Average mortgage deposit hits record £72,000
The average house buyer is putting down a record deposit of more than £72,000, according to an index.
It is the highest level since the Mortgage Advice Bureau (MAB), a broker, began collating the figures in March 2009.
The previous peak was £71,474 in June last year. Last month, the figure rose to £72,302.
Rising house prices mean that not only do buyers need to find bigger deposits, but the increased equity also helps those already on the property ladder to put down larger amounts on their next home. The average deposit as a proportion of a loan rose from 28pc to 30pc.
Earlier this week figures from Halifax showed house prices in the UK had risen by more than £100 a day in April, taking the average value across Britain to £196,412.
MAB's index – compiled using ...
