#RENTSAVEOWN
SAVING A DEPOSIT WITHOUT THINKING ABOUT IT: COULD RENTING HELP YOU OWN SOONER? For many aspiring homeowners, the biggest barrier to buying a home is saving the deposit
“Renting made it so much harder for me to save,” she explains. “Mainly because when you’re renting, you’re spending most of what you earn on rent and bills.” Tahli once rented a two bedroom terrace with her best friend close to work and local amenities. She enjoyed the independence, freedom and having a place of her own. But saving while renting was slow. And then, life changed unexpectedly when Tahli’s landlord decided to sell the property, and the company she worked for went bankrupt overnight. She had to rethink her housing situation and her career plans. “I considered buying the house from our landlord so I could stay living there, but
Across the UK, millions are facing this challenge. Research suggests 3.57 million renters can afford the mortgage in their area but can’t save the deposit needed to buy¹. That gap between being able to afford a home and being able to access homeownership is becoming one of the defining housing issues of our time. High rents, rising household bills and the increased cost of everyday living are making saving for tomorrow much harder. And when saving happens after paying rent, council tax, travel costs, food, mobile bills and everyday expenses, building a deposit can take years. In fact, the average first time buyer
age in the UK is now 35², and it takes, on average, 13 years to save a deposit³. For many hoping to buy, that doesn’t just delay homebuying. It delays life itself. Moving out. Living independently. Starting a family. Building long-term security. Feeling settled. Homeownership plans can sometimes feel stuck in slow motion. TAHLI’S STORY Tahli understands that feeling well. At 37, she’s been saving for a deposit for nine years. Like many aspiring homeowners, she has found that renting made saving much harder than expected.
56 First Time Buyer June/July 2026
Made with FlippingBook flipbook maker