At what stage does Mortgage deposit makes a difference.

rakesh5883

When does a mortgage deposit makes a really big difference in terms of mortgage Rates.

20% or 25% ?

betmunch

A really big difference is from 5% to 10%.

After that its every 5% until you have 40% and each step is a little less than the previous one

Lolly88

Why don't you play around on different online mortgage repayment/affordability calculators to get an idea of how much difference different deposits will make.

bradelyjacc

mortgage deposit will make a real difference to the best mortgage deal you can find. Minimum mortgage stages is 5% for a property value to get a mortgage. A lender would then lend you 95% of the property’s value.

Filo25

betmunch wrote: »

A really big difference is from 5% to 10%.

After that its every 5% until you have 40% and each step is a little less than the previous one

Yes my first mortgage offer was a 5 year fix at 90LTV which I think came in at 3.49%, second one was a five year fix at 85 LTV (cheaper property, and rearranging finances a bit) which came in at 2.94%.

GwylimT

The difference between having a 10% deposit and 11% can also be quite significant.