How much deposit do you need for First Time Buyer UK?

Usually, a 10% deposit is standard when buying a house, but as a First Time Buyer you may need as little as 5% of the property price. It’s worth checking with mortgage lenders what offers they have for First Time Buyers.

What qualifies as a First Time Buyer in the UK?

To qualify as a First Time Buyer in the UK, you must have never owned a property either in the UK or abroad. You can own a commercial property (e.g. a shop) as long as it has no living space attached to it.