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Does the deposit size make a difference??

eleanor73 · 2015-03-10 15:03:41

Hey, Just wanted to ask people on here who are cleverer than me why a deposit size makes a difference to a seller? We have just had an offer rejected because 'the other offerer/buyer offered the same but had a bigger deposit'. Seems unfair? Why would they care? Thanks in advance. Eleanor P.S. Hope this is the right place…

Comments

eleanor73 Posts: 1,615 Forumite

10 March 2015 at 4:22PM

stator wrote: »

I don't think it will make a difference to the amount of time it takes for your to get your mortgage offer, that's dependant on affordability, ie the mortgage payments.
What does make a difference is how vulnerable you are to a bad survey. 95% LTV is very vulnerable, if the valuation comes back below the asking price they can't proceed without dropping the price. Anyone who is buying with 70% LTV if the survey comes back bad will be pushed up to 80% LTV etc

Ah ok I think I get what you mean. Our deposit is 20% of the asking.

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