Put simply, the more deposit you have, the better, as a higher deposit will generally attract a lower mortgage rate. But, because mortgage products change all the time, do give us a call, as the percentage deposit you need will vary.

Mortgage lenders will have a maximum LTV (loan to value) that they’re prepared to offer you. For example, if you’re looking at a property with a value of £250,000 and the lender offers you £212,500, this means your LTV is 85%, so your deposit would be £37,500 which equates to 15%.

Ready To Get Started?

Arrange A Free No-obligation Consultation With Expert Mortgage or Equity Release Advisors at Steeples Mortgages in West Yorkshire.

Rated 5/5 Stars
from 40+ Reviews

Fill out this field
Please enter a valid email address.
Fill out this field
Fill out this field
You need to agree with the terms to proceed