It’s therefore important to check your current credit rating with one of the main credit agencies to see how you will look to a potential lender.
5% deposit options are popular among first-time home-buyers that are cash-strapped or find it difficult to save a deposit of 10% or more, especially considering the soaring house prices in recent years.
One of the most important things to bear in mind as a first-time home buyer is whether you can afford to take this step.
Mortgages Huddersfield
If you’re looking to purchase your first home, you might feel that your deposit is a bit too small to get started.
These are mortgage arrangements where you put down a small deposit of just 5% of the total property value to secure a mortgage.
Interest rates for these mortgages tend to be considerably higher compared to mortgages with bigger deposits.
These may include: Conveyancer or solicitor fees, including extra costs like search and Land Registry fees.