How to Get on the Property Ladder
The deposit gets the attention, but affordability, credit history and the cost of buying decide whether a purchase actually completes.
Deposit and savings
Five per cent opens the market, ten per cent improves the rate meaningfully. A Lifetime ISA adds a 25 per cent government bonus on qualifying purchases.
Affordability
Lenders typically work to four and a half times income and stress test at a higher rate. Clearing car finance often raises your borrowing more than another year of saving.
Shared ownership and guarantors
Shared ownership lowers the entry point but carries rent and service charges on the retained share. Family guarantor products suit buyers with strong income and no deposit.
Budget beyond the deposit
Solicitor fees, survey, stamp duty where applicable, removals and the first month of furnishing. Two to three thousand pounds is a realistic allowance for a first flat.
Planning a move?
BlueSky Removals gives fixed written prices after a free video or home survey. Call 0800 090 3125 or request a quote online.