Currently, the minimum deposit stipulated stands at five percent. However, opting for a 10% or 15% deposit unlocks broader options and potentially more favorable rates and fees.

An important aspect to note is that with a five percent deposit, lenders typically impose a maximum loan amount, consequently impacting the maximum purchase price. This criteria varies among lenders, making it prudent to conduct thorough research or, preferably, engage with a specialist mortgage advisor to assess available options. This becomes particularly crucial if you have a lower deposit.