Is It Really Impossible to Buy Your First Home? Not Quite.

There is no surprise so many think will I ever be able to buy a house when there is so much negative portrayed in the media.

“You’ll never be able to afford to buy your own home.” has been mutter more time than we care to remember, and after catching the latest episode of Steven Bartlett’s Diary of a CEO with Gary Stephenson and Daniel Priestly as guests if I didn’t work in the industry, I’d somewhat feel defeated that homeownership will never be achievable for the average person.

There is no doubt conditions of getting on the ladder are getting harder.. Between house prices that resemble phone numbers and wages that… well, don’t, it’s no wonder that homeownership feels like a distant dream. But before we all pack it in and commit to a lifetime of renting with flatmates named “Mould” and “Broken Boiler,” let’s pause for a second.

Because if you do dream of buying a home—your own slice of British soil—the reality may not be as bleak as it first seems.

Will I Ever Be Able To Buy a House: A Quick Reality Check

Yes, it’s tough. The average first-time buyer is now in their mid-30s, and over the last decade, property prices have sprinted ahead while wages have gently limped behind, muttering, “Wait up!”

According to the Land Registry, the average UK house price is around £268,000. Meanwhile, the average income for someone aged 22–29 is just over £32,000. So on your own, it might feel tight. But if you’re buying with a partner or close friend? Suddenly you’re working with a combined income of over £64,000.

That means a 5% deposit on the average property (about £13.4k) split between two people becomes more realistic—especially if you’re lucky enough to live at home and save aggressively. No avocado toast sacrifices required.

House Prices Vary. So Can You.

Still thinking, “Where I live, that number won’t even buy me a shed”? Fair enough. London, parts of the South East, and pretty much anywhere with a Pret on every corner will blow that average right out of the water.

But here’s the post-Covid silver lining: remote working. It’s never been more possible to work in London and live in Leeds. Or Plymouth. Or a quiet village where house prices don’t require a six-figure salary and a small miracle.

Flexibility in where you buy could be the difference between renting indefinitely and owning your first home.

Solutions For Buying a Home: Affordability Solutions That Work

1. Enhanced Borrowing: 6x Income Mortgages

Traditionally, lenders would let you borrow around 4.5 times your annual income. But some are now stretching that to potentially 6x income, particularly if you’re locking in for a longer-term fixed rate (think 5 to 10 years). Lenders like Nationwide and Halifax have dipped their toes into this generous territory, often with criteria like good credit and a clean financial slate.

It’s a game-changer for buying a home and will support people with strong earnings but not much in the way of savings or family support.

2. Joint Borrower, Sole Proprietor Mortgages

Now here’s a clever one. Lenders like Barclays, Skipton, and Generation Home offer something called Joint Borrower, Sole Proprietor (JBSP) mortgages.

Translation? Mum or Dad (or even a friend) can help boost your borrowing power with their income—but only your name goes on the deeds. That means you:

• Get a higher loan amount,
• Avoid extra stamp duty charges for second-home buyers,
• Keep your proud independence as the sole homeowner.

Of course, this kind of financial tag-team means they’re still on the hook for the mortgage if you can’t pay—so best keep your Netflix bill paid and your laundry out of their house for now.

The Great Deposit Struggle

When buying a home saving a deposit is where many first-timers get stuck. Rent, bills, inflation, and the occasional cheeky Deliveroo can drain your savings faster than you can say “Help to Buy.”

3. Lifetime ISA: The Government’s 25% Boost

If you’re aged 18–39, you could be eligible for a Lifetime ISA (LISA). Here’s how it works:

• You can save up to £4,000 a year, and the government adds 25%—up to £1,000 a year—towards buying a home.
• You must use it for a property worth up to £450,000.
• The account must be open for at least 12 months before buying.

That’s essentially free money, folks. Not using it is like walking past a fiver on the pavement and deciding it’s too much effort to bend down.

4. Low Deposit Schemes: Less Saving, More Buying

If even a 5% deposit feels like Everest, lenders like Accord Mortgages and Skipton Building Society offer options for buyers with limited savings:

• Accord’s £5,000 Minimum Deposit scheme allows buyers to enter the market with just five grand—ideal if you’re earning well but struggling to save.
• Skipton’s Track Record Mortgage allows zero deposit for renters who can prove 12 months of consistent payments. Basically, if you’ve been renting reliably, you’ve already proved you can handle a mortgage.

Let that rent history work for you, for once.

5. Shared Ownership: A Slice of the Pie

When buying a home Shared Ownership schemes let you buy a share of a property (usually 25–75%) and rent the rest from a housing association. That means:

• Lower deposits (because you’re only buying a portion),
• Lower income thresholds,
• And a foot firmly planted on the property ladder.

You can “staircase” up over time, buying more of the property when your financial situation improves.

It’s not perfect—you’ll still have rent and maintenance costs—but for many, it’s a stepping stone to full homeownership.

Final Thoughts: Don’t Let the Gloom Win

Sure, headlines love to scream “Homeownership Is Dead!” but if you dig a little deeper, there’s still life in the housing market for first-time buyers. It just takes strategy, patience, and possibly a spreadsheet or two.

If all you do is listen to someone shouting that buying is impossible, you’ll probably start to believe them. But by exploring the options—whether that’s enhanced borrowing, JBSP mortgages, LISAs, or low-deposit schemes—you can turn the impossible into the achievable.

So keep saving, keep researching, and most importantly: don’t let the Garys of the world get you down.

Still wondering will I ever be able to buy a house? Our Team of advisers are here to assist you, to book your initial consultation click here.