I am officially confused. I have a fixed rate mortgage at the moment which was initially fixed for 2 years,what with all the interest rate drama going on at the moment i have been looking at my options when the 2 year tie in expires. With most companies now they are requiring a large deposit, this is where the confusion come in.

My house at the moment is worth 150,000 and we have a mortgage of 125,000. (83% LTV) When i come to take out a new mortage/switch lenders will i need to find ANOTHER deposit or will the equity in the house act as that deposit?

Hope this makes sense as its really confusing me!!

Thanks.