How much deposit will I need to put down?

Most mortgages require a deposit - usually for at least 5% - 10% of the property's purchase price. Obviously, the bigger the deposit you can put down, the better your mortgage terms will be because you will not be borrowing as much and your lender has more security. This might mean better interest rates, although that will depend on your credit history. The bonus is that with a sizeable deposit you will have less capital and interest to pay back.

If you do not have any savings for a deposit, you can apply for a 100% mortgage. 100% mortgages are quite widely available, but you will have to pay higher interest rates, and you may need to provide a Guarantor to support your application.