The minimum deposit required is 5%, but it’s important to note that the lower the deposit in percentage terms, the higher the interest rate will be and the stricter the lender’s credit scoring process will be. The interest rates will improve and the credit scoring process will relax the bigger the deposit you put down (generally in increments of 5%).

It’s possible to get a mortgage now without physically putting down a deposit, several lenders currently offer ‘family assist’ products where a family member (more often than not a parent) can use their savings or equity as ‘linked collateral’ which acts as an interim deposit until such a time (normally 3-5 years) that you have built up enough equity in your property to move on to a ‘standard’ mortgage product.