Saving & costs
Make room for
the whole cost.
Your deposit is one part of the plan. Build a budget for buying, moving and living in your new home.
Start with the monthly picture
Work out what you can comfortably pay each month before deciding on a purchase price. Allow for bills, maintenance and a savings buffer as well as the mortgage.
Give every cost a place
- Deposit: the part of the purchase price you contribute yourself.
- Mortgage costs: ask about product, valuation and adviser fees.
- Legal work and searches: compare what each quote includes.
- Survey: budget separately from the lender’s valuation.
- Property tax: use the rules for the nation where the property is located.
- Moving and settling in: removals, insurance, essential furniture and repairs.
Build a savings plan you can stick to
Separate your deposit savings from day-to-day spending. Choose a regular amount, review it when your circumstances change and keep a record of the source of the money. Your lender and legal adviser will ask about it.
Check help before counting on it
Savings products and home-buying schemes have eligibility rules, limits and conditions. Read the current official guidance before treating a bonus or scheme as part of your budget.
Check the details
Use the linked guidance for the latest rules and advice for your circumstances.