Average house deposit in Bromley twice as much as in the rest of the UK

First published in News News Shopper: Photograph of the Author by , reporter

RESEARCH has revealed the average cost of a homebuying deposit in Bromley is more than twice the national average.

The average cost of a deposit in the borough is £59,423 while in the UK overall it is £26,468.

In Kent the average is £36,590 however data from financial institution Castle Trust revealed that buyers in London need a whopping £72,760 to find a home.

Castle Trust chief executive officer Sean Oldfield said: "Parents and grandparents are being called on more and more to help children with their first deposit and the proportion of the population owning their own home without family help is likely to continue to fall.

"Aspiring homeowners need alternatives to borrowing from family which is why the Government has launched a range of initiatives including NewBuy and FirstBuy."

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