How much deposit do I need to buy a house or flat

Marc von Grundherr

June 19, 2026, 07:24 AM IST

Most buyers aim for a deposit of at least 10% of the property price to secure a mortgage

With a 10% deposit, lenders may offer better mortgage rates and lower monthly payments

Some first-time buyer schemes allow smaller deposits, but often include higher interest or insurance costs

Higher deposits, like 15–20%, can improve affordability and give access to cheaper mortgage deals

Remember to budget for other costs, such as legal fees, stamp duty, and surveys, in addition to your deposit

Understanding deposit requirements early helps you plan your London property purchase with confidence