Bit of a cheeky question for homeowners

[RachA]

We paid around £280k and I think we put down around £60-70k. We've always worked on the basis that it's best to put fine a deposit of the most you can therefore when we moved from our flat to our house we saved up as much as we possibly could for a year before we moved.

 

[Mooshoo]

Im subscribing to this as me and OH are saving up currently

 

[Bevziibubble]

We had spaghetti bolognese again.

Oops! Wrong thread!

 

[lindseymw]

We are looking to buy in the next couple of years. 2 options we have:

House price £180k
Deposit £30k
Rent current house out

2nd:
House price £250-300k
Deposit £30k + sale of current house £140kish

 

[vaniilla]

We're buying when our tenancy runs out at the end of the year - Our deposit is 40k and our budget for a house is 220k, We were originally going to borrow double that amount but we've decided to be more prudent on our first home so that the monthly payments aren't too high. DH works with mortgages so knows which deal we'll be going for

 

[Caite]

I live in a new build. It was being sold for £125,000 and I got shared equity, with the builders lending me 20%. I put down a 5% deposit of the 80%, which was £5,000. I got the same mortgage rate as someone who had put down a 25% deposit. I don't start paying interest to the builders until 5 years after buying the house, and it doesn't need paying back until 10 years after buying the house. With shared equity, unlike shared ownership, there is no rent payable to the builders. But, when I move, I have to pay back either the initial £25,000 or 20% of the sale, whichever is the greatest.

 

[Snow Owl]

We can get 10k together BUT that would only get us a 120-130 k house (with help to buy).

Houses here start at 160k