How First-Time Buyers Are Adapting to Get on the Property Ladder

Getting a foot on the property ladder requires unprecedented creativity and determination from the UK’s next generation of homeowners.

A survey of 1,000 prospective buyers by mortgage broker Mojo reveals that nearly two-thirds (64%) of first-time buyers are relying on a “side hustle” – secondary income streams alongside their main job – to build their house deposit.

For most, these extra earnings are essential rather than optional:

• 50%+ of respondents estimated it would have taken them 2 to 3 years longer to buy without a side hustle.

• 72% estimated a delay of 2 to 5 years without secondary income.

• Younger buyers are leading the trend: Almost 72% of buyers aged 18–24 reported using a side hustle to fund their property goals – the highest proportion of any age group.

Financial Sacrifices and Unspoken Liabilities

The pressure to secure mortgage approval is also leading to hidden financial behaviours among prospective buyers.

According to the study, 25% of respondents admitted to concealing spending from a partner to present a stronger financial profile to lenders. Furthermore, 18.4% reported having undisclosed debts, such as personal loans or credit card balances, that their partner was unaware of.

The push for financial stability is affecting wider life decisions:

• Over 33% have stayed in rented accommodation longer than planned to save.

• More than 20% admitted to remaining in a toxic workplace simply to maintain steady income for mortgage underwriting.

Alternative Routes onto the Property Ladder

Faced with steep deposit requirements and stringent affordability testing, buyer attitudes toward ownership models are shifting away from traditional sole ownership.

Co-buying is becoming an increasingly popular strategy to boost borrowing capacity.

• Over 50% would consider buying a home with a friend or family member to improve their chances of approval.

• 18% would purchase a property with a close friend—a figure that rises to 22% among 18–24-year-olds.

• Conversely, generational differences remain stark: over 25% of buyers aged 45–54 stated they would only consider buying alone.

Getting onto the property ladder can feel challenging, particularly when saving for a deposit takes longer than expected. However, many first-time buyers are finding new ways to achieve their goal, whether that’s increasing their savings, exploring alternative buying options or carefully planning their finances.

Homeownership may not happen as quickly as some people hope, but with patience, preparation and realistic financial planning, it remains an achievable ambition for many aspiring buyers.