The number of Brits taking out mortgages with small deposits is on the rise, chartered surveyor figures have revealed.
More than 10,000 borrowers with deposits of 15% or less took out in April, compared to 9,422 in the same month last year, according to e.surv.
Borrowers with small deposits were mainly based in the North West and Yorkshire, where one in four borrowers had a small deposit.
E.surv director Richard Sexton said: “Borrowers with smaller deposits are making a welcome comeback, thanks to increased accessibility in lending, improving wages and highly attractive mortgage rates.”
Mortgage rates - meaning it can actually be cheaper to take out a mortgage than rent in some areas.
If you’ve got savings, you have a steady job and you know where you want to live for the next few years, you could be ready to buy your first home. .
In many parts of the UK, a 15% deposit is still tens of thousands of pounds. The Government has introduced schemes designed to help you take out a mortgage with a 5% deposit. .
And if you're struggling to stretch even a 5% deposit, check out our tips for .