Mortgage deposit calculator
Work out how much you need to save for your mortgage deposit and how long it will take you.
You’re ready to make your first move onto the housing ladder and you might even know the area you’d like to make your neighbourhood.
Perfect for first-time buyers, our mortgage deposit calculator can help you work out how much you need to save for a home typical for the area you’re looking in. Work out how long it will take you to save, depending on how much you’ve already got and what you can put away each month.
Start with the amount you expect to pay for your new home – for example £150,000. From there you can work out what your required deposit will be. For example:
|Deposit||Home price £150,000||Home price £225,000|
Your mortgage deposit is the amount you pay upfront to buy your new home. The more deposit you put down, the smaller your overall mortgage will be. This could potentially mean you start off with smaller monthly payments or pay the outstanding mortgage off more quickly, by reducing the number of years you need to pay off your mortgage.
Your Deposit Saving Goal
Use the sliders to see what small changes could make to your deposit saving goal
Need a hand choosing
a savings account?
Make sure you have the right account to save for your mortgage deposit.
Answer a few quick questions and we’ll help you find the best of our savings accounts to suit you.
First-time mortgage guide
We’ve created a useful guide full of tips, key information and all you need to know about buying your first home.