The amount first-time buyers typically need for a deposit revealed
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The amount first-time buyers typically need for a deposit revealed
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"Nationwide Building Society research indicates that securing a 10 per cent cash deposit in the capital could take a prospective homeowner nine years a stark five years longer than for those attempting to get onto the property ladder in some northern English regions. In the North East, a typical 10 per cent deposit for a first home stands at approximately 13,100."
The Independent requests donations to fund journalists, maintain free access to reporting, and continue sending reporters to cover developing stories across the political spectrum. The outlet emphasizes parsing facts from messaging on issues ranging from reproductive rights to climate change and Big Tech. Nationwide Building Society research shows stark regional disparities in first-time buyer deposits across the UK. A 10 per cent deposit in London typically requires about £44,800 and could take around nine years to save. In contrast, typical 10 per cent deposits stand near £13,100 in the North East, £13,900 in Scotland, and £15,400 in Yorkshire and the Humber.
Read at www.independent.co.uk
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