First-time buyer deposits average £69,523 so far in 2026, but the typical share of the price falls to 20.7%

Mortgage applications handled by broker L&C between January and August 2026 show first-time buyers put down an average deposit of £69,523 against an average purchase price of £305,000, according to figures reported on 24 September. Buyers typically contributed 20.7% of the property's value, down from more than 24% in 2023, as lenders have widened the range of deals for borrowers with smaller deposits. For first-time buyers, a smaller percentage deposit is more workable than it was two years ago, but the cash sum is still large: L&C estimates it would take around 16 and a half years to save a typical deposit at £250 a month earning 4%. The figures cover one broker's clients rather than the whole market, and smaller-deposit borrowing usually comes at higher rates.