September 16, 2021, 18:22

    Inside three super cheap UK homes where you only need £3,500 deposit

    Inside three super cheap UK homes where you only need £3,500 deposit

    Pulling a deposit together is often the hardest part of getting on the property ladder.

    Latest research from Zoopla shows the average value of a home across the UK is now £234,000, after prices grew by 6% in July.

    This means you’d need to save up £23,400 for a 10% deposit on a home of this value.

    Nationwide puts the cost of the average home to a slightly higher figure of £248,857 – commanding a 10% deposit of £24,800.

    Of course, the deposit percentage you need largely depends on the type of mortgage deal you’ve been offered.

    The bigger the deposit you can save, the more likely you’ll be offered a lower interest rate, which means lower monthly repayments.

    Have you bought a home on the cheap? Let us know: mirror.money.saving@mirror.co.uk

    But if you’ve only been able to save a small amount, we’ve worked with Zoopla to find three properties that are on the market for just £35,000.

    This means if you were to save for a 10% deposit, you’d only need £3,500, excluding any legal fees or additional costs.

    Two-bed house in Durham – £35,000

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    Image:
    Zoopla)

    First on our list is this two-bed freehold terraced house in Durham, which is described by estate agents Strike as a "great investment opportunity".

    It contains two large reception rooms and "spacious" kitchen, along with a family bathroom and "ample loft space.

    (

    Image:
    Zoopla)

    There is also a back garden for those who are craving outside space.

    Sadly, you can't see photos of all the rooms in its online listing so we can't comment on its condition generally.

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    Image:
    Zoopla)

    However, the rooms we can see have magnolia walls and beige carpet, so the house is pretty neutral but probably in need of modernising.

    There also appears to be a Post Office just next door.

    Two-bed house in Whitehaven – £35,000

    Next up is this two-bed terraced leasehold property in Whitehaven.

    There isn't much given away in terms of the description, but the house is listed as "in need of modernisation" and only has partial double glazing.

    (

    Image:
    Zoopla)

    The rooms look largely in need of decoration, with a sheet currently in place of a curtain in the kitchen.

    If you're interested in this home, it'll definitely be a fixer-upper.

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    Image:
    Zoopla)

    Other pictures old-fashioned carpets and walls that are in dire need of a paint job.

    The good news is, there is no chain which means it is ready to move in to now.

    One-bed bungalow in Sunderland – £35,000

    A one-bed terraced freehold bungalow in Sunderland has also gone on the market for £35,000.

    Estate agents Springbow describes this one as "ideal for first time buyers and investors" and says it's in a residential area.

    The description says it comes with a "spacious" sitting room, kitchen, large bedroom and three-piece family bathroom.

    It also benefits from double glazed windows and central heating.

    Sadly, we can only see two pictures inside this property – and it appears it is also in need of a lick of paint and doing up.

    Like the other properties we've listed, there is also no chain.

    Sourse: mirror.co.uk

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