Getting on property ladder in London

Ybe

What’s the best way to work towards getting on property ladder in London in late 20s? First homes in London are generally around the 300k mark. Is the only way to try and save a large deposit of around 100k or more?

Ybe

Have looked at help to buy and shared ownership etc but I think these options are just kicking the can down the road and could cause problems in the longer term.

GDB2222

How much do you earn?

csgohan4

better job, partner, win the lottery e.t.c

AnotherJoe

Why do you think a 30% deposit is needed? Not many FTBs start out with that high a deposit.

LydiaTheKind

Look into Lifetime ISAs - that really gave my deposit savings a boost. It needs to be open for a year before you can purchase though. But you’ll probably be saving for longer than that.

I no longer live in London but friends that do have either purchased using the help to buy scheme, purchased with friends/partners or worked really hard, had no social life for a few years, purchased a do-upper and spent 6 months doing DIY in the evenings.