{"id":815477,"date":"2026-10-27T13:30:40","date_gmt":"2026-10-27T13:30:40","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/815477\/"},"modified":"2026-10-27T13:30:40","modified_gmt":"2026-10-27T13:30:40","slug":"first-time-buyers-hoping-for-help-from-the-budget","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/815477\/","title":{"rendered":"First-time buyers hoping for help from the Budget"},"content":{"rendered":"

Pre Ramteke pays about \u00a3900 a month in rent before bills, but says saving enough for a deposit to buy her first home remains out of reach.<\/p>\n

After moving to the UK from India in 2021, buying a home with her partner has proved difficult, due to rising house prices and the cost of living.<\/p>\n

Her concerns come ahead of this week’s Budget, when the government is expected to provide further details of its proposed Your First Home scheme, aimed at helping more first-time buyers onto the property ladder.<\/p>\n

“Sometimes I do think that I’m trying to chase a dream that’s going further and further away”, she told the BBC.<\/p>\n

The average interest rate on a new five-year fixed mortgage deal<\/a> has hit 6% for the first time in three years, with house prices getting higher and higher. <\/p>\n

Ramteke completed her studies in London and later moved to Rugby, hoping to put down roots. <\/p>\n

“We know that if we buy a property, the instalments are going to be the exact same as the rent is right now. But the deposit is what is the biggest challenge for us,” she said.<\/p>\n

She estimates it could take three to four years to save enough for a deposit on a typical three-bedroom home.<\/p>\n

Estate agent Zunara Tariq, of Oakmere Signature Homes, said affordability remained one of the biggest issues facing buyers.<\/p>\n

She said: “It’s a really tough time to save for a deposit. Even people who are on [big] salary jobs are finding it really hard.<\/p>\n

“Affordability is a massive thing that we’ve seen at the moment, and cost of living and affordability work hand in hand.”<\/p>\n","protected":false},"excerpt":{"rendered":"Pre Ramteke pays about \u00a3900 a month in rent before bills, but says saving enough for a deposit…\n","protected":false},"author":2,"featured_media":815478,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-815477","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/815477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=815477"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/815477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/815478"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=815477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=815477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=815477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}