How much deposit will I need to buy?
Typically you need 5-10% of the property value for a deposit to buy a house. The other 90-95% is borrowed from the mortgage lender.
Remember the bigger your deposit, the smaller your mortgage and the less interest you'll pay in the long term. A larger deposit could also help you get a better mortgage deal.
Deposit saving tips
Set a savings goal
Use our tool to track your progressWork out how much deposit you'll need and, if you have a NatWest savings account and are registered for Online Banking, use our savings goal tool to track your progress.
Help from elsewhere
Could you borrow some money from your parents? Or move back home to save on rent?
If that's not ideal you could consider buying a property with a friend or family member. There are also Government-backed schemes designed to help first-time buyers.
Cut back where you can
Are there any little luxuries you could cut back on to reach your goal quicker?
Remember to cancel unused gym memberships and consider cutting out the mid-week takeaway.
Create a budget and stick to it
Take a close look at your spendingUse our budget calculator to look at your income and outgoings, and work out where you could cut back and save more.
Standing orders can make it easySet up a standing order to transfer money to a savings account as soon as you've been paid. You can use one of our savings accounts to save for your deposit.
Am I eligible for Help to Buy?
Are you a first time buyer struggling to get on the property ladder? A Help to Buy Equity Loan could help. It allows you to take out a loan which you then add to your deposit for the house you want to buy.
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