When it comes to buying a house, saving for a deposit is often the first, and most laborious task.
Unlike moving, dealing with surveyors, finding a mortgage, where you can use professionals such as Rezigo and other brands to help with that and guide you, a deposit and saving for one is a lone task that really is down to one person.
In many regions it can take years to save for a deposit, but which are the towns and cities where deposits are among the cheapest?
If you’re looking to get on the property ladder and want to find the cheapest possible deposit, we’ve highlighted the five places where they are the cheapest, according to studies…
Bradford is the cheapest place in the UK when it comes to making a deposit, with houses often around the £133,000 mark on average. You can put down a deposit for as little as £6,658 in the area, with the city offering some quite stunning architecture in the centre, as well as great connections to the likes of Leeds and Manchester.
Hull is a city that has really come to the fore over the last few years, with the many events that put it on the map through the City of Culture crown. House prices will increase over the coming years as the legacy of the year continues. At present though you can put a deposit down on a home for £7,263.
The North East town is well known for its cheaper property and it offers the third lowest price of a deposit at £7,426. Average salaries in the area are just under £23,000 and it proves to be a good area to get on the ladder, particularly with working from home becoming a more feasible option. Newcastle city centre lies just a short drive away, and many people commute into the city from Sunderland daily.
The Potteries is a lovely part of the world, with the Staffordshire city of Stoke the biggest city in the area. House prices average around £158,000 and a deposit will set you back just under £8,000. It’s another town that is well connected, with Manchester a short train or drive away, while Birmingham and Sheffield aren’t too much further.
Aberdeen marks the cheapest place in Scotland to lay down a deposit, with it possible to do so from £8,101 according to reports. Located in the North East of Scotland, house prices average at £162,011 and offers some stunning architecture and amazing countryside right on the doorstep.