24/09/2026
We , how much deposit do first-time buyers typically need? 🏡
A lot of first-time buyers aim for between 5% and 10% of the property price, although larger deposits can sometimes give access to better mortgage rates.
For example, on a £200,000 home:
• 5% deposit = £10,000
• 10% deposit = £20,000
It’s also worth remembering there are extra costs too, like solicitors, surveys and moving expenses.
One thing we’re seeing at the moment is that affordability checks can feel stricter than they did a few years ago, so having a good credit history and keeping existing debts manageable can really help.
It’s also worth knowing that not all lenders assess applications in exactly the same way. Some can be more flexible depending on your circumstances, job type or income setup.
And if you’re struggling to save a bigger deposit, don’t assume home ownership is completely out of reach. There may be schemes or lender options available that you haven’t considered yet.
Getting advice early (i.e. even before you start stalking houses on Rightmove…) can often make the whole process feel much clearer and less stressful 😊
If you’re thinking about buying your first home, drop the SSA team a message. We often have access to mortgage deals not readily available on the high street. 🏠
Send your questions with and tag our page 💬
