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Making your first step onto the property ladder

Oct 01, 2025
Starting the home buying journey is an exciting but often overwhelming process for many first time buyers. From saving for a deposit, to understanding what mortgage you qualify for, there’s a lot to think about before you make your first move.  
Our Step on the Ladder Campaign is all about educating people about the home buying process, demystifying the journey and highlighting some of the many schemes that could help would-be buyers take that vital step sooner than they think.

 

The campaign follows surprising research that we recently commissioned, which found that one of the biggest obstacles in the way of young people buying their first home was not lack of cash, but lack of clarity.

Nearly 30% of Gen Z aspiring buyers put their lack of understanding about the home buying process right at the top of their difficulties list, ranking higher than qualifying for a mortgage or even saving for a deposit. 

 

While four out of 10 Gen Z and Millennial buyers admitted that they felt that not owning a home was holding them back in life, there was genuine confusion about how to put that right.

For example, 36% said they had no idea of how to work out Stamp Duty charges, and among the younger Gen Z interviewees, 25% confessed that they were simply too overwhelmed at the prospect of buying a home to even know where to start.

 

This is where our Step on the Ladder Campaign comes to the rescue, with straightforward, easy-to-follow advice and suggestions and step-by-step guidance to cut through the confusion.

 
Iona Bain, Personal Finance Expert and broadcaster, launched the pioneering Young Money Blog in 2011 and quickly became the UK’s leading voice on millennial finance .
 
Iona bought her first home in 2021 after years of saving and is supporting our Step on the Ladder Campaign to help more aspiring buyers understand their finances.


Iona's top five tips for aspiring buyers:

 

1. Do your homework. What areas are affordable but promising? Brush up on postcodes that are slightly under the radar with decent transport links, access to some local shops and (ideally) a little bit of green space within walking distance.

 

2. Once you have somewhere in mind, work out how much you will be able to borrow and how much you will need to save overall.

There are plenty of calculators online that can help you do the sums. Bear in mind the numbers may change over time so keep an eye on the market and be prepared to flex if need be.

 

3. Once you have a rough target for a deposit, break down how much you'll need to save per month to achieve it in a reasonable time.

Devise a budget that will allow you to save a reasonable fixed percentage each month towards your goal. Set up a standing order so you don't have to remember to save the money - it just happens automatically.

 

4. Use the Lifetime ISA to get up to £1000 a year free towards your first home. Bear in mind it must ultimately cost less than £450,000, and you will pay a penalty if you access the cash any sooner. 

 

5. You can speak to a mortgage broker at any time to get a good understanding of what your options are. Often this won't cost you a penny and could save you a lot of time and guesswork in the long run. 
 
Then, when you feel ready to put your best foot forward, we’d suggest you have a good look around at some of the incentives that you might qualify for.
For example:

Lifetime ISA (LISA) 

This Government scheme allows first time buyers to save up to £4,000 a year in a LISA as part of the overall £20,000 ISA allowance. You receive a free 25% bonus, up to £1,000 each year, as well as tax-free interest.

The money can only be used to buy a first home costing less than £450,000, or saved until retirement – if you do have to take it out for any other reason you will pay a penalty. 

 

Own New – Rate Reducer 

This scheme is backed by developers like Barratt London and is available for first time buyers and home-movers. When you choose a suitable property, we will agree to contribute 3% or 5% of the purchase price, which goes to the mortgage lender to reduce the mortgage interest rate by up to 2.52*.

This will make your mortgage payments much more affordable for an initial fixed term of up to five years.

 

Key Worker Deposit Contribution 

As a thank you for the support provided to our communities, we are offering key workers, such as NHS staff, emergency services and teachers, a contribution towards your deposit.

With the scheme, for every £20,000 spent on the purchase price of a new home, we will contribute £1,000 towards your deposit - up to £25,000.

 

Deposit Unlock

Deposit Unlock is a collaboration between lenders and housebuilders that enables first time buyers and existing homeowners to purchase a new-build home with a 5% deposit.

While ordinary 95% mortgages can be costly, this scheme allows customers to access a low deposit mortgage at competitive interest rates, making your mortgage repayments lower.

 

Deposit Boost

This scheme is also available to both first-time buyers and existing homeowners. If you have already saved up a 5% deposit, Barratt London could boost it by funding up to an additional 5% of the sale price, giving you 10% deposit in total.

This means you need to borrow less from a lender and could end up with a better mortgage rate as a result.

 

April Mortgages

Working collaboratively with April Mortgages, a New Build mortgage has been unveiled, offering up to a 90% Loan-to-Value ratio on both houses and flats.

The mortgage also will lend up to 6x your income, helping more people access the homes they want, with the confidence they need.

 

 

So, what are you waiting for?

Even the longest journey begins with a single step, so Step on the Ladder – home ownership might be closer than you think. 


To start your search browse our new homes for sale in London and explore our homebuying offers to help you move. Call our Sales Advisers today to learn more.


*Example assumes a 5% homebuilder incentive and is based on mortgage rates available in the market, with a 2 year initial period and an LTV of 75%. Savings made in the initial fixed period. Independent financial advice must be sought from a regulated mortgage broker to access this scheme. Your home may be repossessed if you do not keep up your mortgage repayments. Rates valid as of 30-09-2025. Click here for full terms and conditions.


Research carried out among 2,414 UK adults, with minimum 1,000 not on the property ladder (18+), between 28 August 2025 and 2 September 2025.

 

 

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