What the sector need to do differently to give first time buyers a chance
By Peter Hawley, Director, SOWN (part of LRG)
The mortgage and property sector needs to stop assuming that younger buyers are either ready to buy outright or not ready at all. For many, the reality is somewhere in between. They may have stable employment, a deposit and a strong desire to own, but still find that house prices, rents and mortgage affordability make the traditional route onto the ladder unrealistic.
That is why the sector needs to give much clearer, earlier advice on alternative routes into homeownership. Shared Ownership is a good example. It can provide a practical bridge between renting and full ownership, but it is still poorly understood. Too many potential buyers assume it is only for people on very low incomes, that they can never own outright or that selling later will be difficult. Those misconceptions prevent people from exploring an option that may suit them.
Brokers, advisers, lenders, developers and housing providers all have a role in improving awareness. Younger buyers want clarity, transparency and realistic guidance, not jargon or over-simplified marketing. The sector should explain the full range of options, including costs, risks, eligibility and long-term implications.
Supporting younger generations means recognising that the first step onto the ladder may now be more gradual than before, but that does not make it less worthwhile.
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Breaking Property News 28/10/26