Saving for your first home?
See how to speed up your deposit with tips that make a real difference.
Buying your first home is one of the biggest steps in life — and saving for a deposit can often feel like the biggest barrier. But with the right strategy, guidance, and a few clever tools, you can get there faster than you might think. Whether you're just starting or halfway there, it pays to know your options.
The value of investments can fall as well as rise and you may not get back the amount originally invested.
What’s stopping your deposit from growing?
It can be hard to pin down an exact number — especially with rising prices and different lender rules.
It can be hard to pin down an exact number — especially with rising prices and different lender rules.
Am I missing out on help from the government?
There are schemes like the Lifetime ISA that could boost your deposit — but not everyone knows they qualify.
I’m saving, but it’s not moving fast enough
Even with discipline, it can feel like your savings aren’t keeping up. Let’s look at how to accelerate that.
Getting onto the property ladder can feel like a race — especially when house prices move faster than your savings account. But there are smarter ways to play the game.
We’ll show you how to:
Set realistic savings goals based on local prices and mortgage lending rules.
Choose between a regular savings account, Lifetime ISA, or a Help to Buy ISA (if you still have one).
Understand what counts toward your deposit — including gifted deposits and shared ownership schemes.
Explore how your credit score affects your borrowing and what steps you can take now to improve it.
Plan for associated costs like legal fees, surveys, and stamp duty so you're not caught off guard.
And if you’re worried about affordability or income requirements, we’ll help you work out what’s possible — and whether help from parents or shared ownership might be a good route.
Here’s what most first-time investors ask themselves
When you're new to working life, it’s easy to put off financial planning — but this is the best time to start. We’ll help you make smart decisions from day one.
How much deposit do I need to buy a home?
Most lenders require at least 5%–10% of the purchase price, though a larger deposit can get you better rates.
Can I get help from my parents with the deposit?
Yes — many lenders accept gifted deposits, but there are forms and legal declarations to complete.
What is a Lifetime ISA and should I use one?
It’s a tax-free savings account where the government adds a 25% bonus to your contributions (up to £1,000 a year) — great if you're under 40 and saving for your first home.
What if I don’t earn enough for a mortgage yet?
You could look into guarantor mortgages, joint borrower sole proprietor options, or build your affordability over time with a plan.
Step 1.
Speak to a mortgage adviser
We’ll help you understand your budget, deposit goal, and borrowing power.
Step 2.
Understand your savings options
Find out whether a Lifetime ISA or traditional savings account is right for you.
Step 3.
Build your deposit plan
Set a clear monthly savings target with realistic timelines and support.
Step 4.
Prepare for a mortgage
We'll help you get everything in place — from your credit file to lender-ready paperwork.
The value of investments can fall as well as rise and you may not get back the amount originally invested.