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adamUK

How Much Is Substantial

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Since Time to Raise the Rent thinks that a 40k deposit is laughably small, (see here), what would you gauge, as a non-houseowner as a substantial deposit????

£40k seems a fair wedge to me.. Am I wrong?

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A similar deposit to me. I think it is substantial, as most are in debt.

Try saving that amount of money. You will then realise how difficult it can be for the average joe.

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A similar deposit to me. I think it is substantial, as most are in debt.

Try saving that amount of money. You will then realise how difficult it can be for the average joe.

Yeah, that's what I though. 40k would take me about 6 years to save, even putting it in Isas and things. Bonkers!

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Erm... isn't the substantial element only judgable based on the actual sale value of the property?

30K is substantial on a 100K property but not on a London typical 300K property....

I believe a deposit of anything above 25% of the sale price can be classed 'substantial'

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Since Time to Raise the Rent thinks that a 40k deposit is laughably small, (see here), what would you gauge, as a non-houseowner as a substantial deposit????

£40k seems a fair wedge to me.. Am I wrong?

"Substantial" is meaningless without reference to the price of the property you are buying. If it is a £100k house, then £40k is substantial. If it is a £500k house, £40k is nothing.

It would be better expressed as a percentage - I would say 40%+ was "substantial".

Edited by Smell the Fear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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