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What is considered a "good" deposit
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We curently have £30k saved which would be a 20% deposit on the cheapest houses around here that are £140k at the moment.
But we have no chance of getting a £110k mortgage on an income of £20k pa, so we are going to save a further £10k a year for at least the next 2 years and also hoping the prices will have fallen a bit more by then.0 -
In order to get a good mortgage a good deposit is 25%+.
To get a decent mtg a decent deposit is 20%+.
To get ANY any mtg a deposit of 10%+ is essential!In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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