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First time buyers are rethinking their careers to get on the housing ladder

Mortgages 3 min read 05/02/2026

New research from Aldermore* shows that aspiring first time buyers (FTBs) face an average income gap of more than £21,000 to achieve their homeownership goals, prompting many to reassess their careers, earnings, and long-term plans.

Insights like these provide additional context on the realities facing first time buyers today. By exploring how affordability pressures influence career choices, saving behaviour, and expectations around homeownership, intermediaries can gain a clearer picture of what matters to clients as they consider their first steps onto the property ladder.

Aldermore conducts regular research into the first time buyer market to ensure these insights reflect the latest trends and experiences shaping buyers’ decisions.

 

A £21k income gap to bridge

According to Aldermore’s latest First Time Buyer Index, more than a third of prospective FTBs (35%) believe they need an average annual salary increase of £21,646 to afford a home they aspire to buy.

With mortgage rates and house prices continuing to squeeze affordability:

  • 64% of aspiring buyers are saving more than they originally expected
  • The average expected deposit has risen to £48,168

These figures highlight the growing financial hurdle facing those trying to step onto the property ladder.

 

Career choices shaped by homeownership goals

To close the affordability gap, many prospective FTBs are taking proactive, and sometimes significant, career-related steps:

  • 40% are looking for higher-paying jobs
  • 22% have negotiated a pay rise
  • 21% have switched or are considering switching careers
  • 20% moved jobs to secure larger bonuses
  • 17% delayed leaving a role to strengthen their mortgage application
  • 13% have gone into, or considered, a career they don’t enjoy in order to buy a home

These findings show that homeownership is not only shaping financial decisions, but also influencing long-term career planning and job mobility.

Family decorating new home

Expectations vs reality on monthly costs

Despite saving larger deposits and seeking higher incomes, expectations around mortgage affordability don’t always match reality.

Prospective FTBs say they are willing to spend 27% of their income on mortgage payments. However, current homeowners report spending closer to:

  • 31% of income on average
  • 41% for buyers aged 18–24
  • 37% for those living near London

This disconnect suggests that many aspiring buyers may underestimate the ongoing cost of homeownership, even as they stretch themselves to get on the ladder.

 

A longer journey to homeownership

Affordability pressures are also extending the timeline to buying a first home.

  • Aspiring buyers now expect to get the keys at age 37
  • Recent first time buyers purchased at an average age of 31
  • 45% of FTBs will spend five or more years saving
  • 5% expect it to take over a decade

This represents a significant shift in the traditional first time buyer journey.

 

What this means

Jon Cooper, Aldermore’s Director of Mortgages, comments:

“The UK’s first time buyers aren’t just tightening their belts, they’re rethinking their entire career paths to try and get on the ladder.

From chasing pay rises to moving into different roles, prospective homebuyers are reshaping their working lives to secure a home of their own. Their ambition is as strong as ever, but the sacrifices they’re making are more significant.


For anyone considering a career change to boost their income, it’s important to take a measured approach, looking at long-term earning potential, retraining options and whether a new role genuinely aligns with your skills. Before making a major move, talk to your current employer about progression, responsibilities and a pay rise that could unlock opportunities without the upheaval of starting again.”

This research highlights the broader pressures shaping FTB behaviour, from income uncertainty to longer saving periods and evolving career paths. As a broker, understanding these dynamics can help with being aware of client concerns, expectations, and to hopefully better support buyers navigating an increasingly complex route to homeownership.

 

Key takeaways for brokers

  • Affordability pressures are influencing not just savings, but career decisions.
  • Many FTBs face a significant income gap before buying
  • Expectations around mortgage costs often differ from real-world experience
  • The journey to homeownership is getting longer and more complex

You can find out more about our mortgages for first time buyers here.

*Research conducted, on behalf of Aldermore bank, by Opinium between 10th October – 3rd November 2025, among 2,000 Prospective First Time Buyers and 500 recent First Time Buyers from the last two years.