Help to Buy lowers average deposits by three quarters

Mon, 07 Oct 2013

Help to Buy lowers average deposits by three quarters
New research has found that the average deposit needed to purchase a new home under the Help to Buy scheme has dropped by around 75 per cent.

The study by Zoopla says that people now typically need around £11,000 in order to buy a property - before the scheme the figure was around the £44,000 mark.

Under the scheme, people will be able to get on the property ladder with as little as a five per cent deposit on homes valued at £600,000 and under - with a further 15 per cent guaranteed by the government in order to secure cheaper deals.

The second phase of the initiative gets underway today (October 7th), after David Cameron brought the start date forward in a speech at the Conservative Party conference.

It is hoped that Help to Buy will address an imbalance in rising house prices and diminishing rates of savings.

Zoopla director Lawrence Hall said: "The new scheme helps address that problem, making the first rung of the ladder much lower for would-be buyers who want to get a foot on it."
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch