Bit of a cheeky question for homeowners

[TwilightAgain]

How much was your house and how much deposit did you/were expected to put down?

My OH and I are getting to that point where we're thinking buying a house in the next few years but to be honest I know nothing

 

[smallpeanut]

195k and we had about 18k deposit including solicitors fees x

 

[catty]

Cost £117,000 and we put down £12,000 - I work at solicitors so got my fees for free but had £500 of other charges x

 

[Eleanor ace]

Our mortgage advisor told us to put a minimum 10% deposit down, we were able to put down 40% and the mortgage rate got a fair bit better. I think generally the bigger the deposit the better the mortgage repayments are. We didn't end up getting a mortgage so our solicitors fees were lower, as was the cost of the house survey. We paid almost 10k in stamp duty which I hadn't even heard of before buying a house, that was a bit brutal!

 

[LoveCakes]

£122 and we had to put on a 15% deposit as I was on a 2 year contract at work. This was in late 2009.

In the uk I think they use 3.5 times your joint salary. Maybe call into a mortgage advisor to see what your options are.

 

[AllyTiel]

Our house cost $121,000 and we put about $4000 down. Our mortgage was recently refinanced and we went down to a 20 year mortgage instead of 30. Our monthly payment is $920 I believe. Cheaper than an apt not near nice as this house. That helps us put more towards actually paying off the house so getting more equity. We plan to sell in 3 years. We just got it appraised and after some minor updates, repainting, putting up crown molding, scraping off the popcorn ceilings, the current appraisal is about $150k. We plan on selling it around that price. It was a foreclosure when we purchased it.

 

[Mummy May]

They have changed the way they give out mortgages now - the arseholes! We were looking in March and they were potentially going to lend us 136k, we then actually applied but left it until April and the 1 place we applied with offered us the full amount but wanted a 35% deposit.

They now go on affordability - so basically what you have spare. We now can't buy a house. Because for some reason they were taking rent and rates into account even though they would carry to a new home anyway.

Back to the question though, minimum is usually 10% - we have 15k but thats to include fees xx

 

[Bex84]

£147,000 this was 2009 and we paid 15% deposit

 

[lola_90]

House was £279k and we put down 20% deposit

 

[weewdy]

£90000 in 2006 with a 3% deposit.

 

[Rachel_C]

We put down 10% which is pretty standard I think.

 

[binxyboo]

The house was £300k and we had a £55k deposit

 

[Lucy_2010]

The house was 133k and we had a 20% deposit, that was last year

 

[HazzaB]

Ours cost £227,500 and we put down £80,000.

 

[maryp0ppins]

We are just waiting to exchange on our flat (first one eekk!)
We are buying it for £275 000 and have put down 75k deposit. This was only possible because of an inheritance we got from my oh's grandparents.
As someone said above they have now changed the way they give out mortgages so it might be completely different! I think they recommend 10%. Nationwide have a save to buy acct where you save each month for a min of 6 months and they offer a mortgage with 5% deposit. They lower % of deposit you have the the higher the interest rate is.

 

[alicecooper]

Ours was £105,000 (in 2010) and we bought it outright but I think the minimum would have been 10%.

 

[sparkle_1979]

Ours was £260 and we put down £150

 

[Sambatiki]

We've got a shared ownership house. Its worth £195 and we own 60% £114. We managed to get a 5% mortgage from Leeds Building Society. It's quite good because you can pay 1% extra per year without any penalties.

Good Luck!!

 

[shellideaks]

My house cost £79,000 and we put a 10% deposit down.

 

[kwood]

Ours was 330K and we had a 25% deposit. We had a really hard time getting a mortgage because I was 20 weeks pregnant and most of the companies were using a multiplier of 3 for childcare and our childcare is 820 a month so they were taking it at 2400 a month which is just plain stupid but that is the way a lot of providers think. So if you have any debt i.e. car payments, loans etc. they don't tend to take them at face value. Thing is even with our childcare so high we never have any problem paying all of our bills each month and still have enough left over to add to our decent size savings.