First-time buyer affordability remains under pressure, with UK Finance research reported as placing it at its most squeezed point since 2008. At the same time, lenders and developers are testing targeted routes into ownership: Coventry Building Society is offering enhanced borrowing for some first-time buyers, while Own New and Gable Mortgages have launched a no-deposit mortgage for eligible Barratt Redrow homes priced from £125,000 to £1 million, subject to affordability and lending checks.
These products may widen access, but advisers should distinguish between solving the deposit hurdle and ensuring long-term affordability. Research also indicates that some prospective buyers conceal discretionary spending, including gambling-related activity, which can create avoidable problems when lenders review bank statements and spending patterns.
AI can help advisers deliver plain-English affordability education and structured pre-application checklists, but it should not encourage applicants to obscure expenditure or engineer their banking history. A robust process should cover verified income and outgoings, stress-tested payments, property running costs, product restrictions and realistic contingency planning.