how much deposit do i need for first time buyer
In the current mortgage market youâll need a deposit of at least 5% of a propertyâs value to get a mortgage. A lender would then lend you 95% of the propertyâs value. So, if you wanted to buy a Â£150,000 property you would need to save up at least Â£7,500 and borrow Â£142,500.