Mortgage Deposit Calculator
The amount you need to save as a deposit for a house or flat will depend on several factors including the maximum
loan to value (LTV) of your chosen mortgage product, your income and your credit history.
Our mortgage deposit calculator will tell you the total amount of deposit you need to save based on the percentage you are required to put down. It will also work out how much you need to add to your savings every month in order to achieve your goal.
Property Value What is the property purchase price?
Deposit Required How much deposit do you need to put down?
Current Savings What is your current savings balance?
Savings Rate What interest rate do you get on your savings?
Years to Save How many years do you want to save up for?
The results of your calculations
In order to borrow
of the property purchase price, you will need a deposit of and to achieve this target in you will need to save every month (assuming the interest you receive on your savings remains at ). Based on your current savings balance and interest rate, it doesn't look like you need to make any additional monthly contributions to achieve your target in the time required.
However, there are a couple of important points to make. First, this calculator doesn't take into account the effect of annual house price increases. And second, you should consider saving for other related expenses such as your conveyancing/legal fees, property valuation fees, the booking/application fees charged by your lender as well as any stamp duty that you might have to pay.
Attention - the results provided by this calculator are for illustrative purposes only and should only be used as a guide. This information does not contain all of the details you need to choose a mortgage. Make sure you read the separate Key Facts Illustration before you choose a mortgage. For mortgage advice we recommend you speak to an independent mortgage broker.