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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To ask you how much your deposit was for your house?

106 replies

VodkaCranberry2 · 27/05/2020 00:10

Dreaming of one day being able to buy a house, browsing Rightmove looking at all the lovely places. So I was just wondering - how much of a deposit did you pay on your house and how much was the house in total? How long did it take you to save up? Any tips on saving?

OP posts:

Riverviews · 27/05/2020 07:41

My first ever flat I put down 20%. My parents gave me the money. It was 1998 and the cost of the flat was 56K

molifly14 · 27/05/2020 07:42

This thread is making me feel sick 🤢 I'll never be able to do that

cobblers123 · 27/05/2020 07:43

£450 on a £10,450 house. This was 1977 though.

Dinoctoblock · 27/05/2020 07:43

100% mortgage in 2003, so no deposit.

Sold that flat with £60k profit and put it all on a deposit for a £250,000 house in 2011.

I consider myself very lucky to have gotten an 100% mortgage.

coronabeer23 · 27/05/2020 07:45

I put £6500 on a flat for £65k in 1997. It was money left to me by a grandparent.

our current house we put £250k on a purchese price of £450k in 2007. We have done a lot of work on it and took extra on the mortgage to pay for it but it's worth about £1.2m now

MissBax · 27/05/2020 07:46

We were in the very fortunate position to have inherited some money and in laws helped too so we had around £50k for a deposit on a £230k house. Without that we would have probably had around £10k. We were very lucky.

Beagled · 27/05/2020 07:46

£11k (5%) on a 220k house. We were renters though and the mortgage was the same price as the rent, seemed daft to try and double the deposit whilst paying rent.

BasalGanglia · 27/05/2020 07:46

10k deposit with 40k help to buy loan on a £200k 4 bed detached new build in the North West 3 years ago.

We'll pay back half of the help to buy loan in 2 years and remortgage to pay off the rest.

My DH saved 20k before he met me so we had some savings spare.

SanFrancisco49er · 27/05/2020 07:48

We are waiting to buy currently, we have £110k deposit, looking at houses £300k to £330k.
Each had help getting onto property ladder from parents and thus each owned flats in London when we met. I paid my parents back their investment, plus interest. Deposit is from equity made and we have moved away from London. We'll stay where we are for a few years, buy here and sell again once prices rise.
I'm planning on property providing for some of our pension. My parents mistakenly sold a house in 2000 for about £350k its now worth £1m. Their current house is bigger and nicer but more rural so not worth as much - although they own outright now.

WhatsHappeningCaroleBaskin · 27/05/2020 07:49

14k, which was 20% for the first house, 16% which was 10% for the house we're in now

meow1989 · 27/05/2020 07:50

11k which was 5% in 2014. We used help to buy, then when the 5 years were up remortgaged to cover to 20% government loan.

SimonJT · 27/05/2020 07:51

£180k on a £680k flat so around a 25% deposit. I originally wanted to put down a 20% deposit and keep a little more money back but going to 25% made a big difference to my mortgage rate.

suggsy · 27/05/2020 07:56

40k on £160k house I bought by myself in 2015
140k on 500k bought with my partner in 2019.

First house was savings and living with my parents for 6 months and spending nothing (extremely lucky to do this)

Second house my partner had a deposit of £40k, I had my 40k original deposit and my house had gone up by 60k since purchasing (train station was planned nearby making it a more commutable location)

CharDeeMacDennis · 27/05/2020 08:07

£60,000 on £128,000 house. Needed a large deposit as we only have one salary and it's far from huge.

Partly help from my family, partly inheritance DH got.

sanityisamyth · 27/05/2020 08:09

£0. We had a 100% mortgage in 2006. I've now got £30k for my next deposit in my solicitors bank account - was part of my divorce settlement.

blibblibs · 27/05/2020 08:10

We have spent the last two half years saving and have 17K but that's still not enough. Not great when you are already mid 40's. The housing market is just depressing.

Poetryinaction · 27/05/2020 08:11

On my first house it was £27k.
Unhelpful to you I think. My husband's parents gifted us £20k so I only had to find £7k which I had in savings. We used my dh savings to do it up. Sold for a lot more 6 years later so were able put down a deposit of £126k on a bigger house.
I will be eternally grateful to my inlaws.

Chanel05 · 27/05/2020 08:14

£50k on a £300k house in 2016.

User202004 · 27/05/2020 08:15

5% a few years ago, it was the right move as within 2 years we had essentially a 15% deposit with gains and with interest rates so low rate mortgage was absolutely fine, we remortgaged 2 years later with a 85% LTV rate. The issue was we bought somewhere too small and need to move again, moving is so expensive, so I'd put a 5% deposit down again but I would ensure it was a longer term house. Although there are very few on the market atm and would be a risk this year.

WomanIsTaken · 27/05/2020 08:18

45k for a £150,000 house in 2006. Small ex-council house on sink estate in suburb of large city.
We lived in a crummy bedsit for 2 years, worked two jobs each and saved one salary plus whatever else we could afford each month. It didn't feel like too much of a sacrifice because we were young, with no kids, and had just spent a year on a shoestring in Asia on 2k each.
We kept up the two jobs each for another 6 years until we had kids to overpay and build up some savings.
Seems impossible to do these days with house prices being so high. My heart sinks as I wonder what the he'll the DC are going to do for housing. We haven't made a move 'up' to a more expensive property, as, since having DC we have both dropped to 4-day weeks to prioritise family time (which is a big luxury, I know). We're in public sector jobs where salaries have remained pretty much frozen in teal terms, so don't earn much more now than 15 years ago. Our lifestyle is the subject of much mirth among some relatives, as we've never really renovated or updated the interior of our house, and still drive really old cars.

adriennewillfly · 27/05/2020 08:22

85k on 560k House. DH worked his arse off to save up for it.

Idontknow23 · 27/05/2020 08:24

I know the Op asked for deposits and house prices but seeing as she is wondering about saving for a deposit herself how is it relevant for 'Margaret' to say she had a £50 deposit on a house that cost £10,000 back in 1946, we all know house prices have changed and deposits are really hard to save for now and you need so much more so taking in the factor of trying to save with high rent so it's really annoying to read people's comments that are not relevant to the current climate it doesn't help one bit!!

R2519 · 27/05/2020 08:25

1st place.....20k deposit, for 185k flat
2nd place....100k for a 500k house with my now wife
3rd place....my wife....600k for £1.1million house
(That was due to saving, good jobs and an inheritance)

Floatyboat · 27/05/2020 08:29

@r2519

You put your wife down as deposit?

Atalune · 27/05/2020 08:30

£14k in 2007 for house at £150k
£50K in 2017 for house at £340k

Money is partly from inheritances, and mostly from saving whilst renting and before having children for the first £14k. We didn’t have a big /flash wedding (less than 4K with 200 guests!) so we could save more.

We bought our first house at the peak of the bubble so massively overpaid for it. Regret that but we were very wet behind the ears.

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