Last Updated on Feb 23, 2024 by James W

Young people in the modern era know just how difficult it can be to get a foothold on the housing ladder. Indeed, with wages stagnating, the cost of living rising and the after-effects of the 2008 crash still lingering in the world economy, it’s more difficult than ever to contemplate how to gather up the cash to set up your first mortgage and to really make the jump from renting into ownership. In this article, though, you’ll find three innovative ways to transform your life by owning a property – helping you make that important first step onto the housing ladder.

Shared Ownership

One of the key ways in which young people can seize opportunities to climb onto the housing ladder is through shared ownership. This is essentially a legal agreement between yourself and others who may or may not live in the bought home – and you’ll need to talk to shared ownership legal specialists to help you hammer these agreements out.

The beauty of shared ownership is that the mortgage payments on the home do not rest solely on your income and your ability to make up the funds each month – you can share these responsibilities across other people and their wages. It means that you’re making a sturdier and more solid offer to a mortgage company, which is excellent news for anyone who’s looking to get on the housing ladder in 2020.

Marriage and Partnership

The other shared method by which individuals invest in a home is by partnering up and finding a mortgage deal that works for them. It’s here that you may find it easier to be married as, in an antiquated system, it’s still seen as a legally-bound guarantee that if you’re married, you’re going to stick together and join your financial heft into one.

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Of course, this means that you’re a more attractive prospect for a mortgage. There is no doubt that getting a better rate on a mortgage and getting onto the property ladder is no reason to marry, but if you do happen to be in a long-term and loving relationship, it cannot hurt your chances to get onto the housing ladder with the clout of two people’s income instead of one.

Using Family Cash

Finally, in the modern era there are many young people turning to their families to stump up the necessary cash to make it onto the housing ladder once and for all. It’s these individuals – many of whom are wealthy, or have wealthy parents – who are ultimately going to be able to afford that all-important housing deposit, and the first few months of mortgage payments.

There is little shame in asking family members to help you get onto the housing ladder. You can even work out, judging by your earnings and the ways in which you can slowly pay back their investment, a system by which their loan will be returned inside a certain period of time. As they’re family, they may well overlook interest and allow you to pay back the initial investment over time.

These tips will help you find your way onto the housing ladder in 2020, if you’re ready to make the leap from rented housing to home ownership this decade.


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