House Prices in Leeds

The latest figures, updated in November 2025, show the average property price in Leeds at around £246,000. First time buyers in Leeds typically pay less, with the average purchase sitting near £215,000. This reflects a pattern seen across West Yorkshire, where deposit levels remain broadly consistent between Leeds and surrounding towns.

As a mortgage broker in Leeds, we regularly speak to first time buyers who are combining their own savings with financial support from family. This is known as a gifted deposit, and it can make a meaningful difference when you are trying to meet lender criteria or strengthen your position before making an offer. Even a small increase in your deposit can influence the range of mortgage products available, particularly in areas of Leeds where competition for properties is high.

Average Deposit Amount

Your deposit depends on how much you have saved and the type of mortgage you are applying for. Using the average first time buyer price of £215,000 in Leeds, a 5% deposit is around £10,750. Increasing this to 10% brings the figure to roughly £21,500, while a 15% deposit comes to £32,250.

Some lenders will accept a 5% deposit, although contributing more can widen the choice of available mortgage products and may help reduce your monthly repayments. Many first time buyers in Leeds still secure a home with a smaller deposit, particularly when supported by a reliable income and a positive credit history.

Average Loan to Value (LTV)

Loan-to-value (LTV) is the percentage of the property price covered by your mortgage, with the remainder forming your deposit. For example, if you are buying a £215,000 property with a £21,500 deposit, you would be borrowing £193,500, resulting in a 90% LTV.

Most first time buyers we assist in Leeds fall between 85% and 95% LTV, depending on the size of their deposit and whether any family contribution is involved. Mortgages at 95% LTV remain widely available for those with a steady income and a clean credit profile, while moving down to 90% or 85% can often help secure more competitive interest rates.

Lowering your LTV, even slightly, can open the door to a wider range of deals. Adding a little more to your deposit can sometimes shift you into a more favourable bracket, which may improve the type of products available to you.

How much can I borrow?

Your borrowing capacity is based on more than just your deposit. Lenders will look closely at your income, regular outgoings and credit history, and each one uses its own affordability model. This means the amount offered can vary, particularly if you are self-employed, working across multiple roles, or earning additional income from commission or bonuses.

As a mortgage broker in Leeds, we work with a wide range of lenders, each with its own approach to affordability and lending limits. If you are preparing to buy your first home in Leeds, speaking to a mortgage advisor can give you a clearer understanding of what you may be able to borrow based on your circumstances.

Date Last Edited: November 26, 2025