How much deposit do you need for a mortgage?
A mortgage deposit is the part of the purchase price you pay from savings or another lender-accepted source. The mortgage covers the remainder. This calculator compares common deposit percentages and shows the resulting mortgage and loan-to-value ratio.
The deposit is not the complete cash requirement. Solicitor fees, surveys, mortgage fees, removals, purchase tax and emergency savings can materially increase the amount needed before completion.
Mortgage deposit and loan-to-value
Loan-to-value, usually shortened to LTV, compares the mortgage with the property value. A £315,000 mortgage on a £350,000 property has a 90% LTV and requires a £35,000 deposit. Increasing the deposit reduces both the mortgage and LTV, although mortgage availability and pricing remain subject to lender criteria.
First-time-buyer deposit
First-time buyers may be eligible for particular mortgage products or purchase-tax treatment, but this is not automatic. Eligibility can depend on every buyer, the property price and the UK nation.
Gifted deposits
A lender will normally require evidence of where gifted funds came from and whether repayment or ownership rights are expected. Tell the lender or broker about the gift early.
Buying costs
Budget separately for conveyancing, surveys, valuations, mortgage or broker fees, removals, insurance and possible repairs. Some product fees can be added to the mortgage, but doing so can increase interest.
Emergency savings
Keeping money after completion can help cover urgent repairs, moving surprises and changes in household costs. The calculator lets you protect a chosen reserve instead of treating all savings as spendable.
Property purchase tax across the UK
England and Northern Ireland use Stamp Duty Land Tax, Scotland uses Land and Buildings Transaction Tax, and Wales uses Land Transaction Tax. Rates and reliefs differ, so this calculator provides an editable cost rather than assuming one UK-wide tax. Use the relevant official calculator linked from the GOV.UK home-buying tax guide.
How long will it take to save a house deposit?
The estimated timeline divides the remaining personal cash shortfall by the monthly saving amount. It does not predict interest earned, house-price changes, inflation or changes to mortgage and tax rules. Review the plan regularly and keep the deposit in a savings product appropriate to your timeframe and risk tolerance.
UK mortgage deposit questions
Is a 5% mortgage deposit enough?
Some lenders offer high-LTV mortgages, but availability, rates and eligibility vary. A larger deposit may widen the available product range, but there is no guarantee of acceptance.
Is the deposit the same as cash needed to buy?
No. The deposit contributes to the purchase price. You may also need purchase tax, legal and survey fees, mortgage charges, removal costs and money for initial repairs.
Can family provide a gifted mortgage deposit?
Many lenders accept gifts subject to their rules. They commonly require identification, evidence of the source and confirmation that the money is not repayable and does not create an ownership interest.
Does a larger deposit reduce mortgage repayments?
Yes, if the property price, rate and term stay the same, a larger deposit reduces the mortgage balance and therefore the calculated repayment and total interest.
Does the calculator automatically calculate stamp duty?
No. Enter an estimate from the official calculator for England and Northern Ireland, Scotland or Wales because the applicable tax depends on location and buyer circumstances.