House Prices in Hull

The most recent figures, updated in November 2025, show the average property price in Hull at around £133,000. First time buyers in Hull are paying slightly less, with the typical purchase sitting close to £125,000. This trend is common across East Yorkshire, where deposit expectations tend to remain steady between Hull and neighbouring areas.

As a mortgage broker in Hull, we regularly speak to first time buyers who are combining their own savings with financial support from family. This is known as a gifted deposit, and it can make a noticeable difference when you are trying to meet lender criteria or strengthen your position before making an offer. Even a modest increase in your deposit can help improve the mortgage products available to you, especially in areas where demand remains strong.

Average Deposit Amount

The size of your deposit will depend on what you have saved and the mortgage you intend to apply for. Based on the average first time buyer price of £125,000 in Hull, a 5% deposit is around £6,250. Increasing this to 10% brings the deposit to roughly £12,500, while a 15% deposit works out at approximately £18,750.

Although some lenders accept a 5% deposit, putting down more can widen the choice of mortgage products and may help lower your monthly repayments. Many first time buyers in Hull still purchase with a lower deposit, particularly when supported by a stable income and a good credit score.

Average Loan to Value (LTV)

Loan-to-value, or LTV, shows the proportion of the property price that your mortgage covers. Your deposit makes up the remainder. If you are buying a £125,000 property with a £12,500 deposit, your mortgage would come to £112,500, resulting in a 90% LTV.

Most first time buyers we help in Hull fall between 85% and 95% LTV, depending on their savings and whether any family assistance is involved. Mortgages at 95% LTV remain available for those with a steady income and good credit history, while dropping to 90% or 85% can help secure more favourable interest rates.

Reducing your LTV, even slightly, can offer access to a wider range of mortgage products. This is why increasing your deposit by a small amount can sometimes influence the type of deals you are eligible for.

How much can I borrow?

Your borrowing amount is based on more than just your deposit. Lenders will assess your income, regular outgoings, and credit history, and each lender uses its own affordability model. This means the amount offered can vary, particularly if you are self-employed, earning bonuses or commission, or working across more than one job.

As a mortgage broker in Hull, we work with a broad range of lenders, each with its own affordability criteria and borrowing limits. If you are planning to buy your first home in Hull, speaking to a mortgage advisor can help you see what you may be able to borrow based on your situation.

Date Last Edited: 01/07/2026