House Deposit Savings Calculator
See how long it will take to save your mortgage deposit, when you'll hit your goal, and how much your savings interest helps.
Time to reach your deposit
On track for September 2029
Savings growth
Year-by-year breakdown
| Year | Total deposited | Interest earned | Balance |
|---|---|---|---|
| 1 | £12,200 | £337 | £12,537 |
| 2 | £19,400 | £981 | £20,381 |
| 3 | £26,600 | £1,945 | £28,545 |
| 3 | £28,400 | £2,238 | £30,638 |
Quick tips
- • A bigger deposit usually unlocks lower mortgage rates.
- • 10%–20% is the most common deposit range in the UK.
- • A Lifetime ISA can add a 25% government bonus on deposit savings.
- • Remember to budget for fees, surveys and moving costs too.
Common deposit sizes
Good to know
Results are estimates. Interest is compounded monthly from the AER you enter, and inflation or rate changes are not modelled. Always check current rates with your provider.
About the House Deposit Savings Calculator
The House Deposit Savings Calculator helps you turn a vague goal — "I want to buy a home" — into a clear, dated plan. By combining the property price, your chosen deposit percentage, what you've already saved and how much you add each month, it shows exactly how long it will take to reach the deposit you need.
Your deposit is the lump sum you put towards a property, with the rest covered by a mortgage. A larger deposit lowers your loan-to-value ratio, which usually means access to cheaper mortgage rates and smaller monthly repayments. This tool also factors in the interest your savings earn along the way, so you can see how a high-interest savings account speeds up your timeline.
How to Use the House Deposit Savings Calculator
- 1 Enter the property price of the home you're aiming for.
- 2 Choose a deposit size using the percentage chips or type your own. The calculator shows the cash target instantly.
- 3 Add what you've already saved and how much you plan to put aside each month.
- 4 Set your savings interest rate (AER) to include the growth from your savings account.
- 5 Read your results — the time to reach your deposit, the projected date, total interest earned and a year-by-year breakdown update automatically.
Frequently Asked Questions
How big a deposit do I need to buy a house? +
Most lenders ask for at least 5% of the property price, but 10%–20% is more common and opens up better mortgage rates. A 20% deposit (an 80% loan-to-value mortgage) is often seen as a strong position with access to some of the lowest rates.
Does the calculator include interest on my savings? +
Yes. Enter your savings account's AER and the calculator compounds interest monthly on your growing balance. Set the rate to 0% if you'd rather see results based purely on your contributions.
What other costs should I save for besides the deposit? +
Beyond the deposit, budget for Stamp Duty (where it applies), mortgage arrangement fees, a property survey, legal and conveyancing fees, and moving costs. It's wise to keep a separate emergency fund too.
Can a Lifetime ISA help me save faster? +
A Lifetime ISA (LISA) gives eligible first-time buyers a 25% government bonus on up to £4,000 saved each year, toward homes up to a price cap. That bonus can significantly shorten your timeline, though this calculator models a standard savings account rather than the LISA bonus.
Is the projected date a guarantee? +
No — it's an estimate based on the figures you enter. Property prices, interest rates and your own contributions can change, so revisit the calculator regularly and adjust your plan as your situation evolves.