You can get a mortgage for as little as 5% deposit, but that doesn’t mean it’s the figure you should stop saving at – the more deposit you can put forward, the better deal you are going and the faster everything is going to be. It’s an easy to understand sliding scale, with 5% at the bottom and 40% to 50% at the top.
Saving is hard, but there are things to help – a Help to Buy ISA (register now as time is limited!) will bump up your savings if you are a first-time buyer, as will a Lifetime ISA for everyone else! Plus, for first time buyers, why not take advantage of a Help to Buy Equity Loan if you’re interested in a new build property?
Beg, borrow and steal to get a good deposit – it makes all the difference.*
*- don’t borrow actually, as having a loan you have to pay back isn’t going to help, and definitely don’t steal. Begging is fine!
