First-Time Buyer Calculator UK — Your Path to Homeownership
Calculate what you can afford as a first-time buyer in the UK. See mortgage amounts stamp duty savings Help to Buy options and deposit requirements.
First-time buyers in the UK benefit from several advantages: zero stamp duty on properties up to £425000 (saving up to £8750) access to Lifetime ISA government bonus (25% on up to £4000/year) and various Help to Buy schemes. With average first-time buyer deposits of 15-20% and typical property prices of £200000-£350000 (outside London) homeownership is achievable with proper planning and saving.
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Mortgage Calculator
Key Information
| Parameter | Details |
|---|---|
| Stamp Duty Exemption | £0 up to £425000 |
| LISA Government Bonus | 25% on contributions (up to £1000/year) |
| Average FTB Deposit | 15% - 20% of property price |
| Income Multiple | 4 - 4.5x salary |
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Use Calculator NowFrequently Asked Questions
How much deposit do first-time buyers need UK?
Minimum: 5% ($15000 on a £300000 property) but you will pay higher interest rates. Sweet spot: 10-15% (£30000-£45000) for competitive rates. Ideal: 20%+ (£60000) for the best rates. Sources of deposit: savings ISA/LISA (with 25% bonus) gifted deposit from family (lenders accept this with a signed letter) Help to Buy equity loan (for new builds).
What salary do I need for a £300000 house?
At 4.5x income multiple: £300000 / 4.5 = £66667 salary needed for a £300000 mortgage (zero deposit). With 10% deposit (£30000) you need a £270000 mortgage requiring £60000 salary. Joint buyers: combined income of £60000+ easily qualifies. Some specialist lenders offer 5-5.5x income for professionals (doctors lawyers accountants) allowing lower salary requirements.
Best mortgage deals for first-time buyers UK?
First-time buyer products often have lower rates than standard mortgages and some include free valuations or reduced fees. Compare: 2-year fixed rates (lowest initial rate but remortgage every 2 years) vs 5-year fixed (slightly higher but payment certainty). Use a mortgage broker who searches the whole market — they often find deals not available directly and their fee (£300-£500) is usually worth the savings.
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Last updated: March 2026