How much deposit do I need for a mortgage in Telford?
When seeking a mortgage in Telford, most lenders will request a minimum deposit of 5% of the property’s value. However, if your credit score is lower, you may be required to provide a larger deposit of 10% to 15% of the property’s cost. This is because mortgage lenders often scrutinize your credit history to ensure that they’re lending to a trustworthy borrower.
Missed payments or unsecured debts are typically viewed as possible concerns for mortgage lenders.
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