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With it being so difficult to get on the property ladder, it is good to know the various ways you can get a leg-up onto the ladder, making things just that little bit easier.

If you are a first time buyer, there are a range of things you can do – if resourceful and determined – to become a proud homeowner.

You have more options than saving for years to amass a deposit all by yourself!

Sure, you should look at yourself first when looking to raise the deposit to buy your home.

But you will find the process easier and quicker if you can identify and use one or more of the “leg-up opportunities” available elsewhere.

Not all the possibilities will be appropriate for everyone, but you should identify those that are applicable to you.   

1. Dose up on information

Improving your knowledge of the process of buying as a first time buyer is probably the most basic thing you can do. Information is wealth, and the more of it you take in, the richer you will be.

Take the time to study the whole process of buying a property. Read books and blogs, listen to podcasts and talk to friends and family about how they became home owners. 

Make sure you are familiar with the many different ways you can become a home owner, delving into non-standard purchases such as right to buy, right to acquire and shared ownership. 


2. Tap into advisers, professionals and experts

Speak to people in the know to fill the gaps in your knowledge. On the money front, you could speak to lenders and mortgage advisers to find out things like:

  • Different types of mortgages and their pros and cons
  • How much you can borrow given your earnings
  • What deposit you will need
  • Issues with your credit record which need prior attention.

Cut spending – grow deposit (raise a deposit fast by cutting your spending)
Boost income – grow deposit (raise a deposit fast by increasing your income)
Buy a property with a property (12 ways to raise a deposit using a property)

3. Parental assistance

If you are lucky enough to have parents who can help you, the “Bank of Mum & Dad” is going to be a rich vein for you to mine.

If they have equity in their home or other property, parents can stump up all or part of your deposit by:

  • Selling a property
  • Remortgaging
  • Taking out a second charge
  • Taking out a further advance
  • Releasing equity by an equity release scheme.

Your parents may have other available capital assets such as:

  • Pensions
  • Savings
  • Shares
  • Business assets.


4. Grandparents to the rescue

If parents don’t have the money, or as an additional source of funds, you can turn to grandparents able to help you out.

There may be opportunity for a virtuous quid pro quo if you can provide required assistance or care to them in return for their financial help.

5. More distant relatives

With more distant relatives, your prospect of being helped financially is perhaps more dependent on what you can offer in return in terms of practical help and assistance, especially in the case of older or less physically capable relatives.

You may find more willing ears where the distant relatives have no immediate relatives.

6. Partners and friends

It is a bonus if you have a partner or friends with money to give or lend to you for your purchase.

But a partner or friend is going to be a great help if they are simply a  suitable co-owner for a co-ownership purchase. 

By buying a home with someone else, you can halve the burden at every level – deposit, mortgage and running costs.


7. Employer help

For many people, help from an employer is going to be a long shot but, depending on the circumstances, it is by no means an impossibility.

Employers wishing to retain good staff in areas where property is unaffordable are increasingly understanding that they can benefit by offering accommodation incentives to find and retain staff.

If appropriate, broach the subject with your employer – identifying possible options, such as a low interest loan.

Is getting a mortgage easy? (looks at the ins and outs of getting a mortgage)
5 must know mortgage facts (key features property owners must know)
Interest only or repayment? (pros and cons of the two main mortgage types)

8. Government help

There are a lot of votes in home ownership and there a several government initiatives aimed at helping first time buyers, including:

  • Right to buy
  • Right to acquire 
  • Help to Buy ISA
  • Help to Buy equity loan
  • Shared ownership
  • Stamp duty exemptions.

If you qualify, it is important to take advantage of these state freebies fast. They cost a lot of tax payers’ money and it is unlikely that all of them will be available in the long term. 

Help to Buy is set to end in 2023   


When looking at how you can become a home owner, it is right for you to focus first on the resources of yourself and any partner. 

However, you should not overlook the helping hand you can get from a range of third parties – from your parents to the government.

Once you understand the variety and extent of help you can get, you are going to feel much more confident about the task – and see that it is not exactly the near impossible hurdle it may seem at first glance.

Is there any prospect that you can get a leg-up onto the property ladder? If you got onto the property ladder thanks to a leg-up, what was it? Please leave your comments below.

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Dalton Barrett
Rebel Property Coach

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