Finance · 5 min read

How Much Deposit for a £350,000 House in the UK?

On a £350,000 house in the UK, the minimum deposit is usually £17,500 (5%), while £35,000 (10%) or more typically unlocks meaningfully better mortgage rates.

Deposit amounts at each level

• 5% deposit: £17,500 — loan needed: £332,500
• 10% deposit: £35,000 — loan needed: £315,000
• 15% deposit: £52,500 — loan needed: £297,500
• 20% deposit: £70,000 — loan needed: £280,000

Model the exact monthly payment for each scenario with our mortgage calculator.

At this price, income multiples become the binding constraint

A £315,000 loan (10% deposit on £350,000) generally needs a household income in the region of £70,000–£79,000 under a typical 4–4.5× income multiple. At this price point, many buyers find their deposit is ready before their income comfortably supports the loan — worth checking an agreement in principle early to confirm your actual borrowing limit before house hunting seriously.

Household vs single income at £350,000

Two applicants combining incomes can typically borrow substantially more than one applicant alone, since most lenders apply the income multiple to combined household income. A single buyer earning £75,000 and a couple earning £45,000 each (£90,000 combined) can end up with meaningfully different borrowing power at this price, even though the couple's individual salaries are each lower — joint applications are the norm at this price band for exactly this reason.

What each deposit level means for your monthly payment

A £332,500 loan (5% deposit) carries a substantially higher monthly payment than a £280,000 loan (20% deposit) — the gap is larger in absolute terms at this price than at lower price points, since both the rate improvement and the reduced loan amount compound together. Use the mortgage calculator to see the exact figures for your scenario.

Costs beyond the deposit at £350,000

Budget for stamp duty (check current thresholds on gov.uk, as £350,000 is highly likely to attract some SDLT depending on buyer status), solicitor and survey fees, and mortgage arrangement fees — together these can add several thousand pounds on top of the deposit itself, and are easy to underestimate when focused purely on saving the deposit figure.

Recap

£17,500 (5%) is the practical minimum for a £350,000 house, but £35,000 (10%) unlocks better rates — and at this price, your income multiple is just as likely to be the limiting factor as your deposit size. See the full deposit strategy in our UK house deposit guide, and model your own numbers with the mortgage calculator.

Frequently asked questions