How Much Do You Need to Buy a Home?

To buy a home you need three things up front: a deposit (typically 5% to 25% of the price), your stamp duty, and completion costs such as legal fees, a survey and moving. Separately, a lender must be satisfied you can afford the monthly mortgage payments. This calculator brings those together — it estimates the price you could realistically reach, the stamp duty on it, your likely monthly payment, and the cash you would need on day one.

The estimate uses income multiples plus your deposit. Most UK lenders cap borrowing at around 4.5 times gross annual income, so the headline figure is 4.5 times your household income plus your deposit. A more cautious lender might lend nearer 4 times income. These are ceilings — a lender’s full affordability assessment of your outgoings, credit history and circumstances can bring the amount offered down.

Most lenders require at least a 5% deposit, and a larger deposit unlocks better mortgage rates because it lowers your loan-to-value (LTV). The dashboard shows your LTV band so you can see where you sit — the keenest rates are usually available at 60% LTV or below. Very few lenders offer 100% mortgages, so in practice plan for at least 5% of the purchase price.

All three are now supported. Choose your region in step 2 and the tool applies the right system: SDLT in England and Northern Ireland, LBTT in Scotland, or LTT in Wales — including each region's own first-time-buyer and additional-property rules. Note that Scotland's first-time-buyer relief works differently (a raised nil-rate band) and Wales has no first-time-buyer relief. For a standalone band-by-band breakdown you can also use our Stamp Duty Calculator.

The cash-needed figure is your deposit plus your stamp duty — the money you must have available at completion for those two items. It does not include the other upfront costs of buying, such as solicitor and conveyancing fees, a survey, mortgage arrangement fees and moving costs, which typically add a few thousand pounds more. To see a full completion-day budget, use our Total Cost of Buying Calculator.

No. The monthly payment shown is the mortgage repayment only, calculated on a capital-and-interest basis over the term you choose. It does not include buildings insurance, service charges or ground rent on leasehold properties, maintenance, council tax or utility bills. Treat it as the mortgage cost, not the full cost of running the home.

No. Every figure here is an illustrative estimate for planning only — not a quote or a decision in principle. Actual borrowing, rates and stamp duty depend on your full circumstances and the lender you approach. For a figure you can rely on, speak to an FCA-authorised mortgage broker, who can check your eligibility across the market.