2nd April 2026
Find out about our recent meeting with the Chancellor, and how we’re committed to helping first-time buyers.
Getting to grips with what buying your first home really involves isn’t always easy. Questions around deposits, affordability and whether you’re even eligible for a mortgage can make the whole process feel a little daunting - and sometimes even stop people from taking the first step.
However, there are more flexible routes onto the property ladder than many people realise. At the Vernon, we’re here to helping first‑time buyers explore their options and make them feel confident that homeownership might be closer than they think. Keep reading to find out how we’re helping.
Findings from the Building Societies Association reveal there’s a disconnect between what first‑time buyers believe is possible and the support available to them.
Theit research found that 47% of aspiring first-time buyers have never spoken to a lender or broker, meaning they’re often unaware of the full range of mortgage options open to them. When presented with examples of low or no‑deposit building society mortgages, 67% said they could buy sooner than they had originally thought, showing that just doing a bit of research can really help. Also, building societies now account for 35% of all first‑time buyer lending, with almost half of those supporting buyers under the age of 30, so it’s important to check what we have on offer too.
This research shows that many potential buyers are ruling themselves out far too early - often due to misunderstandings about deposits, credit history, or what counts as acceptable income. We want to help change that.
Our CEO, Darren Ditchburn, recently joined leaders from 13 other building societies to meet with Chancellor Rachel Reeves. The discussion focused on how mutual building societies can continue to play a leading role in helping people with smaller deposits, complex incomes, or non‑traditional work patterns access homeownership.
During the meeting, the Chancellor recognised the value that building societies bring through personalised underwriting and flexible decision‑making, qualities that help ensure people aren’t excluded simply because their circumstances don’t fit a standard tick‑box model.
The message was clear: many would‑be buyers are closer to owning a home than they believe, and building societies are uniquely positioned to help.
At the Vernon, we believe in opening doors for people rather than expecting every buyer to fit a one‑size‑fits‑all mould. Real life doesn’t always look “standard”, and your mortgage shouldn’t have to either. That’s why we have range of mortgage designed to suit many different people, all personally underwritten by people who take the time to understand your circumstances.
For first‑time buyers, we have options designed to make getting onto the property ladder more achievable. These include family‑assisted routes such as Head Start, where loved ones can help without the need for a traditional cash deposit, or Joint Borrower Sole Proprietor (JBSP) mortgages, which allow a family member to support affordability while you retain full ownership of the property. For students looking to take an early step into homeownership, we also offer Buy for Uni, which lets eligible students purchase a property while studying. Whatever your situation, we’re help you take your first step with confidence.
We’ll continue championing first‑time buyers by keeping our approach flexible, fair, and reflective of real life. People deserve to rethink what’s possible when it comes to owning a home, and with the right support behind them, many can take that first step onto the property ladder far sooner than they ever imagined.