Precision Utility
House Deposit
Calculator
Min Deposit
5%
Best Rate At
25%
Work out how long it will take you to save for a house deposit in the UK. Enter the property price, your target deposit percentage, current savings and monthly saving amount — the calculator factors in compound interest and shows your estimated target date.
Your Details
Time to Save
38 months
Target Deposit
£25,000
Already Saved
£5,000
Remaining to Save
£20,000
Monthly Saving
£500
Target Date
May 2029
Total Interest Earned
£1,247
How the house deposit calculator works
Start by entering the property price you are saving towards and the deposit percentage you want to put down. The calculator works out your target deposit amount and subtracts any savings you already have to find the remaining amount you need.
Next, enter how much you can save each month and the interest rate on your savings account. The calculator uses monthly compound interest to determine how long it will take for your savings to reach the target deposit, accounting for both your regular contributions and the interest earned on your growing balance.
The result shows the number of months until you reach your goal, along with a projected target date and the total interest you will earn along the way. Adjust the sliders to see how increasing your monthly savings or choosing a higher deposit percentage affects your timeline.
This gives you a realistic savings plan for your property purchase. Bear in mind that property prices, savings rates and your personal circumstances may change over time, so revisit the calculation regularly.
What you need to know about saving for a deposit
Deposit thresholds matter: Mortgage rates are structured around loan-to-value (LTV) bands. Putting down 10% instead of 5% typically unlocks noticeably better rates. Further improvements come at 15%, 20% and 25% deposit levels. Even saving a little extra to cross a threshold can save you thousands over the life of a mortgage.
Use tax-efficient savings: A Lifetime ISA lets first-time buyers save up to £4,000 per year with a 25% government bonus (up to £1,000 per year). If you are under 40 and buying a property worth £450,000 or less, this is one of the most effective ways to boost your deposit pot.
Practical tips for saving faster:
- Set up a standing order on payday so savings happen automatically before you spend
- Use a fixed-rate savings account or cash ISA to lock in the best available interest rate
- Review subscriptions and discretionary spending — small reductions add up quickly
- Consider saving into a LISA alongside a regular savings account for the 25% bonus
- Factor in additional costs beyond the deposit: stamp duty, solicitor fees, surveys and removal costs
This calculator gives an indicative timeline. For personalised mortgage advice, speak to a qualified mortgage adviser who can assess your full financial picture.
Frequently asked questions
What is the minimum deposit for a house in the UK?
The minimum deposit for a residential mortgage in the UK is typically 5% of the property price. On a £250,000 home that means saving at least £12,500. However, a larger deposit of 10% or more will give you access to better interest rates and a wider choice of mortgage products.
What are the pros and cons of a 5%, 10% and 15% deposit?
A 5% deposit lets you get on the property ladder sooner but comes with higher interest rates and mortgage insurance costs. A 10% deposit unlocks significantly better rates and more lender options. A 15% deposit gives you access to the most competitive deals, lower monthly payments and greater equity from day one, reducing the risk of negative equity if house prices fall.
Can I use a Help to Buy ISA or Lifetime ISA for my deposit?
The Help to Buy ISA is closed to new applicants but existing holders can still use their savings. The Lifetime ISA (LISA) lets you save up to £4,000 per year and receive a 25% government bonus (up to £1,000 per year) towards your first home, provided the property costs £450,000 or less. You must be aged 18–39 to open a LISA and have held it for at least 12 months before using the funds.
How does my deposit size affect my mortgage rate?
Mortgage rates are tiered by loan-to-value (LTV) ratio. The more you put down as a deposit, the lower your LTV and the better the interest rate offered. Key thresholds are at 90% LTV (10% deposit), 85% LTV (15% deposit), 80% LTV (20% deposit) and 75% LTV (25% deposit). Each step down typically shaves 0.1%–0.3% off the rate, which can save thousands over the mortgage term.
Can I use a gifted deposit to buy a house in the UK?
Yes, most UK lenders accept gifted deposits, usually from immediate family members such as parents or grandparents. The person gifting the money will need to provide a signed letter confirming it is a gift and not a loan, along with proof of their identity and the source of funds. Some lenders may also require the buyer to contribute a portion of the deposit from their own savings.
How much deposit do I need for a buy-to-let property?
Buy-to-let mortgages typically require a minimum deposit of 25% of the property price, although some specialist lenders may accept 20%. Rates improve significantly at 40% LTV (60% deposit). Unlike residential mortgages, buy-to-let affordability is primarily assessed on expected rental income rather than personal earnings.