Buying a home

How much deposit do you need to buy a house in 2026?

The minimum house deposit in the UK is 5% of the price, so on a £300,000 home that is £15,000. But most buyers put down more, because a bigger deposit unlocks better mortgage rates and lower monthly payments. Here is what you really need in 2026, with worked examples and some practical ways to get there faster.

The minimum house deposit

Across the UK, the minimum deposit most lenders will accept is 5% of the property price. That is a 95% mortgage, and it is a realistic route onto the ladder for many buyers. The Mortgage Guarantee Scheme also supports lenders in offering these higher loan to value deals, so 5% deposit mortgages are widely available.

What most buyers actually put down

The minimum and the typical are two different things. At the time of writing, the average first time buyer deposit in England is around £60,000, roughly double that in London, with the South East the second most expensive region in the country. That is well above 5%, and there is a good reason: a larger deposit usually means a cheaper mortgage.

Why a bigger deposit helps

Lenders price their mortgages by loan to value, or LTV, which is simply how much you are borrowing against the value of the home. The less you borrow, the lower the risk to them, and the better the rate they offer you. In practice:

• 5% deposit (95% LTV): the entry point, but usually the highest rates
• 10% deposit (90% LTV): rates tend to drop noticeably
• 15% to 25% deposit: the most competitive deals start to open up

A bigger deposit also lowers your monthly payments, can improve your chances of approval if your credit history is not perfect, and gives you a buffer against dips in the market.

Deposit ready reckoner

Here is what 5% and 10% look like across a range of prices common in Kent and South East London:

First-time buyers and home movers

Whether you are buying your first home or moving up, you will usually need at least that 5% minimum. The difference is that home movers often have equity built up in their current property to put towards the next one, while a first time buyer deposit is saved from scratch. If you are moving, the sale of your existing home does much of the heavy lifting.

The costs beyond your deposit

Your deposit is the headline figure, but set aside a few thousand pounds more for the extras:

• Stamp duty, where it applies to your purchase
• Solicitor or conveyancer fees for the legal work
• A survey to check the condition of the property
• Mortgage arrangement and valuation fees, depending on the lender
• Removals and buildings insurance from the day you exchange

How to build your deposit faster

Saving a house deposit is hard work, especially while you are renting, but a few things can speed it up:

• Lifetime ISA: save up to £4,000 a year and the government adds a 25% bonus, up to £1,000 a year, towards a first home worth up to £450,000.
• Gifted deposits: many buyers get help from family. Lenders accept this, but will want a short letter confirming it is a gift.
• Trim the biggest costs: small savings help, but rent, transport and subscriptions are where the real progress is made.

Deposits in Kent and South East London

Prices here sit above the national average, so deposits do too. The upside is that commuter towns such as Dartford and Bexley often give you more home for your money than central London, with fast trains into town, which can bring that 5% or 10% figure down to something more achievable. If you are buying close to £450,000, keep the Lifetime ISA cap in mind, and register with local agents early so you hear about the right homes first.

Want to know what your budget could buy locally? Our buying services team knows the area street by street and can help you focus your search.

Frequently asked questions