Average deposit size set to fall

Aaron Strutt Image
House prices maybe increasing in many areas of London but the size of the deposit required by mortgage lenders is steadily reducing. With the help of the Funding for Lending Scheme and an increase in competition, many mortgage lenders now expect a 10% deposit to buy a property. The Council of Mortgage lenders says that first-time buyers typically put down a 20% deposit. However, this figure may well change over the coming months as the mortgage market continues to improve. January 25, 2013
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