Deposit Savings Calculator
Find out how long it will take to reach your deposit target and when you could be ready to buy.
Your Savings Details
Deposit ready by May 2029
At £500/month, you will reach your £25,000 deposit in 37 months (3 years 1 month).
£25,000
£20,000
37
£2,048
How Deposit Size Affects Your Timeline
| Deposit % | Deposit Amount | Time to Save | Ready By |
|---|---|---|---|
| 5% | £12,500 | 15 months | July 2027 |
| 10%Selected | £25,000 | 37 months | May 2029 |
| 15% | £37,500 | 57 months | January 2031 |
| 20% | £50,000 | 76 months | August 2032 |
| 25% | £62,500 | 93 months | January 2034 |
How Much Deposit Do You Need?
The size of your deposit affects both which mortgages you can access and how much they will cost.
Minimum deposit
The smallest deposit most lenders accept. You will have fewer lender options and higher interest rates, but it gets you on the ladder sooner. Some 95% LTV mortgages require a clean credit history.
Better rates unlock
At 10% deposit (90% LTV), significantly more lenders become available and interest rates drop noticeably. This is the sweet spot for many first-time buyers balancing speed with cost.
Best rate brackets
Most lenders reserve their best rates for 80-85% LTV. A larger deposit also means lower monthly payments, less interest paid overall, and a stronger position if house prices fall.
Tips to Save Faster
Small changes can shave months off your savings timeline.
Set up a standing order
Automate your savings on payday so the money moves before you have a chance to spend it. Treat it like a bill.
Use a high-interest savings account
Shop around for the best savings rates. Even half a percent more can make a real difference over two or three years.
Save windfalls
Tax refunds, bonuses, birthday money, and pay rises. Redirect anything extra straight into your deposit fund.
Track and cut non-essentials
Review subscriptions, switch energy providers, and meal plan. Small savings of 50-100 per month compound meaningfully over time.
Lifetime ISA and Help to Buy ISA
Government schemes can give your deposit savings a significant boost.
Lifetime ISA (LISA)
- •Save up to 4,000 per year and the government adds a 25% bonus (up to 1,000 per year).
- •Available to 18-39 year olds. Can be used to buy a first home worth up to 450,000.
- •Must be open for at least 12 months before you can use it for a purchase.
- •25% withdrawal penalty if used for anything other than a first home or retirement.
Help to Buy ISA
- •Closed to new applicants since November 2019, but existing accounts can still be used until November 2029.
- •Government adds 25% bonus on savings up to 12,000 (maximum bonus of 3,000).
- •Property must cost 250,000 or less (450,000 in London).
- •Bonus is paid at completion through your solicitor, not at exchange, so it cannot count towards your exchange deposit.
What Happens When You Have Saved Enough?
Once your deposit is ready, the next step is finding out how much you can actually borrow. Different lenders will offer different amounts based on your income, commitments, and the deposit you have available.
Check how much you can borrow across 60+ lenders
Our affordability calculator checks every lender simultaneously and shows you the maximum you could borrow with each one. No credit search performed.
Check Your AffordabilityFrequently Asked Questions
How much deposit do I need for a mortgage?
The minimum deposit is typically 5% of the property price, but a larger deposit significantly improves your options. At 10% you access better rates, at 15% many lenders increase their income multiples, and at 20-25% you get the best rates available.
Is a Lifetime ISA worth it for a house deposit?
If you are a first-time buyer aged 18-39, a Lifetime ISA gives you a 25% government bonus on savings up to £4,000 per year — that is £1,000 free per year. The property must be worth £450,000 or less. It is one of the most efficient ways to save for a deposit.
Does a bigger deposit mean I can borrow more?
Often, yes. Many lenders increase their income multiples at lower loan-to-value ratios. For example, a lender offering 4.5x salary at 90% LTV might offer 5.5x at 85% LTV. This means your total purchasing power can increase by more than the extra deposit amount.
Ready to see what you can afford?
Once you know your deposit timeline, check your borrowing power across 60+ UK lenders in minutes.
Start Your CheckNo credit search. Results from 60+ lenders.
