Recent reporting suggests conditions for First-Time Buyers (FTBs) have noticeably improved this January, with experts predicting FTBs will be a driving force in the 2026 housing market as affordability slowly rebounds and interest rate cuts begin to take effect.
Although the average 10% deposit still sits at around £23,000 - an amount that typically takes about six years to save, easing mortgage rates have made monthly repayments more manageable for many. In fact, monthly mortgage costs for new buyers have fallen to their lowest share of income since 2022, according to Halifax.
Lower borrowing costs are also a key part of this shift, with the average two-year fixed mortgage rate now down to the lowest level seen since 2022. At the same time, many lenders are offering high loan to value options, including 95–100% products, further reducing initial barriers and making it easier to get onto the ladder.
At Newbury Building Society, we have a range of options to give your clients the best chance of owning their dream first home.
Joint Borrower Sole Proprietor Mortgage
If you have clients who lack the financial history to prove they could fulfil their mortgage payments, or who just need a bit of extra borrowing power, a joint-borrower sole proprietor mortgage (JBSP) is a great stepping-stone to financial independence.
Many first-time buyers haven’t heard of JBSP, but it can be a useful arrangement that provides support until they are ready to fly solo and remove the joint-borrower from the arrangement. We also have plenty of experience in splitting mortgages by term, product, or repayment method to make things as flexible as possible.
Shared Ownership
We are a lender who understands the scheme in its entirety and can transparently weigh up the positives and negatives for your client. Shared Ownership is another route which can maximize the number and types of properties available, and with over 20 years of experience, we like to think of ourselves as somewhat of a ‘veteran’ in this market, with the ability to provide highly specialised advice and a range of products, as well as lending up to 95% of the share.
Bank of Mum and Dad
We don’t just say yes to the Bank of Mum and Dad, but also the Bank of Granny and Grandad! This kind of arrangement is growing in popularity, with many family members providing gifted deposits to help the aspiring homeowners in their family.
We can help your clients climb the property ladder with the help of a family member, whether via a gifted deposit, a joint-borrower sole proprietor mortgage as mentioned above, or even additional borrowing on the family home.