How much is a house deposit?
The minimum deposit for a house
There are 100% mortgages available, which means you don’t need a deposit at all. These are usually called things like Family-assisted mortgages, 100% mortgages, or Joint Borrower Sole Proprietor mortgages. Since your deposit would be £0, your mortgage will cover 100 per cent of the property’s price. A family member, close relative or guardian will be held legally responsible to cover the repayments on the mortgage if you can’t.
They might have to offer their own home or savings as security on the mortgage. This means that if you can’t keep up with the repayments, their home or money would cover the cost. Therefore, guarantor mortgages do have risks, always make sure you—and your guarantor—understand the risks involved and what the repayments will be before getting one.
What schemes are out there to help me?
At the moment there is:
- Mortgage Guarantee Scheme
- First Homes Scheme (England)
- Shared Ownership
The Mortgage Guarantee Scheme is a UK government programme designed to make it easier for people to buy a home with a small deposit (as little as 5%). It works by encouraging lenders to offer high loan-to-value mortgages, typically covering 91-95% of the property's value.
The First Homes Scheme is a government initiative in England that helps first-time buyers purchase a home at a discount of at least 30% compared with the market price. The scheme is designed to make home ownership more affordable for people who want to buy in the area where they live or work, but you might need to meet specific criteria to be eligible.
Shared ownership is a way to get onto the property ladder and buy a share of a property (usually 10% to 75%) and pay rent on the remaining portion to a housing association or landlord.
If the property you’re looking at is being sold under Shared Ownership, a minimum of five per cent is needed for the share of the property you’re buying. So, if you were to buy a share of the property at £80,000, you would only need £4000.
Help to Buy (England) closed to new applicants in October 2022. Help to Buy (Wales) still exists until September 2026. It no longer exists in Scotland or Northern Ireland.
How to make an offer on a house
Buying a house is a big step and can be quite daunting, that's why we’ve put together some tips to help make the whole process that bit smoother.
Saving for a house deposit
Ten per cent is a good benchmark and the higher your deposit gets, the more mortgages you’ll be accepted for. The more you're able to put down upfront, the less you'll need to repay with interest, and it can help your initial mortgage interest rate be lower. If you manage to save 20 per cent, you’ll have access to even more mortgages from different lenders, with even lower interest rates.
Find your local property expert
According to independent YouGov research, most people turn to a local agent for advice and the most trusted local agents are those who are qualified and belong to a professional body. Our members are spread across the UK so use the search below to locate your nearest agency.
YouGov research conducted on behalf of Propertymark in January 2025 with 1012 consumers involved in property transactions in the last 12 months, showed the largest proportion (55%) chose a local property agent for advice and 60% said the most important qualities were holding a regulated qualification and belonging to a professional body.