Deposit for mortgage enquiry?

Just a quick question.

My mum is selling her house (worth £120k) to me and my partner for £50k (whats left of her mortgage) and is essentially gifting us the equity left in the house. With the reduced price and equity would we need a deposit to secure a mortgage of £70k (50k for house, 20k for improvements).

We're both full time teacher on 22,000pa before tax with good and excellent credit ratings.

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