How much will you need?

Saving for a house deposit

How much deposit will I need to buy?

Typically you need 5-10% of the property value for a mortgage deposit to buy a house. The other 90-95% is borrowed from the mortgage lender.

Remember the bigger your deposit, the smaller your mortgage and the less interest you'll pay in the long term. A larger deposit could also help you get a better mortgage deal.

Calculate how much mortgage you could borrow based on your deposit savings.

You could buy your new home with just a 5% deposit

Deposit saving tips

  1. 1

    Set a savings goal

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    Use our tool to track your progress

    Work out how much deposit you'll need and, if you have a NatWest savings account and are registered for Online Banking, use our savings goal tool to track your progress.
  2. 2

    Help from elsewhere

    Could you borrow some money from your parents? Or move back home to save on rent?

    If that's not ideal you could consider buying a property with a friend or family member. There are also Government-backed schemes designed to help first-time buyers.

  3. 3

    Cut back where you can

    Are there any little luxuries you could cut back on to reach your goal quicker? 

    Remember to cancel unused gym memberships and consider cutting out the mid-week takeaway. 

  4. 4

    Create a budget and stick to it

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    Take a close look at your spending

    Use our budget calculator to look at your income and outgoings, and work out where you could cut back and save more.
  5. 5

    Start saving

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    Standing orders can make it easy

    Set up a standing order to transfer money to a savings account as soon as you've been paid. You can use one of our savings accounts to save for your deposit.

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