Want to buy a house in your 20s? Here’s the unfiltered truth no one posts about

1. It’s rarely a one-person job

Whether it’s a gifted deposit, a family-boost mortgage or a generous auntie willing to be a guarantor, many buyers under the age of 30 have some form of help. In fact, almost two-fifths (37%) of UK first-time buyers received their deposit as a gift or loan from a friend or family member in 2022-23. While 1 in 10 (9%) first-time buyers relied on inheritance to fund their deposits. It’s just one of those things that people struggle to talk about. So from the outside, it seems like they’ve done it alone.

The good news is that although it’s common for first-time buyers to have family support, it’s not always essential. And you don’t have to figure it all out by yourself, especially if you work with a mortgage broker who’ll explore the full range of options for you.

One of those options is Shared Ownership, which lets you buy a share of a home (often as little as 25%) and pay rent on the rest. That means a smaller deposit, a smaller mortgage, and a much more affordable route into homeownership. You can buy more shares when you're ready, gradually working your way up to full ownership.

And if you’re in a stable, well-paid job like teaching, healthcare, law or the police, you might qualify for a ‘professional mortgage’, which can sometimes be worth 5.5 or 6x your income, compared to 4.5x your income, which is the amount offered by most lenders. This could help you buy with a smaller deposit or get your hands on a more suitable home.

At Tembo, we specialise in alternative ways to boost affordability - and we’ve helped thousands of buyers get on the ladder with support from family, friends or first-time buyer schemes.

Learn more: Buying a house on your own

2. It may not be their dream home

From the outside, those friends who bought in their 20s have managed to bag their dream home, but in reality, it might not have been their first choice. Behind the Instagram posts, there could be damp in the walls, a broken boiler or a lengthy commute. 

And the same thing could happen to you when you buy. Your first place might be a fixer-upper with ugly carpets or miles away from your ideal postcode, and that’s okay. Buying in your 20s often means making compromises, and using your first gaff as a stepping stone, not your forever home.

There is a fair share of first-time buyers end up remortgaging, renovating or moving again within a few years. Getting in early, even if it’s not perfect, can help you build equity faster and put you in a stronger position for your next move.

That said, if you’re keen to stay put for longer, it’s worth exploring ways to boost your budget. There are so many ways to increase your mortgage size, such as an Income Boost mortgage, Blue Light mortgage, or Shared Ownership, that you might be able to afford a more suitable home from the start.

3. Your rent payments don’t guarantee mortgage approval

We often hear from frustrated renters who’ve been told that they can’t afford a mortgage - even though their mortgage payments would be less than they’re paying in rent. 

You’d think that paying rent every month for several years would be proof that you’re in control financially, but most lenders will make their decision based on your income, credit history and overall affordability, rather than your rental history.

One lender that’s an exception to this trend is Skipton Building Society. Skipton’s Track Record Mortgage is designed for renters who’ve been paying on time for at least 12 months. And you don’t even need a deposit! 

4. It’s hard to keep up with rising property prices

Even if you’re great at saving, it’s tough to stay ahead of the market — especially when house prices have grown much faster than wages. In big cities, the gap can be even wider, and that’s before you factor in high rent and living costs eating into your spare cash.

That’s why saving alone often isn’t enough. To keep up, you’ll need to make the most of the tools and support available — like the Lifetime ISA, which adds a 25% bonus to your savings each year (up to £1,000), or first-time buyer schemes that reduce the size of deposit or mortgage you need.

5. Getting expert mortgage advice can make all the difference

Buying your first home isn’t always as simple as the picture-perfect stories you see on Instagram - in reality, it can involve complex challenges, especially if you don’t fit the “traditional” buyer profile. That’s where our award-winning team comes in.

We’re specialists in alternative routes to homeownership, from creative financing solutions to government schemes and lesser-known lender options, tailored to your unique circumstances. By understanding your full financial picture and navigating options most people never even hear about, we can help you unlock the door to your first home sooner than trying to figure it out alone - like with our customer Liam, who used a little-known scheme to make home happen.