Martin Lewis on ‘staggering’ lending practices as a new 10% deposit mortgage is launched


    “People are going to hate me for saying that but maybe it’s sit on your hands for the moment and wait if you can’t get the deposit up.

    “Don’t force yourself into an expensive mortgage when you can’t do it.”

    According to the Money Advice Service, the average first-time buyer puts down a 20 percent deposit on their first home, equating to roughly £20,000 or more.

    Deposits, they explain, are a crucial element as the higher the amount is, the more likely it is that the interest on the mortgage could be low.


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