How much deposit do you need to buy a House in Cambridge in 2026?
Saving for a deposit is one of the biggest steps when buying your first home. Many buyers ask the same question, how much deposit do you actually need to buy a house?
For buyers in Cambridge, property prices are often higher than the UK average, so understanding your deposit options is especially important.
In this guide, we explain how deposits work, how much you might need to buy a property in Cambridge, and the options available to help first-time buyers get onto the property ladder.
What is a mortgage deposit?
A mortgage deposit is the portion of the property price that you pay upfront when buying a home. The remaining amount is borrowed from a lender through a mortgage.
For example:
| Property Price | Deposit | Mortgage |
| £300,000 | £30,000 (10%) | £270,000 |
| £300,000 | £15,000 (5%) | £285,000 |
Most lenders require deposits between 5% and 20% of the property value.
If you’re unsure how much you could borrow, speaking to a mortgage adviser can help you understand your options before beginning your property search.
You can learn more about the mortgage process on our mortgage advice page.
Average house prices in Cambridge
Property prices vary depending on the area and property type, but homes in Cambridge tend to be above the UK average.
This means typical deposits could look like:
| Property Price | 5% Deposit | 10% Deposit |
| £300.000 | £15,000 | £30,000 |
| £400,000 | £20,000 | £40,000 |
| £500,000 | £25,000 | £50,000 |
Many buyers aim for a 5 – 10% deposit, although saving a larger deposit can sometimes give access to lower mortgage interest rates.
Minimum deposit options for first-time buyers
5% deposit mortgages
Some lenders offer mortgages requiring a deposit of just 5% of the property value.
This can help buyers purchase a property sooner, although the interest rates available may sometimes be higher compared with mortgages with larger deposits.
A mortgage broker can compare lenders and help identify which mortgage deals may be suitable for your circumstances. If you’re buying your first home, you may find it helpful to explore the mortgage advice page.
10% deposit mortgages
A 10% deposit is one of the most common options for buyers.
With a slightly larger deposit, you may benefit from:
- More mortgage lenders to choose from
- Lower interest rates
- Greater flexibility during affordability checks
Larger deposits (15 – 20%)
Saving a larger deposit can sometimes result in better mortgage deals.
Benefits may include:
- Lower interest rates
- Reduced monthly repayments
- Access to a wider range of mortgage products
However, every buyer’s situation is different, so it’s important to balance saving a larger deposit with buying at the right time.
First-time buyer schemes that may help
Several schemes may help buyers reduce the amount they need to save.
These include:
- Shared ownership schemes
- Family support mortgages
- Lifetime ISA savings bonuses
A mortgage adviser can help explain how these work and whether they could help you buy sooner.
Tips for saving a house deposit
Saving for a deposit can take time, especially in higher priced markets such as Cambridge. A few strategies that may help include:
- Set a clear savings target – Understanding how much deposit you may need can make it easier to create a realistic savings plan.
- Consider a Lifetime ISA – This allows eligible buyers to receive a government bonus on savings used to purchase a first home.
- Review monthly spending – Reducing unnecessary expenses can help build savings faster.
- Ask about family support options – Some buyers receive help through gifted deposits from family members.
How a Mortgage Broker can help
Saving your deposit is only part of the home-buying journey. You will also need to understand:
- How much you can borrow
- Which lenders suit your circumstances
- What documents are required for your application
- How the mortgage process works
A whole-of-market mortgage broker compares lenders across the market and helps guide you through each step.
At Expert Financial, advisers support buyers across Cambridge and the surrounding areas.
If you’re planning ahead, you may also want to read more about remortgage options and mortgage protection insurance.
Speak to a Cambridge Mortgage Adviser
If you’re planning to buy your first home and want to understand how much deposit you may need, speaking with a mortgage adviser can help you explore your options.
Our team of friendly experts here at Expert Financial Ltd, provide mortgage advice to buyers across Cambridge and the surrounding areas.
We can help you:
- Understand your borrowing potential
- Compare mortgage deals
- Prepare for your mortgage application
- Plan the next steps in your home-buying journey
Frequently asked questions
Read through the Frequently Asked Questions we get below:
Can I buy a house in Cambridge with a 5% deposit?
Yes, some lenders offer mortgages with deposits from 5% of the property value, although the range of deals available may be smaller than with larger deposits.
What deposit do first-time buyers usually need?
Many first-time buyers purchase with deposits between 5% and 10%, depending on their savings and the lender’s criteria.
Is a bigger deposit better for a mortgage?
A larger deposit can sometimes provide access to better mortgage rates and a wider range of lenders, potentially reducing monthly repayments.
