The deposit is the wall almost every buyer hits first. Treat it like a disciplined investor treats any funding target: a fixed monthly transfer, automated, non-negotiable — not whatever happens to be left over at month-end.
Quick savings estimator
A rough monthly target and timeline — for the exact country-adjusted version with currency switching, use the full Down Payment Planner.
The 50/30/20 starting point
A widely used baseline: 50% of net income to needs (rent, food, utilities, minimum debt payments), 30% to wants, 20% to savings and extra debt repayment. If you're actively saving for a deposit, most people need to push savings well past 20% for a few years — the estimator above shows what 10%, 20% and 30% actually mean in months, not just percentages.
Automate it. Move the savings amount on payday, before you see it, into an account you don't use for daily spending.
Separate "deposit" from "emergency fund." Raiding your deposit for a car repair resets your timeline; keep a small separate buffer instead.
Round up windfalls. Bonuses, tax refunds and gifts — send a fixed share straight to the deposit account rather than absorbing it into normal spending.
Can you borrow the deposit itself?
Some buyers consider a short-term personal loan or bridging loan to top up a deposit that's close but not quite there. It is possible in some markets — but weigh it carefully:
Rates are meaningfully higher. Unsecured personal loans typically run several points above a mortgage rate, and bridging finance is priced higher still. You would be paying two different, more expensive forms of debt to fund one purchase.
Many mortgage lenders don't allow it. A lender assessing your deposit as "genuine savings" may reject or reprice the mortgage if part of the deposit is itself borrowed — disclose it and check first, don't find out at completion.
It stacks your debt-to-income ratio. A short-term loan repayment sits alongside your new mortgage payment, which can strain affordability exactly when you can least afford it.
When it can make sense: a short, clearly-dated gap — for example, funds arriving from a property sale or bonus within weeks — where the loan is a bridge, not a substitute for genuine savings.
⚠️ Not financial advice. Whether a short-term loan for a deposit makes sense depends entirely on your lender's rules, your interest rate, and your ability to repay both debts. Speak to a mortgage broker before committing to this route.
Frequently asked questions
Some lenders and personal-loan providers will let you borrow part of a deposit, but rates on unsecured short-term loans are usually well above mortgage rates, and many mortgage lenders will not accept a deposit that is itself borrowed — always check your lender's rules first.
A common starting point is 20% of net income, adjusted up or down depending on your target deposit, timeline and existing debts. Our savings estimator on this page gives you a personalised monthly figure and a realistic timeline.
Know your full number before you save
Your deposit isn't the only cash you need on completion day. Two more calculators most buyers underestimate: