23 May

Saving a deposit for houses for sale in Gloucestershire?

Saving a deposit for houses for sale in Gloucestershire?

First time buyers who are looking for an estate agent in Gloucestershire should do their homework before saving for a deposit, as they may be able to get a better deal, What Mortgage magazine has advised.

Research by Santander found recently that first time buyers pay an average 17 per cent deposit on their property, taking 29 months to save up for it.

Meanwhile, 43 per cent of first timers looking for property for sale in Gloucestershire and other parts of the country saved and used savings to pay for their deposit, while eight per cent used their inheritance and six per cent had help from parents.

Ben Wilkie, editor of What Mortgage, said shopping around can help buyers to find deals that work for them, or government schemes that provide loans for deposits.

"Yorkshire Bank has a particular saving scheme to help first time buyers save up their first deposit, that essentially means that because your showing Yorkshire Bank that you are able to save this much … they look at you a bit more kindly when it comes to assessing how much you can borrow for your mortgage," he said.ADNFCR-1222-ID-800553630-ADNFCR

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