What's the average First-time buyer deposit by region in 2023? 💳
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Latest report from Zoopla shows that First-time buyers are having to find significant funds to get on the property ladder...
Key findings:
🔸 To buy a home in the UK, First-time buyers (FTBs) are saving on average £34,500 (based on a £240,000 home with a 15% deposit) 💰
🔸 Actually, most FTBs aim to put down a larger deposit, amounting to 24% of the total property price 💰💰
🔸 Why? Because a bigger deposit opens up better mortgage rates from lenders 📉
🔸 So, a 24% deposit on a £240,000 property = £57,600! 💰💰💰
🔸 For FTBs without this level of deposit, there are currently 95% and 100% mortgages available 🏠
For the full article from Zoopla, click here.
Are you a First-time buyer looking to get on the property ladder? We can put you in touch with the right mortgage advisors, please contact sam.barker@cavendishproperty.co.uk for more information 📧
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