Mortgage mayhem, energy fixes, car insurance & Tesco tips
The Martin Lewis Podcast
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Minimum Deposit for Best Mortgage Rate
Learn the minimum deposit needed for a mortgage. The answer is $0 for a skipped and building society mortgage. However, to get the best rates, a 40% deposit is recommended. The less you borrow, the better. Every 5-10% increase in deposit, up to 40%, improves your mortgage rate. At 90% LTV, you can choose between a two or five-year fix, whereas at 75%, there are better deals.
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