably won't be in a position to buy for about 10-15years (unless we have a windfall) which I know is a very long time away but I would like to ensure we're doing our best to be able to buy our own place.

Thanks in advance

lee111s

Yes as there's less money at risk for the lender, plus the fact you have more equity in the house means you're less likely to put that at risk.