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What was your deposit on your house?
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wideboy09
Posts: 108 Forumite
I am not quite at the stage of buying my first home but getting there, I like the idea of having a small mortgage by putting down a big deposit
Just curious what other buyers put down as a deposit and roughly what % was that of your home value?
Also for those who put down a big deposit, are you happy with that decision?
Just curious what other buyers put down as a deposit and roughly what % was that of your home value?
Also for those who put down a big deposit, are you happy with that decision?
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Comments
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£194K deposit which was 64% of the house price.
Am I happy with putting down a big deposit? Yes.0 -
I put down zero. That was in the days when you could still get 100% mortgages. And in certain instances they were offering 110% mortgages!! Ah....those were the days!!Eat vegetables and fear no creditors, rather than eat duck and hide.0
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Exactly 2 and a half years ago we put down a 10% deposit of £25k. Now the equity is almost 45%. Still a large mortgage to pay :eek:SPC 08 - #452 - £415
SPC 09 - #452 - £2980 -
Why?
Just curious what other buyers put down as a deposit and roughly what % was that of your home value?
Also for those who put down a big deposit, are you happy with that decision?
It is a purely personal decision and depends on
* you overall income level
* your spending habits
* your attitude to credit
* your other commitments
etc
What other people decided to do, and whether they regreted their decisions, is irrelevant to you.0 -
I would not base my own finances on a few answers here but I am curious and it is interesting conversation for me0
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Ah!I would not base my own finances on a few answers here but I am curious and it is interesting conversation for me
Then you really need to post here:
http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=570 -
£275
Which was 10% of the purchase price and took an eternity to save up on a wage of £19 pw before tax.
Long time ago now though.
:beer:0 -
Hehe - doubt that would pay for the conveyancing on many properties these days
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We put down about £8.5k on a £100k house in 2004. This time we are putting down a £40k deposit on a £212k house. If we ever complete, that is...0
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Put down a 50K deposit on a 250K purchase.
That was a real stretch though and involved me cashing in pretty much every saving and investment I had. We could have put down less but 50K on the LTV ratio meant we got a much better interest rate so although it hurt us in the short term it means we'll pay a LOT less interest.0
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