How much deposit do I need for a £450K house?

You need £22,500 (5%) minimum, but £45,000-£67,500 (10-15%) is more realistic. At this price, most lenders prefer 10%+.

What salary do I need for a £450K house?

With a 10% deposit (£405K mortgage), you typically need £90,000-£101,250 income at standard 4-4.5x lending multiples.

For a £450,000 house, you’ll need a minimum deposit of £22,500 (5%), though £45,000-£90,000 (10-20%) is strongly recommended.

Deposit %	Amount	Mortgage	Best Rate Tier
5%	£22,500	£427,500	Higher rates (~5.5%)
10%	£45,000	£405,000	Good rates (~4.5%)
15%	£67,500	£382,500	Better rates (~4.2%)
20%	£90,000	£360,000	Best rates (~4.0%)

Deposit	Mortgage	Monthly Payment (25yr)	Rate
5% (£22.5K)	£427,500	£2,631	5.5%
10% (£45K)	£405,000	£2,255	4.5%
15% (£67.5K)	£382,500	£2,070	4.2%
20% (£90K)	£360,000	£1,901	4.0%

A 20% deposit saves £730/month compared to 5%.

Cost	5% Deposit	10% Deposit	20% Deposit
Deposit	£22,500	£45,000	£90,000
Stamp duty (FTB)	£7,500	£7,500	£7,500
Stamp duty (mover)	£12,500	£12,500	£12,500
Solicitor	£2,200	£2,200	£2,200
Survey	£750	£750	£750
Arrangement fee	£999	£999	£999
FTB Total	£33,949	£56,449	£101,449

Deposit	Mortgage	Single Income (4.5x)	Joint Option
10%	£405,000	£90,000	£50K + £40K
15%	£382,500	£85,000	£47K + £38K
20%	£360,000	£80,000	£45K + £35K

Deposit Level	5%	10%	20%
Deposit paid	£22,500	£45,000	£90,000
Total interest (25yr)	£361,675	£271,421	£210,222
Total cost	£811,675	£721,421	£660,222
Savings vs 5%	—	£90,254	£151,453

At this price point, you likely need aggressive saving:

Tags: