Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

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!

Interested in this thread?

Then you might like threads about this subject:

General money
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.