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Original poster

How much of a house deposit did you put down?

80 replies

TheShiteRunner · 23/01/2019 12:53

I am just getting to the point where I may, at some point, be able to buy a house. I have been saving for ages, and will see a mortgage broker soon.
But because I'm nosy- what was your deposit, and what was the worth of your house? And roughly, what's your income?
(I am self employed so am a bit worried that it'll be hard for me to get a mortgage...)

OP posts:
Glitteryfrog · 23/01/2019 19:40

First house 5%
We're going to move this year and put down about 25% (mostly equity)

KanielOutis · 23/01/2019 19:44

I put down £3000, which was 3% of a £100k flat. The bank asked if I was sure we wanted to put down so much (100% mortgages were still available). This was in 2008.

MeYouWye · 23/01/2019 19:45

Second time byers, 60% deposit. We didn't want to over extend ourselves as only based on husbands income (I'm a sahm). Good luck!

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IMissGin · 23/01/2019 19:48

£53k (10%) first time buyers, £27k LBTTtoo - that hurt a lot!

Heatherjayne1972 · 23/01/2019 19:50

£14k on first house Bought before house prices rose at end of the 90’s
Sold it for a big profit so next house we put £95k down - bought house for around £240k in 2011

Original poster
TheShiteRunner · 23/01/2019 19:53

Thank you for sharing these! It makes me a lot more hopeful than I have been. It's weird but because I'm renting, I have no real clue about mortgages, so this really helps.

OP posts:
xyzandabc · 23/01/2019 19:59

1st house 25k 14%, joint income 35k
2nd house 95k 34% joint income 50k
3rd house 380k 53% joint income 85k

We've been very fortunate in that our salaries have increased as have house prices where we live. House 1 we pretty much sold for what we bought it for but house 2 we sold for a lot more than we paid for it having only been in it 8 years.

Surfingtheweb · 23/01/2019 20:02

Have you looked at the Help To Buy schemes? You can borrow 20% of the house value interest free for 5 years. When you pay it back you pay 20% of the house value, so it could go up or down. You can pay interest after 5 years on the loan or remortgage & buy the help to buy out, Yorkshire building society have a variety of mortgages to do this. It's only available on new builds though. Don't forget you may need to pay stamp duty too & all the legal fees. Also when looking for a broker use one that doesn't charge, they are paid by the mortgage company so have no real need to charge you for their services.

BifsWif · 23/01/2019 20:04

10%.

Use a broker. The higher the deposit you have the better chance you have of obtaining a mortgage, even if your circumstances are different to the norm.

AndNoneForGretchenWieners · 23/01/2019 20:05

£150 - we got a 100% repayment mortgage and just had to pay an admin fee. This was 18 years ago though. Paid £42k for the house, currently worth £110k. We have 7 years left to pay.

Ellapaella · 23/01/2019 20:33

We put down £30K on a £270k house. That was 7 years ago.

sdaisy26 · 23/01/2019 20:45

First house - 25% or thereabouts (just over 40k)

Second house - 35% (140k).

whenthewhistleblows · 23/01/2019 21:10

30% - bank wouldn’t loan me more than 70%. My mortgage is about a third of my monthly income, but bank have calculated as being more like 40% as they wouldn’t take into account the child maintenance I get from ex. Mortgage was over 21 years rather than 25.

whenthewhistleblows · 23/01/2019 21:12

Yes, if you’re circumstances are a-typical go through a broker. Mine were ‘normal’ so didn’t bother (I investigated a few but found better deals myself).

BeautifulPossibilities · 23/01/2019 21:31

First time round about 5k, was on a shared ownership scheme so only has had to put down a small deposit.

Second time found 30k Confused

itssquidstella · 23/01/2019 21:34

£50k, 10% in London 😖

userxx · 23/01/2019 21:44

£50k on £135k house 10 years ago.

userxx · 23/01/2019 21:45

£50k on £135k house.

ineedtostopbeingsolazy · 23/01/2019 22:14

1st house was 5% we were first time buyers, we got a loan for the deposit!
2nd house works out as 24%

Nacreous · 23/01/2019 22:19

18k deposit, house 120k (15%) and income was £24k at the time (gross).

MonsterKidz · 23/01/2019 22:23

First house was 15% and 36k.

We borrowed 18k each from our parents and are just about to end the repayments back 10 years later.

AwkwardPaws27 · 23/01/2019 23:44

Our first flat we had a 93% mortgage, with a £9k deposit (& a higher than average interest rate because of the LTV).
After 2 years the value had increased and we were able to remortgage and halve the interest rate, saving £240 a month.
Flat prices were on the rise in our area due to Crossrail, so we were better off paying the high interest rate for 2 years than waiting and saving for a better LTV.

AwkwardPaws27 · 23/01/2019 23:45

*94% - oops!

ssd · 23/01/2019 23:47

First flat was bought on a 100% mortgage, with no deposit back in 1992. I feel awful for buyers now, it's so bloody unfair

HappyEverIftar · 24/01/2019 04:53

Our first (only!) house, we put down £100k which was 45% of the cost of the house. We are expats and had to use a broker. Our interest rate was slightly higher than average and started as a 15 year mortgage, but the best they could find for us.