2 ms·
The mortgage market must work differently in your country. Where I live, deposit size relative to property value absolutely increases your buying power, they do
by solumunus 3y ago
The mortgage market must work differently in your country. Where I live, deposit size relative to property value absolutely increases your buying power, they don’t just look at income and outgoings.
- ffgjgf1 3y agoWhat’s the difference? If housing prices all go up at the same pace you’re still pretty much were you started. Yes you can afford an X% higher deposit but prices have also increased by X%.
- solumunus 3y agoHouse prices might increase by 20% but your new deposit compared to the deposit for the initial house you bought could easily go up 100-200% (or more). Your equity has grown disproportionately to house values. That’s the massive difference and what allows people to “climb the ladder”.