What was your deposit on your house?

megaginge

I put down 5% on 240k.

I wanted to get on the ladder ASAP as I could save far slower than property values were increasing.

24 months later I now have 25% equity in a 310k property.

So, I was right.

If you can get on the ladder and are absolutely sure you can afford repayments now and at the SVR (your property may not increase in value, remember) when the initial term ends - and are also throwing away money renting right now every month - then if you ask me, just go for it.

Do remember how much you'll need for fees and other expenses as part of buying a property as well, though...

cjm888

First house I think was 40%

House going through now will be 49%

Big deposit for me means great mortgage rate, although i was stupid to take out a 5 year fix at 3.89 and a 3% ERC i have to pay. I have learnt my lesson this time and going for 2 year fixed at 1.43%

freesha

15k on a house price of £117k. That was 10 years ago, our first house, and we're still here. 10 years down 20 to go!!

cloo

First property, put down £70k deposit (share from sale of inherited property), about 60% of value, in 2001


Next place, 2007, also about £70k (share from sale of different inherited property!), this time about 22% of value. Still owned the first place.


This time, rolled sale of both properties to buy a house, so put down about 62% of total value, and oddly enough borrowed almost exactly the same amount as we did for the flat we owned before.

breaking_free

Put down a little over £58,000 on a £250,000 place just last year (so LTV of 76%).

I was going to put down £50,000 and keep a few thousand back for renovations but then the building society decided not to go with their Accepted in Principle figure. They gave me £191,000, instead of the £200,000 they'd previously offered. I had to call on the bank of mum and dad to give me a hand (and I was 43 at the time - oh the shame!)

Got a decent 5 year fix at 2.74% so I'm happy with that.

Waterlily24

£600 on a £5,900 house in 1968.

benjus

phill99 wrote: »

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!!

My first place was bought with one of the notorious Northern Rock 125% mortgages.

It worked out well for me though - I used the extra 25% to pay for some pretty big renovations to the property and after 2 years remortgaged at 75% LTV to a base rate tracker, which then plummeted to about 1% as the BoE rate dropped. Of course, a lot of that was pure luck.

cyantist

We put down exactly 30% (£136,500) to ensure we got a better LTV rate. If we'd have put slightly less deposit down the interest rate would have been a lot higher, and I didn't see the point in putting more than 30% down as I'd rather keep the extra for any possible renovations or work the house needed. I figured if I had money left afterwards, I could always pay extra off the mortgage at a later date.

Mr_Potato

380k deposit, so LTV 23% on our first home. We were very lucky to have inheritance and some gifted money, and could buy our forever family home.

oligopoly

Current House
Bought 4 years ago for £160k with £28k deposit. Just sold for £253k!

New House
Buying for £353k with £111k deposit