For most first-time buyers, saving a deposit takes somewhere between two and five years, but the honest answer depends on two things you control: how big a deposit you're aiming for, and how much you can save each month.
How much deposit do you actually need?
The minimum deposit in the UK is usually 5% of the property price. But a bigger deposit unlocks better mortgage rates and lower monthly repayments, so it's worth stretching to 10% or more if you can. Here's how that looks on a few price points:
| Property price | 5% deposit | 10% deposit |
|---|---|---|
| £180,000 | £9,000 | £18,000 |
| £250,000 | £12,500 | £25,000 |
| £350,000 | £17,500 | £35,000 |
Don't forget the extras on top of the deposit: solicitor fees, surveys, moving costs, and possibly stamp duty. Budgeting an extra £2,000–£5,000 for these keeps completion day from becoming a shock.
How long will it take?
Once you know your target, the timeline is just division. For a £25,000 deposit:
- £400/month → about 5 years 2 months
- £600/month → about 3 years 6 months
- £800/month → about 2 years 7 months
Laid out like that, a vague "someday" becomes a date you can actually plan around.
Enter your deposit target and how much you can save, and PacePot shows your finish date and monthly pace. Free and private.
Open the house deposit calculatorHow to get there faster
A few moves can meaningfully shorten the timeline:
- Use a Lifetime ISA if you qualify. Eligible first-time buyers can save up to £4,000 a year and get a 25% government bonus, up to £1,000 a year of free money toward a first home.
- Keep the deposit separate. A dedicated account stops it quietly leaking into everyday spending.
- Automate the monthly amount so it leaves on payday before you can spend it.
- Funnel windfalls in. Bonuses, tax refunds, and gifts can take months off your timeline.
The bottom line
Decide your deposit percentage, work out the total including buying costs, and divide by a monthly amount you can sustain. A Lifetime ISA and automated saving can shave a year or more off the journey. The earlier you set the target, the sooner the date stops moving away from you.