Hello all
I am just looking at buying my first property and have recently approached Contractor Mortgages Made Easy and Freelancer Financials to see if I would be able to get a mortgage with my current rate and 10% down payment.
I was surprised when Freelancer Financial guy told me to go with 5% down payment as the rate is anyway 'almost the same'. Why would he say that? From what I understand, the bigger the deposit, the better the conditions of borrowing? To be honest, I was considering of saving to 15% if I can (haven't mentioned this to the broker though).
Anyway, I am still in research phase, not rushing into anything. Just curious about your views about mortgage brokers.
I am just looking at buying my first property and have recently approached Contractor Mortgages Made Easy and Freelancer Financials to see if I would be able to get a mortgage with my current rate and 10% down payment.
I was surprised when Freelancer Financial guy told me to go with 5% down payment as the rate is anyway 'almost the same'. Why would he say that? From what I understand, the bigger the deposit, the better the conditions of borrowing? To be honest, I was considering of saving to 15% if I can (haven't mentioned this to the broker though).
Anyway, I am still in research phase, not rushing into anything. Just curious about your views about mortgage brokers.
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