return2ozma@lemmy.worldcake to A Boring Dystopia@lemmy.world · 10 months agoWelcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down paymentfortune.comexternal-linkmessage-square209fedilinkarrow-up1562arrow-down140
arrow-up1522arrow-down1external-linkWelcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down paymentfortune.comreturn2ozma@lemmy.worldcake to A Boring Dystopia@lemmy.world · 10 months agomessage-square209fedilink
minus-squarerich@feddit.uklinkfedilinkarrow-up4·10 months agoNot enough now, here in the UK at least Single 35yo. Earning alright. Mortgage on a 160k flat required a £90k deposit. Was a fucking nightmare, but at least I got it locked in at 4%
minus-squareM0oP0o@mander.xyzlinkfedilinkarrow-up3·10 months agoThat down payment is nutty, but at least you now only have a 70k mortgage. Is it common for people to borrow for the deposit in the UK?
minus-squarerich@feddit.uklinkfedilinkarrow-up2·edit-210 months agoI didn’t borrow for my deposit, majority was saved with a bit of inheritance. But I can see how people might.
Not enough now, here in the UK at least
Single 35yo. Earning alright. Mortgage on a 160k flat required a £90k deposit. Was a fucking nightmare, but at least I got it locked in at 4%
That down payment is nutty, but at least you now only have a 70k mortgage. Is it common for people to borrow for the deposit in the UK?
I didn’t borrow for my deposit, majority was saved with a bit of inheritance. But I can see how people might.