Average Hampshire mortgage deposit price almost doubles with a year
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Data analysed by Mojo Mortgages reveals that the average deposit cost in the south east has grown from 17 per cent of the total mortgage cost to 24 per cent.
This means that first-time buyers are having to put down deposits of £50,000, compared to the average of £26,000 in 2021.
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Hide AdCEO and founder of Mojo Morgages, Richard Hayes, said: ‘Inflation is affecting everyone as they have to contend with the cost of living squeeze.
‘With the energy price cap rising and a high cost of food and petrol, it’s no surprise that many first-time buyers will also be concerned about rising house prices, and how they will be able to save enough money to purchase a home.
‘While two people buying together may be able to more easily save the money, someone looking to purchase without external support might find it harder.’