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28 May 2022

Tips for getting a foot on the property ladder

The past few years have been turbulent times for property in the UK.  A huge increase in prices leading up to 2007 was followed by a resounding crash, and now they are on the rise again (especially in London).   But the majority of people are not interested in trying to make their fortunes playing games with the vicissitudes of the market, they simply want a place which they can call home, and it’s not easy to make that first step onto the property ladder.  For most, the greatest stumbling block will be finding the money for the deposit (with 100% and 95% mortgages all but gone, that hefty lump sum can be hard to put together), but there are a number of other points which should be thought through properly to avoid frustration for first-time buyers.

Be realistic: it’s vital to be completely honest with yourself about how much you can afford.  Even if you think you can stretch to a certain amount, don’t forget that there will be extra expenses (conveyancing, stamp duty, etc.) all of which should be taken into account.  Also, if the house is new, it will need to be furnished.  Take care not to bite off more than you can chew.
Location: There are a number of issues surrounding the location of property which should be taken into account.  First, if you work as a freelancer, or have a job opportunity in an area where property is less expensive, it’s worth considering moving to another part of the country.  Other issues include council tax (which varies from council to council – make sure you’ve checked how much it is before deciding) and whether the property is in the catchment area for a good school (even if you do not have children, this could ensure a higher selling price if and when you want to move on).

Get the right mortgage: There is a whole range of options for mortgages out there and plenty of advice available for finding out which one is right for you, so take your time and do some research.  The Santander website not only provides details on a range of different mortgages, but also includes a step-by-step guide for first-time buyers, so this could be a good place to start.

Being a first-time property-owner can be daunting, but as long as you don’t rush in, and take the time to consider what’s affordable and what difficulties have to be dealt with, it needn’t be overwhelming.



Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

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We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500