Saving for a house deposit is one of the biggest hurdles to getting on the property ladder in the UK. With house prices varying widely across the country, understanding exactly how much you’ll need is essential. Whether you are buying your first home or moving to a bigger one, knowing your ideal deposit can help you plan your money better.
In this guide, we’ll break down how mortgage deposits work, the typical percentages required, and the key factors that can influence how much you need to save. Plus, you can use our interactive mortgage deposit calculator to get a personalised estimate in seconds.
Try Our Mortgage Deposit Calculator
Before diving into the details, get a quick idea of what deposit you’ll need by using this handy tool:
Simply input your target property price and preferred deposit percentage to see exactly how much you need to save.
What Is a Mortgage Deposit?
A mortgage deposit is the upfront lump sum you put towards buying a home. It’s expressed as a percentage of the property’s total value. The remaining amount is typically covered by your mortgage lender.
Example:
If you're buying a property worth £300,000 and put down a 10% deposit, you’ll need to save £30,000, and borrow the remaining £270,000 as a mortgage.
How Much Deposit Do You Need to Buy a House in the UK?
In the UK, the minimum deposit required is usually 5% of the property price, but putting down a larger deposit (10–20%) has several advantages:
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Access to better mortgage rates
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Lower monthly repayments
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Increased chance of mortgage approval
Typical Deposit Scenarios:
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5% deposit: Often suitable for first-time buyers through government schemes like Help to Buy or Shared Ownership.
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10% deposit: The most common target for buyers.
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15–20% deposit: Offers access to the most competitive mortgage deals.
Use the calculator to test different deposit amounts and see how it affects your borrowing needs.
What Influences the Deposit You’ll Need?
Several factors affect how much you need to save:
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Property location – Buying in London or the South East often means a larger deposit due to higher property prices.
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Credit history – Lenders may require higher deposits if your credit score is low.
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Income and affordability checks – Your salary and expenses affect how much you can borrow. This also determines how much deposit you need.
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Type of mortgage – Some lenders may offer lower deposit options under specific schemes.
Tips for Saving Your Deposit
Saving for a deposit can take years, but these tips can help:
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Set a clear goal using our calculator
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Open a Lifetime ISA (LISA) for a 25% government bonus
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Cut unnecessary expenses and set up a dedicated savings account
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Explore schemes like Shared Ownership or First Homes
Final Thoughts
Knowing how much deposit you need is the first step towards buying your dream home. Use our mortgage deposit calculator to get a fast, tailored estimate and start planning your journey up the property ladder.
Looking for more home-buying advice? Explore our blog for more useful guides and insights.
Frequently
How much deposit do I need for a £250,000 house in the UK?
A 10% deposit would be £25,000. Use the calculator to test other percentages.
Is 5% enough for a house deposit?
Yes, many lenders accept a 5% deposit, especially for first-time buyers. However, larger deposits can unlock better mortgage deals.
What’s the average deposit for first-time buyers in the UK?
As of recent data, the average deposit is around 15%, but this varies by region.
Can I get a mortgage with no deposit?
It’s rare, but some lenders offer 100% mortgages with a guarantor or under family support schemes.
Does the deposit affect my mortgage repayments?
Yes, a higher deposit reduces the loan size, which typically lowers monthly repayments and interest rates.
For more insights into co-living and renting tips, check out our blog on Student's Guide to Renting in London in 2025 or 5 Things to Look Out for before Renting an Apartment.
