A larger deposit to reduce the Loan to Value (LTV) ratio has several advantages

Lower Interest Rates: A lower LTV generally qualifies you for lower interest rates. Lenders see a lower LTV as less risky because the loan amount is a smaller percentage of the property value.

Smaller Loan Amount: The more you put down as a deposit, the less you need to borrow. This results in lower monthly payments and less interest paid over the life of the loan.

Increased Equity: A larger deposit means you start off with more equity in your property. This can be beneficial if property values decline, as it provides a buffer against falling into negative equity (owing more than your property is worth).

More Attractive to Lenders: A lower LTV makes you a more attractive borrower to lenders, possibly giving you access to a wider range of loan products and terms.

Reduced Risk of Loan Denial: With a lower LTV, the loan is less risky for lenders, reducing the chances of loan denial.
Flexibility in Refinancing: In the future, having a lower LTV can give you more options and better rates if you choose to refinance your mortgage.

In summary, a larger deposit reduces the LTV ratio, which in turn lowers the risk for the lender, potentially leading to better loan terms for the borrower.

Your home may be repossessed if you do not keep up repayments on your mortgage