All depends really, i got on the ladder about a month ago. I knocked just over 12% off asking price. As first time buyer i struggled with mortgage and that was with more than 10% deposit. Though now im finally on the ladder i went interest only to start as im totally renovating the house. However every .5% drop in interest rates im saving £48 a month so im still going to pay the same but start repayment while im still doing the house up! So atm im quite happy as interested rate are forcast to go down agian so im actually paying back on my mortgage on what i budgeted for just interest!! JAck pot so when i stop spending on house i can then pay even more of mortgage a month etc.

But trouble is Mortgage are even harder to get now being a first time buyer, i got there just in time. (even though was still a lot worse than a year ago). Just make sure you get a tracker that actually moves down when itnerest rates go down as i think the new abbey one doesnt they are coonts!!!!