Firstly, some facts.
According to a market research carried out in 2024, the average monthly savings for
a UK household is £450pcm which equates to £5,400 for one year.
It might therefore take you just over one year to save up for a deposit to purchase
your first home (plus some extra to cover the legal fees involved with the
transaction)!!!
If you have £5,000 saved up in your account, or gifted by a family member, you
might not need to rent or live at home with your parents any longer!
The Yorkshire Building Society & Accord have launched this £5,000 deposit scheme
that is designed to help first time buyers getting onto the property ladder.
With just £5k you could be able to purchase a property ranging from £100k to £500k,
depending on your earnings and credit commitments.
There are a few criteria that you will need to meet to be able to access this scheme,
contact us to find out if you can become a home owner!