Really basic question here, but I had a 'financial health check' with a rep from my bank yesterde, and I asked him if I still needed 10% as deposit if I had my parents' property (almost full equity) as security/guarantors.
He said I needed 20% deposit to avoid insurance, and he made it sound like that with 10% I wasn't going to have much hope in getting a loan. He also said having my parents' property as security didn't make any difference.
So I just wanted to know, is he right?? All along I've been trying to save 10% as a deposit, so if it's going to be 20%, then this...well, pretty much doubles the timeframe I had in mind