SIZE OF DEPOSIT v size of mortgage

Hi
I am a first time buyer, in late 30's, have been a disciplined saver with a very healthy savings balance. How much of my own money should I put against a new property purchase? Is it best to borrow as much as I can can and use borrowed money to buy the property?

Thanks
P

PARKERPAUL said:

Is it best to borrow as much as I can can and use borrowed money to buy the property?

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Don't claim to have anything more than a laymans knowledge on the subject - but the trend with the 'cost of finance' is only going to go one way. In your case, you won't be able to lock on to a tracker rate - so your looking at expensive financing.

On that basis, you need to be saving as much as you possibly can and borrowing the least possible. I've only given one reason - one other possible reason may be the circumstances that people up and down the country now find themselves in (i.e. caught by the short and curlies - up to their eyeballs in debt).