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

[VodkaCranberry2]

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?

£8,000 , 4,000 of which was money that my dgrandfather left me when he died and £2, 000 which my great aunt left me and I managed to save up the rest by working three jobs. It was over 25 years ago now and it is in a Victorian tenement ; 1 bedroom and box room flat on a beautiful street and we now rent it out.

£21k on a £195k house in 2013 (nice town in Cheshire) for a small 3 bed semi, although 3 doors down sold their house for £335k end of last year and ours has had more work done to it. House prices have gone a bit stupid in the last few years I hope theres a market correction soon, if ours is worth £340k we wouldn't have been able to afford it as first time buyers and larger houses in my town that I would consider the next rung up on the housing ladder are over £500k atm.

£25k on £246k house in 2019.
We saved it ourselves over the course of two years, standing order on payday and put it in a LISA each during that time so £4K was topped up by the government scheme.

Its made savers of us and we still do it now.

First House 10% took nearly two years of scrimping.
This one me and dp bought it outright from previous sales.

Save every penny you possibly don't need to spend until you have the deposit and fees and be prepared to be skint for another few years. Put it away and forget about it. You need a cast iron will but maybe lockdown has helped enable people to focus on actual essentials.

£85000 on a 350000 house. First time buyers. We had no savings and then got a big chunk of inheritance. House is big enough for us to live there forever and we will have it paid off by the time we are 60. Extremely lucky.

5%, or about 5k. Bought in 2008. We saved by moving into my parents box room for a year. It was so small we had to take turns standing up to get dressed. Handy though - it motivated us to save fast as it was so small.

We were young when we bought so we took out a 35 year term (still paid off before 50yo).

£3000 deposit on a house worth £86,000 but that was when you could get 97% mortgages but the interest rate was 5.6%. That was in 2001. Bought us a nice three bed semi in a good area with garage, conservatory, lovely views - in other words a nice family home. Can't believe it was so cheap compared to today's houses.

Next house - paid off the mortgage on the above house (It nearly killed us - we didn't spend anything for about four years) and cleared £161,000 when we sold it. Put all of this down on a house for £495,000. Mortgage rate is now 1.6%

Just phone a mortgage broker and tell them your details and they will tell you what you can afford to buy - or just do one of the calculators online.

First house was £6k on a £106k purchase price. Overpaid on that mortgage as much as we could and we benefitted from a slight price rise in the area.

Bought our next house 4 years later with a £35k deposit on a £220k house and because we had been overpaying on the previous house, the base payment for this mortgage was pretty much the same.

£140k on a £210k house- proceeds of house sale following divorce. I’m very happy in this house despite all the work that still needs doing. I earnt every penny of that money- Exh was complete twat & shafted me on the divorce, hiding money overseas etc.

@Floatyboat
Yes....but don't tell her! Lol.

First house was £15k deposit on purchase price £74k (this was 2001).

I was given most of it and took me a year to save the rest and other costs (stamp duty, legal).

I was 22 when offered on it, 23 at completion and just over two years out of uni earning £15k. I never wanted to rent so priority was to buy asap.

Many moves later our last move was paid using equity, £160k deposit on £320k house but I still have the first house now as a rental. That early purchase has been so brilliant for me, my friends thought I was mad but it was shrewd!

DD bought a house last year. FTB. Cheap house in cheap area just to get her on the housing ladder.
House price £95k
£5k deposit
Fees around £3k
Total cash needed £8k.
She got an interest free loan from work (graduate programme for big company), the rest was half from me and half from her savings acquired when at Uni (she worked part time and lived with her dp).
15 months on, house has increased in value and she's ready to look at moving again by the end of the year to a better area.

The deposit on a house depends on what percentage of the house will be covered by the mortgage. Commonplace these days is a 10 percent deposit or a 15 percent deposit for new builds. You also need to have money on top of that for any fees/extras/legal costs/stamp duty if it applies but your question was on deposits.

Twice my yearly wage and interest rates were 12% so the mortgage almost 3 times my rent

Oh and they've been overpaying the mortgage which has already had an impact on the equity.

I can't remember that we even paid a deposit. House was 75k in an expensive university town.

First time was £30k on a £225k flat (2012), then £90k on a £323k flat (2017). Both one bed flats in London.

The first time was with someone else and with help from family, and the second was on my own by using the equity from the first. It's so hard to get on the ladder, especially on your own.

£4250 in 2005 (5%)

About 11k 7 to 8 years ago, we scrimpt and saved every penny for a long time while both taking on as much over time as we could and eating £1 meals from Asda. Was very very hard, we did it with no help and we love our house even if it needs a lot of work but if it was today I don't know how we would manage really!

60000 on a 175000 house

27k in 2017 on a £252,000 house in the SE.

£350k 1997 (4th house) on house we bought for £850k. I had been working full time since 1983 ( bought first in 1984).I started the plan around age 14 when I decided to do law and to move hundreds of miles to London where pay was higher etc and married at 21 and took 2 weeks maternity leave so it was quite a complex set of reasons as to how it was possible to buy in 1984 including that my husband was selling a house in the North of England. The main reason I got to buy a £850k house was because of good exam results and picking high paid work and never working part time or taking maternity leaves.

20k on a very cheap small 80k house a few years ago. Both me and DH had been saving for a house since our first jobs. Both of us lived at home and paid a tiny contribution to the running of parents home. We saved very heavily though, only bought necessities and I managed to save around 7k by the time I was 19 to buy the house DH put in about 13k

10% on £187,500 house. We were prepared to go 15% but it didn’t change the mortgage that much and meant we had money to cover cleaning / small decorating on moving in

@xenia how much is your house worth now? A pretty penny I bet!