The 35-Year Deposit: How First Time Buyers can Get Out Faster

A third of UK renters save £100 or less per month towards a home. At that rate, today's typical deposit takes about 35 years to reach. And the goalposts keep moving as house prices climb. The maths is simple. It's also brutal.

• Halifax puts the typical 2024 deposit at £61,090. At £100 a month, that takes over 50 years.
• Connells puts the average first-time buyer deposit at £41,403. The average home purchase price is £243,883. Save £100 a month, and you'll clear that deposit in 34 years.

That assumes house prices stand perfectly still. They won't.

73% of renters feel "locked out" of the market. 32% spend 40–60% or more of their salary on rent.

82% of renters agree on one thing. If they can afford their rent, they can afford a mortgage.

Lenders are slowly catching on. Mortgage Advisers have tools like Skipton's Track Record Mortgage does exactly that. It's a 100% loan-to-value deal. That means no deposit. Your 12 months of rent payments stand in for one.

It isn't the only route mortgage advisers can offer. But it directly answers the deposit question for many.

House prices should rise only modestly in 2026. Forecasts put growth at around 1.5% to 4%. Wages are growing faster.

First-time buyers are now the single largest group of buyers. They make up about 39% of sales. Mortgage rates have eased from their peaks. Affordability is slowly improving.

The 35-year figure is a wake-up call, not a sentence. Most first-time buyers get there far sooner. They combine savings, a partner's income, or family help. Schemes like Track Record, Shared Ownership, and the Lifetime ISA open doors too.

Start Saving, Start Cutting Costs, Start talking to a Mortgage Adviser.

Source:

• https://www.mortgagestrategy.co.uk/news/a-third-of-renters-face-35-year-slog-to-get-on-the-ladder-says-connells/
• https://www.scotsman.com/read-this/a-third-of-renters-are-facing-a-35-year-slog-to-get-on-the-property-ladder-8758018
• https://www.lloydsbankinggroup.com/media/press-releases/2025/halifax-2025/first-time-buyer-market-rebounds.html
• https://www.zoopla.co.uk/press/releases/first-time-buyers-help-drive-the-most-home-moves-for-three-years-zoopla/