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What Size Deposit Will I Need?
The deposit you'll need varies from lender to lender. Since the 'credit crunch' began, some lenders have increased the deposit required, so it's best to speak to your mortgage advisor to find out what deposit you'd require based on your specific circumstances.
First Time Buyers:
- 92% Mortgages / 8% Deposit (lowest deposit available - other lenders will require a 20% deposit or more)
Owner Occupiers:
- 92% Mortgage / 8% Deposit (lowest deposit available - other lenders will require a 20% deposit or more)
Refinancing:
- 80% Mortgage / 20% Equity (some lenders will only consider applications with a lower LTV)
- Some lenders will not refinance at all; others will not refinance if short term debt is being paid off.
- Please speak to a consultant to discuss your circumstances.
Buy to Let
- Maximum 75% / 25% Deposit (although in most cases, you'll need a bigger deposit)
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