The Bank of England has announced that some fixed rate mortgages got cheaper in July. The average rate on a two year deal for someone with a 25% deposit was 6.36%, down from 6.6% in June.
Obviously that's a positive thing, but how common is it to have a 25% deposit? It's completely out of reach of most first time buyers, and I would have thought fairly unusual for second time buyers too, particularly given the downward pressure on house prices.
Obviously that's a positive thing, but how common is it to have a 25% deposit? It's completely out of reach of most first time buyers, and I would have thought fairly unusual for second time buyers too, particularly given the downward pressure on house prices.
