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save hard for a deposit when planning to buy

Published: 05/02/2009

Evening Leader (Wrexham) – 5th February 2009

 

Even potential first time buyers who manage to save the 15 per cent deposit often required for a mortgage would be better off renting a home for the first half of 2009 in most areas of the country, says a new market analysis.

 

“The important thing is to build up cash for a deposit.”  So far as current mortgage deals for first timers are concerned.  Andrew Hagger at www.moneynet.co.uk says buyers with a 25 per cent deposit might get a fix at four per cent or slightly less.”

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