Mortgage lenders in UK demanding 20% deposit

UK. Mortgage lenders demand 20% deposit from first-time buyers. It was reported last week that the average wait for a mortgage approval was 30 days, more than double the time taken in January. GETTY IMAGES. First-time buyers are being asked to stump up at least 20 per cent for a deposit on a house as a drought in deals strips mortgages from the market. In the past week, not one high street bank has offered mortgages for those with a 10 per cent deposit, and brokers are warning that deals for those with a 15 per cent deposit are disappearing.