# How long does it take to save a deposit where you live? > Saving £400 a month from scratch, a first-time buyer in the North East could have a 10% deposit plus tax and fees in about 2.9 years with a Lifetime ISA. In London it would take 11.0 years, and the average first-time buyer home there costs too much for a Lifetime ISA. Research · Starterly research · Published 2026-10-23 · Updated 2026-10-23 · https://starterly.co.uk/articles/how-long-to-save-a-deposit-by-region - 2.9 years: North East, the quickest, with a Lifetime ISA - 11.0 years: London, the longest, where a Lifetime ISA can't be used - £473,051: London's average first-time buyer price, over the £450,000 Lifetime ISA limit ## What a deposit costs in each region We took the average price first-time buyers paid in each part of Great Britain in August 2026, from HM Land Registry, and worked out the cash you'd need on day one: a 10% deposit, any Stamp Duty, LBTT or LTT at first-time buyer rates, and the usual fees for a solicitor, survey and mortgage. Then we worked out how long it takes to save that, starting from nothing, putting away £400 a month at 2.5% interest, with prices staying where they are. Cash for a 10% deposit, tax and fees, and how long it takes to save at £400 a month | Region | Average first-time buyer price | Cash needed | Normal savings | With a Lifetime ISA | | --- | --- | --- | --- | --- | | North East | £145,026 | £17,483 | 3.5 years | 2.9 years | | Scotland | £162,166 | £19,267 | 3.8 years | 3.3 years | | Yorkshire and the Humber | £181,305 | £21,251 | 4.3 years | 3.5 years | | Wales | £186,313 | £21,781 | 4.3 years | 3.6 years | | North West | £191,727 | £22,343 | 4.4 years | 3.7 years | | East Midlands | £206,771 | £23,907 | 4.8 years | 3.9 years | | West Midlands | £213,012 | £24,551 | 4.8 years | 4.1 years | | South West | £250,662 | £28,476 | 5.6 years | 4.7 years | | East of England | £278,459 | £31,366 | 6.1 years | 5.1 years | | South East | £300,015 | £33,602 | 6.5 years | 5.4 years | | London | £473,051 | £60,247 | 11.0 years | Not allowed | Source: HM Land Registry UK House Price Index, average price paid by first-time buyers, August 2026. Cash needed and time to save worked out by Starterly. Years to save from nothing at £400 a month, using a Lifetime ISA where it's allowed - North East: 2.9 years - Scotland: 3.3 years - Yorkshire and the Humber: 3.5 years - Wales: 3.6 years - North West: 3.7 years - East Midlands: 3.9 years - West Midlands: 4.1 years - South West: 4.7 years - East of England: 5.1 years - South East: 5.4 years - London: 11.0 years Source: HM Land Registry UK House Price Index, average price paid by first-time buyers, August 2026, worked through Starterly's saving timeline. London is highlighted because it's over the Lifetime ISA limit. ## Why the Lifetime ISA matters, and where it stops The government adds 25% to the first £4,000 you pay into a Lifetime ISA each year, up to £1,000 a year. In most regions that takes months off the wait. But it only works on homes costing £450,000 or less, a limit that hasn't changed since it started in 2017. London's average first-time buyer price is now £23,051 over it. **The new first-time buyer ISA.** The government plans to replace the Lifetime ISA with a simpler first-time buyer ISA. Its bonus, yearly limit and price limit haven't been announced yet. We'll update this page when they are. ## What changes the answer for you - Saving more each month makes the biggest difference. Try your own amount in the saving timeline. - A gift from family counts straight away. Lenders usually want a letter saying it doesn't need paying back. - Buying with someone splits the cost. Two people saving the same amount get there in about half the time. - A 5% deposit means saving a lot less before you can buy, but the mortgage rate is usually higher. - Prices move while you save. They rose fastest in the North East and Wales in the year to August 2026, and fell in London and the South East. [See your own saving timeline](https://starterly.co.uk/guide#ways-to-save): Put in your savings and what you can put away each month, and see when you could be ready. ## How we worked it out Prices are HM Land Registry's average for first-time buyers, which is a typical price, not the price of any one home. Cash needed uses Starterly's own fee estimates, the same as our [costs calculator](https://starterly.co.uk/costs), and tax at first-time buyer rates for England, Scotland or Wales. Saving assumes starting from nothing, putting away £400 a month at 2.5% interest, with prices staying where they are, all of it going into a Lifetime ISA up to its yearly limit, and the 12 month wait before a new one can be used. You have to open a Lifetime ISA before you turn 40. Northern Ireland isn't included because the index doesn't give a first-time buyer price for it. It's a guide, not a promise: a lender will also look at your income, spending and credit history. Sources: - [HM Land Registry: UK House Price Index, August 2026](https://www.gov.uk/government/news/uk-house-price-index-for-august-2026) - [HM Land Registry: UK HPI open data](https://landregistry.data.gov.uk/app/ukhpi) - [GOV.UK: Lifetime ISA](https://www.gov.uk/lifetime-isa) Contains HM Land Registry data © Crown copyright and database right 2026. This data is licensed under the Open Government Licence v3.0. ## Questions people ask ### How long does it take to save for a house deposit in the UK? It depends a lot on where you buy. Saving £400 a month from nothing, a 10% deposit plus tax and fees on an average first-time buyer home takes about 2.9 years in the North East with a Lifetime ISA, and 11.0 years in London. ### Can I use a Lifetime ISA in London? Only on a home costing £450,000 or less. The average first-time buyer in London paid £473,051 in August 2026, so many London homes are over the limit, though smaller flats can still be under it. --- © 2026 Marc Alexander, Metric Owl Limited. All rights reserved. You may quote short passages to answer a question, with a link to https://starterly.co.uk/articles/how-long-to-save-a-deposit-by-region.