First time buyers can benefit from special deals where the minimum required deposit is lower. As a rough guide you should try to get at least 5% of the value of the home you intend to buy.

For example, if the property you seek to purchase is £200,000 then you should look to save at least £10,000 to go towards the deposit.

The higher your deposit, the better mortgage deals will become available so it may pay to save more and access these deals.