Working from home has added up to 12% to first time buyers' deposits

  • First time buyers from Milton Keynes have saved 12% towards a deposit by not commuting during lockdown 

  • In contrast, first time buyers in Oxshott have only saved 1.32% of a deposit²

  • Chatham is the most affordable commuter hub for first time buyers within 45 minutes of London (£200,294)³

September 2020 – New research by online mortgage broker Trussle has found that first time buyers, who would normally commute to London, could have saved on average an extra £1,627.19 towards their housing deposit by working from home during the coronavirus pandemic⁴. Trussle’s research also revealed the locations where first time buyers have saved the most by ditching the daily commute, as well as the most affordable commuter hubs for those looking to buy near the capital.

For those who have been fortunate enough to continue their employment working from home, there have definitely been some financial advantages. Milton Keynes came out on top as the town where first time buyers have been able to add most towards their deposits. By working from home during April to August, commuters from Milton Keynes have saved £2,573 which equates to 12.14% of the deposit needed to purchase a two bedroom property of £211,946⁵. Other towns that offered top savings for first time buyers include Bedford (11.83%) and Didcot (10.96%).⁶ 

Trussle surveyed nearly 80 commuter locations within a 45 minute train journey from London. The broker looked at monthly season ticket prices, average 2 bedroom property prices, and the cost of a 10% deposit and the savings versus this.

Miles Robinson, Head of Mortgages at Trussle, comments: “We’re living in a time where many people’s finances have been impacted and household finances are stretched. Not only this, but the market is challenging for many first time buyers at the moment because of a lack of high loan-to-value products and the ever changing strict lending criteria. However, money saved by working from home could offer some consolation for those who are currently saving to step onto the property ladder. For some first time buyers, the savings from not taking their regular commute during lockdown could have added a boost to their deposits. Also, it’s likely they have saved on other costs like lunches in the city, which will have bolstered their deposits further.

Our research also revealed the commuter locations most affordable to first time buyers. With an average two bedroom property price of £200,294, Chatham came out on top, closely followed by Bedford (£201,807) and Tilbury (£209,444)⁷. At the other end of the scale, Oxshott is the most expensive location where an average two bedroom property will set first time buyers back £930,000⁸.”



For further information, please contact:

Jake Hervin at [email protected] or Leilah Mackie at [email protected] 


Trussle used Trainline to evaluate the monthly season ticket for trains to London.  Zoopla was also used to analyse the average price of a two bedroom property in commuter locations. These prices were collated on 20 of August 2020 as per data captured here.

1. Trussle research as of 20 August 2. Trussle research as of 20 August 3. Trussle research as of 20 August 4. Trussle research as of 20 August 5. Trussle research as of 20 August 6. Trussle research as of 20 August

7. Trussle research as of 20 August

8. Trussle research as of 20 August

About Trussle

Trussle helps people love their journey of owning a home. We’re the online mortgage broker helping you wherever you are on the ladder.

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In September 2016 Trussle launched an industry-first partnership with online property portal Zoopla, making it possible to find and buy a home in one seamless experience. Trussle is backed by some of Europe's leading technology investors including Orange Growth Capital, LocalGlobe, Ed Wray (founder of Betfair), Ian Hogarth (founder of Songkick), Seedcamp, and Zoopla Property Group.

Trussle is a trading style of Trussle Lab Ltd, which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.

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