this post was submitted on 25 Jul 2023
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One in four new UK homebuyers under 25 rely on ‘bank of mum and dad’ – study (www.theguardian.com)
submitted 1 year ago by Ninmi@sopuli.xyz to c/europe@feddit.de
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[–] theinspectorst@kbin.social 1 points 1 year ago* (last edited 1 year ago)

So, it's pretty common to get a mortgage when buying a house rather then purchasing cash up front.

It's pretty common to not be able to borrow more than 4x your income and to need to put down a 10% (or more) deposit if you want a half decent rate. Do you know a lot of under-25s who have £30k in self-made savings (not family wealth) and earning salaries of £68k a year to be able to qualify for a £270k mortgage?