How much deposit do I need to buy a home in the UK?
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Quick answer: Most lenders need at least a 5% deposit, but 10%–15% or more unlocks much cheaper rates. On a typical home, that means saving anywhere from around £12,000 to £40,000-plus depending on price and the rate you want.
Your deposit decides both whether you can buy and how cheap your mortgage is. This guide explains the minimum, why a bigger deposit pays off, and the extra costs to budget for beyond the deposit itself.
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Read the full mortgages & first homes guide →Primary source: www.moneyhelper.org.uk/en/homes/buying-a-home
Minimum vs sensible deposit
You can buy with 5% down, but the rate on a 95% mortgage is higher and monthly payments larger. Each step up — to 90%, 85%, 75% or 60% LTV — typically reduces the rate, so saving a little more before you buy can cut your payments for years.
Work backwards: on a £250,000 home, 5% is £12,500, 10% is £25,000 and 15% is £37,500. Compare the monthly cost at each level rather than just the cash needed.
Don't forget the other costs
The deposit is not the only up-front cost. Budget for solicitor/conveyancing fees, a mortgage valuation or survey, removal costs and any product fee. First-time buyers pay no Stamp Duty up to £300,000 in England and Northern Ireland, but higher prices and other buyers pay SDLT on top.
A Lifetime ISA can boost a first-home deposit with a 25% government bonus on up to £4,000 a year, for homes worth up to £450,000.
Common questions
Can I buy with no deposit?
True zero-deposit mortgages are rare and come with strict conditions. For almost all buyers a deposit of at least 5% is needed.
Is a bigger deposit always better?
Generally yes, because it lowers your rate and monthly payments — but keep enough cash back for moving costs and an emergency fund rather than putting every penny into the deposit.