Deposit calculator
See how much you need to save and the mortgage size for each deposit level.
Quick prices
Property price
£350,000
Typical minimum deposit for most UK mortgages is 5% to 10% of the purchase price. A larger deposit unlocks lower rates and better deals.
5% deposit
£17,500
Low-deposit deals are available but rates are typically higher.
10% deposit
£35,000
15% deposit
£52,500
A 15% deposit often qualifies for the lowest interest-rate bands.
20% deposit
£70,000
A 20% deposit often qualifies for the lowest interest-rate bands.
25% deposit
£87,500
A 25% deposit often qualifies for the lowest interest-rate bands.
How this works
- The deposit is calculated as a percentage of the property price. The mortgage is the remaining amount.
- LTV (loan-to-value) is the mortgage as a percentage of the property price. Lower LTV = lower rates.
- Most UK lenders offer 5% deposit mortgages, but 10% or 15% often gives access to much better rates.
- Do not forget other purchase costs such as stamp duty, solicitor fees, surveys and removals.
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Get free triage reportHow much deposit do you need for a £350,000 house?
For a £350,000 property in the UK, a 5% deposit is £17,500, a 10% deposit is £35,000 and a 20% deposit is £70,000. The rest is covered by your mortgage — £332,500, £315,000 and £280,000 respectively. Lenders describe this as loan-to-value (LTV): the lower your LTV, the cheaper the interest rate you are usually offered.
What is a good deposit in 2026?
Most UK lenders will accept a 5% deposit, but rates improve noticeably at 10%, again at 15% and again at 25%. Saving from £17,500 to £35,000 on a £350,000 home — a difference of £17,500 — can save more over a five-year fix than the extra saving costs you, because you move from a 95% LTV band to a 90% band.
Costs to budget for on top of your deposit
- Stamp duty land tax — depends on price, first-time buyer status and whether it is an additional property.
- Conveyancing and searches — typically £1,200–£2,000 including local authority, drainage and environmental searches.
- Survey — around £400 for a Level 2 HomeBuyer report and £800+ for a Level 3 building survey.
- Mortgage arrangement or product fee — often £999, sometimes addable to the loan.
- Removals, storage and initial furnishing — commonly £500–£1,500 for an average move.
First-time buyer deposit help
A Lifetime ISA adds a 25% government bonus on savings up to £4,000 a year, worth up to £1,000 annually towards a first home under £450,000. Shared ownership lets you buy a share (typically 25–75%) and pay a deposit only on that share — on a £350,000 home a 25% share needs a deposit of just £8,750 at 10% LTV. Gifted deposits from family are accepted by most lenders with a signed gift letter.
Frequently asked questions
- Can I buy with no deposit?
- A small number of 100% LTV products exist, usually guarantor or track-record rental schemes. Rates are higher and criteria are strict.
- Does a bigger deposit mean I can borrow more?
- Borrowing is capped by income (usually 4–4.5× household income) as well as LTV, so a bigger deposit raises the price you can reach rather than the loan you can get.
- When do I pay the deposit?
- You pay your deposit to your solicitor before exchange of contracts; it is transferred to the seller's solicitor on exchange, with the balance paid on completion.
A short guide to house deposits
Your deposit sets the loan to value band you borrow at, and each band step usually cuts the interest rate you are offered.
- 5% deposits are available but come with the highest rates and the smallest choice of lenders.
- 10% is the practical minimum for a competitive rate; 15% and 25% unlock materially cheaper products.
- Deposit money must be evidenced — keep six months of statements showing where savings came from.
- Gifted deposits need a signed letter from the giver confirming there is no repayment or ownership claim.
- Keep money aside for stamp duty, legal fees, survey and removals — those are on top of the deposit.
Frequently asked questions
- How much deposit do I need to buy a house in the UK?
- Most lenders want at least 5% of the purchase price, but 10% opens far more products and 15–25% gets you the cheapest rates. Enter your target price above to see each level.
- What is loan to value (LTV)?
- LTV is the mortgage as a percentage of the property value. A 10% deposit means a 90% LTV. Rates improve at each band: 95%, 90%, 85%, 80% and 75%.
- Is a bigger deposit always better?
- A bigger deposit lowers your rate and monthly payment, but keep a cash buffer for stamp duty, legal fees, survey, removals and early repairs.
- Can I use a gifted deposit?
- Yes. Lenders accept gifted deposits from close family with a signed gifted-deposit letter confirming the money is a gift, not a loan, plus source-of-funds evidence.
- Does the deposit include the reservation fee?
- No. Any reservation or exchange deposit paid earlier usually counts towards the total deposit at completion, but fees paid to agents or brokers do not.