I've done a lot of research on mortgages recently. HSBC (who do not offer any mortgages through a broker) still have some relatively competitive products (for example, a 1% LT BoE tracker) and just offered me a 4.6x salary mortgage with 80% LTV. If you're looking to move up the ladder, I think it's worth looking and putting in some 'silly' offers. > 10% down on a ?250k flat = -?25k > 10% down on a ?500 house = -?50k >> So, you're up ?25k net. But your risk exposure is higher. Personally, I'm still waiting for the crest of the slump although I think houses on my street are already down ~15% from last year. East Dulwich prices shot up a lot more that other areas in London over the past few years, so we have to expect a bigger fall too.