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Budget, Property Purchase

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tamborine | 22:28 Thu 21st Mar 2013 | Business & Finance
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Is Gov offering 5% towards prop deposit. What is the usual deposit on £200k property?
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Avatar Image bednobs
it would depend on how much mortgage you needed. Assuming you need all of it as a mortgage, deposit would probably be between 10-20% (20-40k)
10:19 Fri 22nd Mar 2013
Avatar Image rockyracoon
You have to find 5% (10k), the government will loan a further 15% (30k) to make a 20% (40k) deposit.

Banks have there own ideas about deposits, the best interest rates are when the loan to value of property is 60% or less.
11:13 Sun 24th Mar 2013

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