Deposit Options
10 Ways to Fund Your House Deposit
Saving is not the only way to build a deposit. From gifts and Lifetime ISAs to shared equity and family support, here are the main options, with the pros and cons of each.
★★★★★ Helping buyers across Scotland pull their deposit together. Rated 5 stars by 235+ clients on Google.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Client Reviews
What Our Clients Say
"We remortgaged with Tony and as always it was a simple smooth process! He explains everything well and is very knowledgeable, honestly wouldn't go anywhere else for mortgage advice! Thanks again ☺️"
Remortgage Customer
"We got recommended Tony from a friend and from start to finish he has made myself and my husband feel at ease with the whole process. Nothing was too much for him or Katie and no question was too silly either. Would highly recommend them to anyone looking for any help."
Mortgage Customer
"I cannot recommend Tony and Katie highly enough. The service has been impeccable, making a potentially stressful and daunting process, seamless. Communication was effective and efficient, which is key in dealing with such a daunting process. You have a lifelong customer here."
Mortgage Customer
The Basics
How Much Deposit Do You Need?
Most lenders want at least 5% of the price. A bigger deposit can mean better rates and more lender choice.
- ✓5%: the minimum for most residential mortgages
- ✓10%: opens up more lenders and better rates
- ✓15% or more: often the best rates
- ✓Offers over: you need extra if you pay more than the Home Report value
How We Help
How to Build Your Deposit
Five steps to get there sooner.
Set a Target
Work out the price range and the deposit you need.
Save Regularly
A standing order on payday makes it automatic.
Use a Lifetime ISA
The government adds 25% to what you save, up to £1,000 a year, if you qualify.
Ask About Family Help
A gift or family support mortgage can make a big difference.
Check LIFT
The Scottish Government scheme can reduce how much you need.
Your Options
10 Deposit Sources
Each one has pros and cons.
Common Questions
Deposit Questions, Answered
The things buyers ask us most.
How much deposit do I need to buy a house in Scotland?
Usually at least 5% of the price, or more if you offer over the Home Report value.
Can I use a Lifetime ISA in Scotland?
Yes, Lifetime ISAs work across the UK for first homes up to the price limit.
Can my deposit be a loan?
Most lenders will not accept a borrowed deposit. It needs to be savings or a genuine gift.
Can I use inheritance as a deposit?
Yes, with proof of where the money came from.
Is a bigger deposit always better?
It usually gets you a better rate, but keep some savings for moving costs and emergencies.
Can I buy without a deposit?
A small number of lenders offer 100% mortgages with strict criteria. We can check if you qualify.
Related guides
- Buying with a 5% deposit
- Gifted deposit mortgages
- LIFT shared equity scheme
- Family support and guarantor mortgages
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
Get in Touch
Working on Your Deposit?
Fill in the form and we will be in touch within one working day. We will show you what you could buy with what you have.