NEW HOMES
FIVE PRACTICAL WAYS TO BOOST YOUR DEPOSIT
Weston Homes understands the challenges buyers face when purchasing their first cherished home, with the most significant step being the deposit. While the process can feel daunting, there are plenty of ways to boost your savings and reach your goal faster than you might think. Remember, you can buy a home with a 5% deposit so it’s often very achievable once you get going. Buyer Readers’ Awards and Housebuilder of the Year at the WhatHouse? Awards,Weston Homes builds luxurious new and converted homes across London and the South East. The incredible specification includes everything you’d expect and a lot more that you wouldn’t! Voted Private Developer of the Year at the First Time
Caroline and daughter Emily, relaxing in Emily’s brand new Weston Homes apartment – her rst home bought with support from her parents.
that the funds must be used for a first home worth up to £450,000 or for retirement and if you withdraw the money for anything else, you’ll pay a 25% penalty. 2. SAVE IN A CASH ISA If you have reached your LISA limit or prefer a penalty-free account, a Cash ISA is an excellent secondary option.You won’t pay tax on any interest earned and the annual ISA limit is currently £20,000. Selecting an account with a competitive interest rate ensures your money is working as hard as possible while you search for your new home.
features. For example, if you purchase a coffee for £3.59, the bank automatically rounds the transaction to £4 and transfers the 41p into a dedicated savings pot. You’ll be surprised at how quickly this “spare change” accumulates into a meaningful sum. 4. EXPLORE FAMILY SUPPORT The Bank of Mum and Dad can be a vital resource, but financial gifts are not the only way family can assist. Many buyers choose to move back in with parents temporarily. By significantly reducing or eliminating a monthly rent bill, you can divert those funds directly into your deposit pot, reaching your deposit goal faster. 5. SET YOUR BUDGET TODAY A place of your own is a great motivation to curb unnecessary spending. Review your outgoings to set a realistic monthly target. The sooner you begin, the sooner you will be stepping into a home designed for modern living. Weston Homes is an award-winning developer building new and converted one to four bedroom luxurious homes across London and the South East from £173,000*. For more information contact Weston Homes on 01279 873 300, or visit weston-homes.com
Here are some ways to secure the deposit you need:
1. OPEN A LIFETIME ISA A Lifetime ISA (LISA) is a powerful tool for first time buyers. The Government tops up your savings by an extra 25%. By saving the maximum of £4,000 each year, you receive a free £1,000 annual boost. This is a great way to boost your deposit, but do bear in mind
3. SAVE AS YOU SPEND
Many digital banks offer “rounding up”
SAVE WHILE YOU WAIT WITH FIRST-TIME SECUREBUY SCHEME† Weston Homes’ First-Time SecureBuy scheme allows you to secure an off-plan home with a £500 reservation fee, locking in the price immediately. It requires only a 5% exchange deposit which is fully refundable if your circumstances change. This worry- free scheme gives you extra time to save for furniture and moving costs while your home is built. THE BENEFITS OF BUYING NEW Choosing a new build or meticulously converted home can actually help your budget go further. Unlike older properties, new homes by developers like Weston Homes often come with higher energy efficiency ratings, potentially saving you hundreds on utility bills. Plus, you can enjoy your move without the hassle of an upward chain and with the peace of mind of a 10-year warranty that older “fixer-uppers” cannot match.
* Discount Market Sale, price includes saving † Terms, conditions and eligibility criteria apply
36 First Time Buyer February/March 2026
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