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The deposit decides two things at once: whether you can buy at a given price, and what rate you will pay on the mortgage behind it. Moving from a 5% to a 10% deposit changes both, and the difference is usually larger than people expect.
Enter a target price and the deposit percentage you are aiming for to see the cash required, the mortgage it leaves and how far your current savings get you.
Last reviewed
Deposit required
£25,000.00
A higher deposit usually unlocks better rates. Small-deposit mortgages exist but are not available to everyone or on every property.
The deposit required is the cash you need for the purchase itself. Buying costs such as Stamp Duty, Land and Buildings Transaction Tax, Land Transaction Tax, surveys, legal fees and moving costs sit on top and are not included.
The comparison rows show the same property price at five common deposit levels so you can see what another few thousand pounds of saving would do to the loan and the band.
The deposit is the price multiplied by the deposit percentage. The mortgage required is the price minus that deposit, and the loan to value is 100 minus the deposit percentage.
Your savings are compared with the deposit required to show either the shortfall still to save or the surplus available for other buying costs.
A buyer with £15,000 saved is targeting a £250,000 property.
A £25,000 deposit, a £225,000 mortgage at 90% LTV, and £10,000 still to save.
Target property price (£): 250000; Target deposit (%): 10; Savings you have now (£): 15000
Deposit required: £25,000.00
The result depends on the following. If any of them do not match your situation, treat the figure as indicative only.
Straightforward percentage arithmetic, with the comparison table generated at fixed 5, 10, 15, 20 and 25 per cent levels for the price entered. Nothing is rounded before the final display.
Five per cent is the usual minimum where a lender offers it, ten per cent widens the choice considerably, and rates typically keep improving up to around forty per cent.
Yes. Expect legal fees, a survey, possible purchase tax and moving costs. Many buyers set aside a few thousand pounds on top of the deposit.
Twice over: the loan is smaller, and the lower loan to value usually attracts a lower interest rate. Use the mortgage repayment calculator with each scenario to compare.
Please note: Results are estimates for general information only and are not financial, tax or legal advice. Figures depend on the assumptions listed on each page and on your personal circumstances.
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