Deposit costs lead first-time buyers to take second jobs

May 2, 2026 by Brendan O'Neill

Surveys and Statistics

The latest study shows that almost half of the people looking to buy for the first time have taken second jobs as they try to save for a deposit.

This research comes from mortgage lender Santander UK and looks at the affordability situation for first-time buyers. A total of 49% told the study that they were working a second job so they could save towards a deposit. This is another clear indication of just how unaffordable housing costs are for younger generations in the UK.

Younger first-time buyers certainly feel that the market is stacked against them. Seven out of every 10 stated that buying a home is hard for young people due to the rising house prices and deposit costs. Meanwhile, 77% said that the generations that came before them had it easier when saving for their first home.

Among the issues that younger first-time buyers feel are squeezing them are high deposit demands and house prices. The former was cited as the top affordability issue by 59%, with the latter being cited by 78%. Rising living costs were a major factor too though, with 75% naming this as the problem.

Santander UK mortgages director David Morris told Mortgage Introducer that some first-time buyers were unduly pessimistic. He added:

“This is where mortgage brokers provide invaluable support for first-time buyers, helping them to see behind the interest rates and headlines, and understand what options are available to them.”

The need for advice is why demand for CeMAP training courses is so high.