Scottish city named as best in UK to save for house…

Scottish city named as best in UK to save for house deposit in new study

A SCOTTISH city has been named the best place in the UK to save up for a house deposit.

The research, carried out by a major mortgage firm, found that six local authorities in Scotland were among the UK's 10 best for saving for a deposit.

Aberdeen won the top spot, with relatively high wages compared to house prices.

SPF, the mortgage firm behind the research, calculated their figures based on homebuyers putting 20% of their income every month into savings.

Aberdeen named the fastest UK city to save up for a house deposit

In Aberdeen, saving for a 10% deposit would take three years, three weeks and two days.

During the study period, Scotland's third largest city had an average monthly salary of £1710, and house prices around £125,671, meaning a buyer would have to save £342 per month to meet that timeframe.

Inverclyde was named the second best place in the UK to save for a house deposit (Image: NQ)

Second in the UK was Inverclyde, where saving for a home in that time period would take three years, four months, two weeks and six days.

Next in Scotland was East Ayrshire, which came in fourth place – saving for a 10% deposit there would take three years, seven months, two weeks and four days.

Elsewhere in the top ten were North Ayrshire at fifth, Na h-Eileanan Siar in sixth place, and West Dunbartonshire taking 10th spot.

In North Ayrshire, a 10% deposit would take three years, seven months, two weeks and four days, the same as in East Ayrshire.

In Na H-Eileanan Siar, it would take three years, eight months, two weeks and five days to save, while in West Dunbartonshire it would take three years, 11 months and three weeks.