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How much of a deposit do I need?

In general, the larger the deposit (as a percentage of the property purchase price), the better mortgage deals you will be able to access. 

The rate of interest you pay on the amount of money you borrow and the size of the deposit are primary to the type mortgage deal you'll be able to obtain.

By putting down a large deposit initially you will own more of the property outright from the outset of the mortgage deal.

Lenders will view you as a lower-risk customer this way as it is less likely the amount of money you borrow will outweigh the value of your home.

To obtain a good mortgage deal it's widely viewed that a deposit of 25% of the homes value is needed.

If you are in a position to put down more than that then you will find yourself being offered some of the best deals on the market.

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