This is one of our most frequently asked questions, and with good reason – saving, whilst paying rent, is not easy to do. Everyone’s circumstances are different (we see the full range), but a couple of bits of data highlight the challenge.
Data from the Office for National Statistics (ONS) in 2024 said that a typical household saves £180 a month (although the average was £450 a month – skewed by a few high earners putting away large amounts). The picture from Barratt Homes in 2025 (referenced in IFA magazine), gave a typical savings rate for first-time buyers as £275 a month for Gen Z, and £245 a month for Millennials.
With average house prices in the UK at around £250,000 (£300,000 in the South West, where we are based), this means that getting to a 10% deposit will take around a decade or so.
But do you need 10% deposit?
Whilst that used to be the norm, lenders have been taking big strides towards improving access to home ownership, both by increasing their income multiples (how much more than your income they will lend you) and by reducing maximum deposits.
This means that home ownership may be closer than you think.
Here, we outline the options available to you, starting with some deals that need no deposit at all.
Bear in mind as well that lenders know how supportive families can be to each other and they will all accept a gift from a close family member as a legitimate deposit. In fact, more than half of the applications we help first-time buyers with have an element of financial support from family. There are also a few lenders who share our optimism about the kindness of friends, and accept gifts from them too.
So, what are your options if you are looking to buy?
See below for a summary from £0 deposit onwards. The bigger the deposit, the lower your interest rate. But that may well be worth it if you can save yourself several years of rental payments, or just if you want to keep some money back to spend on getting your new home looking the way you want it.
We’ve written this in summer 2026 – and that’s important to say, as this is an area where lenders are innovating rapidly – we keep track of every innovation, so do get in touch if you’re interested in buying, but don’t quite fit any of these scenarios – there may be good news around the corner!
| Deposit | Lenders | Notes |
| £0 / 0% | Fewer than 10 | There are a few lenders who can help in these 5 scenarios – although you will need to have a great credit history, and these are special cases – get in touch and we can work it through. You will have options if you:
|
| £5,000 / 1-3% | Fewer than 10 | If you are prepared to fix for 5 years, lenders such as Accord, Halifax, Santander & Leeds offer options starting at 1% or 2% deposit, although most won’t let you buy a new build. There are even lenders who will accept a less-than-perfect credit history at 3%. |
| 5-10% | 50+ | Most people can get a 5% deposit mortgage. Credit scoring is a little stricter than with a bigger deposit, and rates run 0.3% to 0.5% higher than a 10% deposit mortgage, but there are lots of options (unless you’re buying a new-build flat). |
| 10-15% | Almost all | Better rates and more options open up here. Usually 0.1% to 0.3% higher than a 15% deposit mortgage. Still a few restrictions on new-build flats. |
| 15-25% | All | Unless you’re buying a flat above a shop on a high street, or somewhere noisy or smelly, you should have options. Rates are very competitive, only 0.1-0.2% higher than a 25% deposit. |
How do lenders check your deposit?
Whatever the size of your deposit, and wherever it’s come from (savings, gifts, bonuses, inheritance), lenders are legally required to check it’s been saved or gifted legitimately, as part of anti-money laundering rules. In practice, that generally means a year’s bank statements showing the deposit building up, a signed letter from anyone gifting money, and evidence of where the gifter’s funds came from. It can feel a little intrusive, but it’s standard practice across every lender.
For the full list of what you’ll need, check out our guide to proving your source of funds.
Every situation is different: your income, credit history, location and the type of property you want all affect which deals are realistically available to you. The only way to know for certain is to run the actual numbers for your circumstances.
Book a no-obligation chat with us. We’ll show you exactly what deposit you need, what rates you can access, and whether getting on the ladder sooner makes financial sense for you. No sales pressure, just honest advice.
Because your mortgage shouldn’t cost the earth.
Remember, your home may be repossessed if you do not keep up repayments on your mortgage.
