What is the lowest deposit to put down?

[Mumofoneandanotherontheway]

Realistically on a 300k property what is the lowest deposit that can be put down?
Also what other fees are to be paid?
It would be our first home, on 1 income of £19k salary
Is this even achievable?
Tia x

Just looking again at your posts - if you've saved £20k then you'll be ineligible for Universal Credit. Did you realise that?

This must be a troll. You have £20k saved, but are on universal credit and are asking if you can borrow £300k on a £19k salary????

Mysalary is a lot higher though. You might need to borrow less. There are good calculators online that you can play with.

Yes I have 20k saved. 5 in our account & the rest I’ve been saving since we got married 8yrs ago! However it may sound i don’t want to put it in accounts & declare it otherwise we have no chance in buying for the future! We’re lucky enough to have family who give us & kids cash for birthdays/anniversaries. Also have just cut down on spending, only essentials just to save.

Ok, well, that is fraud. It sounds like you're in full knowledge that you're committing fraud, though, so no point discussing it.

@Mumofoneandanotherontheway

Yes I have 20k saved. 5 in our account & the rest I’ve been saving since we got married 8yrs ago! However it may sound i don’t want to put it in accounts & declare it otherwise we have no chance in buying for the future! We’re lucky enough to have family who give us & kids cash for birthdays/anniversaries. Also have just cut down on spending, only essentials just to save.

Wow.

www.gov.uk/universal-credit/eligibility

20k savings makes you not eligible for universal credit if you're on that. Tax credits was fine unless you earned interest.

OP you're committing Benefit Fraud. You're not entitled to be claiming UC with those savings!

I've just bought a £300k house. I had to put down 15% minimum so I've put down £44k.

As others have said, you're committing fraud. Also, when you come to put that money down as your deposit, you'll be looked at under POCA

If you apply for a mortgage they will want to see exactly where that deposit money has come from.

Check what your local shared ownership scheme rules are. Some have priority lists and minimum income requirements.

It isn’t however it may sound at all.
You are committing benefit fraud,and when they catch up with you which is more and more likely now systems are intergrating you will not only have to pay the whole payment back but financial penalties as well.

These houses are far far above your affordability unless you have other sources of income and deposit. Is your rent very high at the present time. Assuming you are renting.

You cant afford it. Not going to write a long message when 4 words will suffice.

Is 15k under a mattress somewhere?

You need to be more realistic op.

For example our income is 57k, our house is 150k and we had 15k deposit.

What will you say to the bank when you are asked where your deposit came from? We had to provide statements for the bank account the deposit was in for the last 6 months showing it in there. It's a lot of money, you'll be asked to prove it yours and how you have it.
You can't simultaneously say it's yours that you have saved while commiting benefit fraud.

We had to provide statements for the bank account the deposit was in for the last 6 months showing it in there.

Yes to this!
A mortgage application is a complicated and long process, everything will be scrutinised, from spending to savings.

For context, my stepfather got made redundant recently, he got £10,000. He had to declare it and put a new claim for Universal credit. He receives around 320 a month due to this.

I can’t believe you think you can have so much savings and not declare it! Benefits are a lifeline not a lifestyle.

They aren't going to lend you 15 times your income! You aren't in a position to buy a $300k house at the minute. And as others have said,you're also committing fraud.