Deposit
Cash you put toward the property purchase, expressed as % of price.
Full definition
The cash portion of a property purchase, expressed as a percentage of the property price. UK first-time buyers typically need at least 5% (95% LTV). Deposit sources can include savings, gifted deposits from family, inheritance, LISA proceeds, or sale of an asset. Borrowed money (personal loans, credit cards) is not accepted as deposit by mainstream lenders.
How this affects you
Whether deposit is relevant to your mortgage depends on your circumstances — lender, product, deposit, employment, credit profile, and stage of application. An FCA-authorised mortgage broker will tell you exactly where it applies to your case.
Ready to talk to a broker?
An FCA-authorised UK mortgage broker can explain where deposit fits into your specific application — free.
Get matched with a broker