PMA: Quite simply, you need to save for it! There's no easy shortcut to getting the cash - it takes discipline and may mean saving up, money from parents, selling your car or an inheritance.
The more savings you have to put towards your deposit the better, because a larger deposit usually helps you get a better mortgage deal. The Loan to Value or LTV as it is also known, is the amount borrowed against the value of the property, so on a property worth £100,000 the LTV on a loan of £85,000 would be 85%. Loan To Values can affect both the amount that is lent and the rate payable. Lenders will normally offer products with lower interest rates to clients with a lower LTV.
However, remember to also take into account other costs that come with buying a house, such as legal fees, valuation fees, stamp duty, surveys and removal costs.
Plus, on our website, you'll find some helpful calculators to help you budget and work out how much your repayments could be on different types of mortgages. And also, if you're a NatWest online banking customer, why not use our savings goal tool to help you reach your target.