Buying your first home is an exciting time, but it’s also one of the biggest financial commitments you’ll ever make. With mortgage rates continually changing, living costs rising and a range of support schemes available, it’s understandable if you’re not quite sure where to start.
The good news is that getting onto the property ladder in 2026 is still achievable, as long as you take the right preparation. It’s also worth mentioning that in England and Northern Ireland, first-time buyers do not have to pay stamp duty on properties up to £300k.
In this article, we take a closer look at the steps you should take to help get on the property ladder in 2026. Beginning with understanding the budget you have to buy your first property.
Understand what you can afford
Before you start your property search, it’s important to work out exactly what you can afford. As well as saving for a deposit, you’ll need to factor in additional costs such as solicitor fees, surveys, mortgage arrangement fees and moving expenses. Having a clear picture of your finances from the outset will help you avoid disappointment later.
Many first-time buyers also choose to secure a Mortgage in Principle before beginning their search. This gives you an indication of how much you may be able to borrow and shows sellers that you’re a serious buyer.
Get mortgage-ready
Preparing for a mortgage application can improve your chances of approval and may even help you access better deals. Before applying, it’s worth taking a few simple steps:
- Check your credit report and make sure the information is accurate
- Pay bills on time and avoid missed payments
- Reduce any outstanding debts where possible
- Avoid taking out new credit shortly before applying
Speaking to an independent mortgage adviser can also help you understand which products may be suitable for your circumstances.
Explore first-time buyer support
There are still several schemes available that could help make buying your first home more affordable. Some of the most popular options include:
- Lifetime ISAs
- Shared Ownership
- First Homes schemes
- Low-deposit mortgage products
The schemes available to you will depend on your circumstances, so it’s worth researching your options before making any decisions.
Start your property search
Think carefully about what you’re looking for in a property. Consider factors such as location, transport links, local amenities and future plans. While it’s helpful to have a wish list, it’s important to keep an open mind, as it can open up more properties for you.
Try to view several properties before making a decision. This will give you a better understanding of what’s available within your budget and help you decide which features matter the most to you.
Making an offer
When you’ve found the right property, you’ll need to submit an offer through the estate agent. If your offer is accepted, the legal process begins.
Your solicitor will carry out searches, your lender will arrange a valuation, and contracts will be prepared for exchange. Although this stage can take several weeks, staying organised and responding quickly to requests can help keep everything moving smoothly.
Ready to take your first step onto the property ladder?
The team at Shortland Horne is here to help. Whether you’re looking for advice, arranging viewings or searching for your ideal first home, get in touch with our experienced team today.