What property can I buy? This is what type of house you can afford based on ...

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Buying a property in the UK is a lengthy legal business.

For the vast majority of those who cannot afford to buy outright, there is a mortgage.

This means a lender, often a bank, loans the majority of the value of a property to the buyer.

However, most save up a deposit to help them make this purchase.

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Property news: Mortgage calculator - what can I buy with my deposit?

Your deposit is not the only factor that affects the value of the property you can buy.

How much you earn is also an important factor.

However, it is the case currently that lenders require buyers have a deposit that is at least five per cent of the value of your chosen property.

Of course, putting down a higher deposit means you borrow less and is possible.

However, if you were planning to put down the minimum deposit this is what you could potentially borrow.

What can you buy with your deposit?

£5,000 deposit = £100,000 property value

£7,500 deposit = £150,000 property value

£10,000 deposit = £200,000 property value

£15,000 deposit = £300,000 property value

£20,000 deposit = £400,000 property value

£25,000 deposit = £500,000 property value

£30,000 deposit = £600,000 property value

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