This week on Property Matters, Gareth Wax and Hamish McLay will be joined by mortgage broker Charlie McKew to discuss how things are looking for first-time buyers in 2026, and perhaps more importantly, what help is actually available.
It is easy to become discouraged when reading headlines about rising house prices, affordability challenges and large deposit requirements. Many aspiring buyers are looking at figures that would have seemed unimaginable a generation ago. In some parts of the country, saving a deposit can feel like a full-time job in itself.
At the same time, there are signs that the picture is not quite as bleak as some headlines suggest.
Mortgage lenders have been competing more actively for first-time buyer business, and there are now more low-deposit mortgage products available than there have been for several years. Some lenders are even offering products requiring deposits of just a few per cent, opening doors that may have seemed firmly closed not long ago.
What is becoming increasingly clear is that knowledge can be just as important as money.
Many people assume they cannot afford to buy without ever speaking to a mortgage adviser. Others may not realise that there are government-backed schemes and savings products specifically designed to help people take their first steps onto the ladder.
The Lifetime ISA continues to offer valuable support, allowing eligible savers to receive a government bonus towards their first home purchase. Shared Ownership remains available for buyers who may struggle to purchase outright, while schemes such as First Homes provide discounts on selected new-build properties for qualifying purchasers.
Of course, these schemes are not suitable for everyone. Like any property decision, understanding the advantages and limitations is important. This is where professional advice can make a real difference.
Charlie will be helping us understand what lenders are looking for, what mistakes first-time buyers commonly make, and whether today's lending market is offering more opportunities than many people realise.
It will also be interesting to consider how first-time buyers themselves are changing.
Previous generations often expected to buy their forever home after just one or two moves. Today's buyers are frequently taking a more flexible approach. Smaller properties, different locations, shared ownership arrangements and stepping-stone purchases are becoming increasingly common as people look for practical ways to begin building equity.
There is also growing discussion around potential regulatory changes that could make mortgage borrowing more accessible for some groups, including self-employed applicants and those with less conventional income patterns. Whether those changes arrive, and what impact they may have, remains to be seen.
One thing that often gets overlooked is that first-time buyers are still entering the market every day. Despite the challenges, thousands of people continue to secure mortgages, purchase homes and begin their property-owning journey.
Perhaps the real question is not whether it is difficult to buy a first home. Most would agree that it is.
The more interesting discussion may be whether some people are ruling themselves out before exploring the options available to them.
Join Gareth Wax, Hamish McLay and mortgage broker Charlie McKew as we discuss the realities facing first-time buyers today, the support that exists, and whether the dream of home ownership remains within reach for the next generation.
Property Matters airs live at 1pm on Tuesday.
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