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Online mortgages are provided by NatWest which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Royal Bank of Scotland may receive a fee based on a percentage of any mortgage entered into for this referral. NatWest and Royal Bank of Scotland mortgages are available to over 18s. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
How much will I need?
You'll need at least 5-10% of the overall price of the property to put down as a deposit.
Remember the bigger your deposit, the smaller your mortgage and the less interest you'll pay in the long term. A larger deposit could also help you get a better mortgage deal.
You could buy your new home with just a 5% deposit
With our range of 95% mortgages, you could be moving into your new home sooner than you imagined.
Exclusions & eligibility criteria apply. Find out about 95% mortgages.
6 simple deposit saving tips
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1
Set a savings goal
Use our tool to track your progress
Work out how much deposit you'll need and, if you have a Royal Bank of Scotland savings account and are registered for Digital Banking, use our savings goal tool to track your progress.
Our savings goal tool is available to existing customers with an instant access savings account. Mobile App criteria applies.
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2
Make saving as easy as spending
Let your bank do the hard work for you by rounding up your everyday spending to boost your savings. When you pay with your debit card, the amount will be rounded up to the nearest pound, sending the spare change straight into your savings account.
Save your spare change with Round Ups
Check out our very own Round Ups tool to find out how we can help you save for your new home. Available to customers with an eligible current account, an eligible instant access savings account and the Mobile App. Applies to debit card and contactless device payments in sterling only. Mobile App criteria applies.
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3
Cut back where you can
Are there any little luxuries you could cut back on to reach your goal quicker?
Remember to cancel unused gym memberships and consider cutting out the mid-week takeaway.
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4
Create a budget and stick to it
Take a close look at your spending
Our Spending feature within the app tells you everything you need to know, from categorising your spend to surfacing personalised insights. You can even set budgets to help keep you on track.
Spending Tracker is available to customers aged 16+ who have a Personal or Premier account with us. Mobile App criteria applies.
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5
Start saving
Standing orders can make it easy
Set up a standing order to transfer money to a savings account as soon as you've been paid. You can use one of our savings accounts to save for your deposit.
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06
Help from elsewhere
Perhaps you could move back home to save money on rent? A gifted deposit could also be a potential option to help, depending on your circumstances.
If that's not ideal you could consider buying a property with a friend or family member. There are also government-backed schemes designed to help first-time buyers. Find out more on our first time buyer guide.