For many buyers, the mortgage is not the first hurdle. The deposit is. In the UK, that usually means saving at least 5% of the property price, although aiming for 10% can put you in a stronger position.
A 5% deposit can make buying possible sooner, while 10% reduces the amount you borrow and may open up a wider choice of mortgage deals. The right target depends on local prices, your income, your saving rate and whether buying sooner is worth the higher borrowing cost.
What is the minimum mortgage deposit in the UK?
Most buyers should expect the minimum mortgage deposit to be around 5% of the purchase price. A 5% deposit means taking a 95% loan-to-value mortgage, or 95% LTV. On a £250,000 home, that is £12,500 cash and a £237,500 mortgage.
Low-deposit mortgages remain available. The government’s permanent Mortgage Guarantee Scheme, introduced in July 2025, supports the availability of 91% to 95% LTV mortgages from participating lenders. Lenders still apply their own affordability, credit and property criteria, so a 5% deposit does not guarantee approval.
How much deposit should you aim for?
5% deposit
A 5% deposit suits buyers whose priority is getting onto the property ladder sooner. On the June 2026 UK average house price of about £272,000, 5% is roughly £13,600. The trade-off is borrowing 95% of the home’s value, so rates can be higher and the product range narrower than at lower LTV levels.
10% deposit
A 10% deposit on the same £272,000 property is about £27,200. The mortgage falls from around £258,400 at 95% LTV to about £244,800 at 90% LTV. A larger deposit can give you access to more deals and potentially lower rates, which is why 10% is often a useful target if waiting longer still fits your plans.
15% deposit or more
Putting down 15% reduces the mortgage again, but do not empty every savings account just to reach a lower LTV band. You still need money for legal fees, surveys, moving costs, mortgage fees where applicable and unexpected expenses after completion.
How much could you need around the UK?
The house deposit UK average is hard to express as one meaningful cash figure because prices vary sharply by region. The latest UK House Price Index available in August 2026 shows why.
In the North East, an average property price of about £165,550 in June 2026 means roughly £8,300 for a 5% deposit or £16,600 for 10%. In Wales, an average of about £213,160 means around £10,700 or £21,300. In Scotland, an average of about £195,360 means about £9,800 or £19,500.
London is very different. With an average price of about £553,870, 5% is around £27,700 and 10% around £55,400. In the South East, based on an average of about £380,380, the equivalent figures are roughly £19,000 and £38,000. These are broad illustrations; first-time buyers may purchase below the all-property regional average.
How long does saving for a deposit take?
Your monthly saving rate matters more than a national average. If your target is £15,000 and you save £500 a month, the simple saving period is 30 months before allowing for interest or investment growth. At £750 a month, the same target takes 20 months.
Consider a £220,000 home. A 5% deposit is £11,000 and a 10% deposit is £22,000. If you already have £6,000 and can add £600 a month, you would reach 5% in a little over eight months. Reaching 10% would take about 27 months. That creates a real decision: buy sooner with a smaller deposit if the mortgage is affordable, or save longer in the hope of a stronger deal.
Compare several realistic property prices with your savings rate before deciding your target. Useful next reads include saving for a house deposit, understanding loan-to-value and a first-time buyer mortgage checklist.
Can a Lifetime ISA help?
Eligible first-time buyers can use a Lifetime ISA towards a qualifying first home. You can currently contribute up to £4,000 each tax year and receive a 25% government bonus, up to £1,000 a year. For a charge-free first-home withdrawal, the property must cost £450,000 or less, you must be buying with a mortgage and at least 12 months must have passed since your first Lifetime ISA payment.
Check the current official rules before relying on the bonus, particularly if your likely purchase price is near the £450,000 limit.
Keep money aside for buying costs
Treat the deposit as one part of your buying fund. Solicitor or conveyancer fees, a survey, removals, mortgage fees, valuation costs in some cases and initial repairs can arrive close together. Purchase taxes may also apply depending on the property price and which UK nation you are buying in.
A cash buffer can stop an unexpected repair or moving bill from immediately becoming new debt. A bigger deposit can help, but buying with no financial cushion can leave you stretched as soon as you get the keys.
Frequently asked questions
Is a 5% deposit enough to buy a house in the UK?
It can be. Some lenders offer 95% LTV mortgages, meaning you provide 5%. Approval still depends on affordability, credit history, the property and the lender’s criteria.
Is 10% better than 5%?
Often, yes. A 10% deposit reduces borrowing and may provide access to a wider range of mortgages or lower rates. The drawback is the extra time needed to save.
Can I buy with no deposit?
A small number of 100% mortgage products may exist with specific eligibility conditions, but they are less common and can leave you more exposed to negative equity if prices fall.
Should I use all my savings for the deposit?
Usually not. Keep money aside for purchase costs and emergencies rather than putting every available pound into the deposit.
Choosing the right deposit target
Start with the price range you can genuinely afford, then calculate 5%, 10% and 15% of it. Compare those figures with your current savings, monthly saving capacity and comfortable mortgage payment. For many buyers, 5% is the entry point and 10% is the stronger target, but the best deposit is the one that gets you a sustainable mortgage without leaving you short of cash after completion.
