Saving a deposit

Saving a deposit is often cited as the biggest obstacle to getting on the property ladder.

The average UK first-time buyer home costs around £150,000, and the typical deposit paid in 2014 was 20%, or £28,000.

Little wonder that the average age of first-time buyers has risen to over 30, or that so many people need family help to purchase their first home.

Some mortgages are available with a 5% or 10% deposit, but they are hard to access and the interest rates charged are higher. To secure the most competitive interest rates, a deposit of 40% is required.

Tips on saving a deposit.


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house price

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First-time buyers face 13-year deposit wait

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first-time buyer

HSBC focuses on first-time buyers

HSBC has launched a new range of 90% loan-to-value mortgages expected to appeal particularly to first-time buyers.

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If you have a question about mortgages or homebuying, why not ask Editor in Chief Paula John?

Paula is CeMap qualified.

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Houses of Parliament
Guide to Government schemes

There are a number of Government schemes in place to help first-time buyers, key workers and other lower earners onto the property ladder.

Guide to moving home

Before you start looking for a specific property, it makes sense to choose a defined area and check it out.

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Widely regarded as the UK's definitive consumer mortgage awards, for 22 years the Your Mortgage Awards have recognised and rewarded those lenders and providers that have offered the very best products and services to mortgage borrowers over the preceding 12 months.

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