Hey guys, ☺

How is your weekend going? It’s been a while since I’ve done a post on the London Life, and this topic is definitely something I know that a lot of my fellow Londoners can relate to – getting on the property ladder.

Living in London can be such an adventure. There are so many different things available to you that you wouldn’t get anywhere else. It is a city that never sleeps, and you can spend forever discovering new things. Not to mention the people that you meet and the celebrities that you see. It is easy to see why many people find it hard to leave leaving in London.

On the flip side, it is easy to see why more people don’t come to London to live, simply because of the cost of doing so. Renting anywhere can be pretty expensive, but especially in London. You generally get a little less for your money, but it is the price to pay, right? Literally. But buying a home can be even more expensive, as the property market in London is always on the rise. So with that in mind, what are some ways that people could get the money together for a mortgage faster? If you want to be on the property ladder sooner rather than later, then this is for you.


Check Your Credit Score

It might sound a bit random, but knowing your credit score will let you know if you are even going to be eligible for a mortgage. If you have had trouble with debt or making payments for a credit card in the past, then it shows up on your credit score. If you have had trouble in the past, then getting a mortgage might be more difficult, regardless of what deposit you have. That is where you might need to start looking out for adverse credit loans instead. Obviously, check what the terms and conditions are before applying, but it could be worth looking into.

Colourful houses in Kensington, London.

Cut Unnecessary Spend

The London lifestyle doesn’t bode well for saving. How many times are you invited out for a drink or end up getting a taxi somewhere because your train was cancelled? So to cut out unnecessary spending can be hard and may require a few lifestyle changes. Can you walk to work instead of taking the tube? That could mean you cancelling your gym membership too! Can you cut down your coffee intake to making your own at home, rather than getting one every morning? Small and simple changes can really add up. You just need to be disciplined enough to then put that money aside.


Look at London Help To Buy

Have you ever looked at a help to buy scheme in your area? There are London based ones that could mean you getting on the property ladder sooner than you think. You don’t pay interest on a property for around the first five years. So it can be a real financial benefit for you. Many schemes like this are running until 2020, so you may have time to get involved.

Are there any other tips and tricks that you have been doing or that have helped you? The London life is expensive, but oh so worth it, right?

I hope you all enjoyed this contributed post on getting on the property ladder! ☺