How much deposit do you need for a house that is 80,000

by , 7 Mar 2012

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Hi dbarne,

Most mortgage lenders ask for a deposit of at least 10% of the property value, which in this case would be ?8,000.

There are some lower deposit mortgages available, however they will tend to be more expensive and often will require a guarantor as well.

If you are starting to look for a property it might be a good idea to speak to an independent mortgage broker who will be able to recommend the best mortgages for your circumstances.

You can contact a qualified FSA mortgage broker in your area by entering your details on our mortgage enquiry form here:

http://www.money.co.uk/mortgages/mortgage-enquiry.htm

While the mortgage brokers here can only look at mortgages where you have a 10% deposit they will be able to let you know exactly how much you need to save before you can buy if you're a little short of this level.

by Martin from money.co.uk, 7 Mar 2012

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