For a house deposit in 2025, the typical amount needed varies by country and location but generally falls within some common ranges:
- In Australia, most lenders require around a 20% deposit of the property's price to avoid paying lenders mortgage insurance (LMI). For example, on a median home priced at $805,000 AUD, this would be about $161,000 AUD upfront. However, some lenders may accept as low as 5% deposit under certain conditions or government schemes for first home buyers.
- In the UK, the minimum mortgage deposit usually starts from 5% of the property price, but the average first-time buyer deposit is closer to 14-20%. For instance, the median first-time buyer deposit is about £48,350, which represents approximately 14.65% of a median property priced around £370,500. Home movers typically have a larger deposit around 20% or more. Larger deposits can secure better mortgage rates and lower monthly payments.
- For example, if buying a house for £250,000 in the UK, a minimum 5% deposit would be around £12,500, but a more typical deposit could be higher for better mortgage terms.
In summary, while the minimal deposit can be as low as 5%, a deposit of around 20% is typical and preferable to avoid additional costs and get favorable mortgage terms. The exact amount depends heavily on the property's price and the country or region where it is located. If needed, I can provide more specific guidance based on the country or region of interest.