Tool
Deposit savings planner
The deposit is the biggest hurdle for most first-time buyers. This planner shows how long it would take to reach the deposit you want, from what you've saved and what you can put away each month.
It also shows what a Lifetime ISA could add. If you qualify, the government tops up what you save by 25%, which can bring your purchase date forward by months.
Time to a £30,000 deposit with a Lifetime ISA
3 years 9 months
A Lifetime ISA adds a 25% government bonus on up to £4,000 a year you save, and it's for people aged 18 to 39 buying a home costing up to £450,000. Money must be in it for 12 months first, and withdrawing for anything else before 60 usually costs a 25% charge (20% for a first home above £450,000). From April 2029 the First Time Buyer ISA replaces it for new savers, with no upper age limit. Check the current rules on gov.uk.
Want the background? Read our guide: First-time buyer schemes.
How this calculator works
- Enter the price you're aiming for and the deposit percentage, and it works out your target.
- It then adds your monthly savings and interest, month by month, until the target is reached.
- For the Lifetime ISA case, your monthly saving goes into the ISA first, up to the £4,000 a year limit, and each pound gets a 25% bonus.
What it assumes
- A Lifetime ISA is for people aged 18 to 39 buying a home costing up to £450,000. The money must be in it for 12 months before you use it for a home.
- Withdrawing for anything else before age 60 usually costs a 25% charge. From 29 October 2026, buying a first home above £450,000 costs 20%, so you get back what you paid in.
- The Lifetime ISA closes to new savers in April 2029, when the First Time Buyer ISA replaces it. Accounts opened before then carry on under the current rules.
- Your interest rate is held steady, and the bonus is added with each payment. Check current rules on gov.uk.
General information, not financial advice. Speak to a mortgage adviser about your own situation.
Deposit savings planner: common questions
Short answers to the things people ask most.
How much does the Lifetime ISA add?
A 25% bonus on what you pay in, up to £1,000 a year on the £4,000 limit. Over a few years that can make a real difference to your deposit.
What deposit do I need?
Often 5% to 10% of the price, although a bigger deposit usually means a lower rate. Some developers also offer deposit contributions on selected homes.
Can I use it for a new build?
Yes, the Lifetime ISA can be used towards any qualifying home in the UK, new or old, as long as it costs £450,000 or less, you buy with a mortgage and you use a conveyancer.
What happens to the Lifetime ISA in 2029?
From 6 April 2029 the First Time Buyer ISA replaces it for new savers. It keeps the £4,000 a year limit and 25% bonus, with no upper age limit, so people over 40 can use it. A Lifetime ISA you open before then carries on under today's rules.
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