How much deposit do I need for a mortgage in Solihull?
If you are looking to put down a deposit for a mortgage in Solihull, most lenders will require you to put down a minimum deposit of 5% based on the property value.
Depending on your credit score, you may be asked to provide a larger deposit of 10% to 15% of the property price. This may be due to mortgage lenders looking at your credit history, as they need to ensure that they are lending to a reliable borrower.
Typically, missed payments or unsecured debts are considered potential red flags for mortgage lenders.
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