While purchasing a home with a partner or co-buyer might seem more manageable, doing it solo is becoming increasingly common.
You may wish to live more independently, flexibly, or simply want to own a property on your own terms. Whatever your reason for becoming a solo buyer, you aren’t alone.
Indeed, according to MoneyAge (4 December 2025), 2025 has been called the “year of the solo buyer”, as individual first-time buyer applications consistently outpaced joint ones for the first time in five years.
Sole applicants accounted for 56% of all new mortgage applications in April, suggesting a shift in how people think about homeownership.
If you’ve been considering purchasing a property on your own but have been worrying about how you might manage financially, there are practical ways to prepare.
So, continue reading to discover some of the key challenges you may face as a solo buyer, and how you can overcome them.
You may find it more challenging to save for a deposit
When you buy a home on your own, you will have to rely on a single income to cover all the upfront costs.
This might make saving for a deposit feel much slower and more demanding, especially when you need to manage rent, bills, or other everyday expenses.
House prices remain relatively high across much of the UK. The Office for National Statistics (17 December 2025) states that in the 12 months to October 2025, average house prices rose to:
- £292,000 in England
- £211,000 in Wales
- £192,000 in Scotland.
Even if you managed to secure a 75% loan-to-value (LTV) mortgage, you would still have to pay a deposit of £73,000.
Saving this amount of money on a single income is challenging, but not entirely out of reach – though, as you would expect, it will require careful planning.
Moreover, some lenders might offer more competitive mortgage rates to buyers with larger deposits, which could influence how much you borrow and your monthly repayments.
Making your savings work harder could help you accumulate a sufficient deposit
You may benefit from making your savings work harder while you build your deposit.
For instance, shopping around for a savings account with a competitive rate of interest could help your money grow more efficiently over time, especially if you’re regularly setting funds aside.
What’s more, you could consider using a Lifetime ISA (LISA) if you’re eligible.
These allow you to save up to £4,000 each tax year and receive a 25% government bonus, up to £1,000. Over several years, this tax-free bonus could significantly increase the overall value of your deposit.
Just keep in mind that you must be between 18 and 39 to open a LISA, and you can only use the funds to purchase your first home or for retirement (drawing the funds after the age of 60). Otherwise, you could incur a 25% penalty, effectively losing the government bonus altogether.
You may be more vulnerable to financial shocks
Buying a property on your own can also mean you have less of a financial cushion if something unexpected occurs.
Without a second income to fall back on, changes such as an illness, redundancy, or even rising living costs could have a greater impact on your ability to meet your mortgage repayments and household expenses.
Once you own a property, you’re also responsible for maintenance and repair costs. These can arise without warning and place significant strain on your finances if you’re not prepared.
Financial protection and an emergency fund could boost your resilience
You could strengthen your financial resilience by building a safety net before you commit to purchasing a property.
For example, an emergency fund means you might not have to exhaust funds ringfenced for other purposes in the face of the unexpected, keeping your goals on track.
It’s prudent to save between three and six months’ worth of necessary household expenses in an easy access savings account. If you have many dependents or you’re self-employed, you may want to save as much as 12 months’ worth.
You might also want to consider taking out the appropriate financial protection.
Income protection typically provides you with regular payments if you’re unable to work due to an accident, illness, or period of redundancy.
Meanwhile, critical illness cover offers a tax-free lump sum if you’re diagnosed with a serious condition, provided it’s covered by your provider.
Combined, these could help you keep up with mortgage repayments when you’re trying to get back on your feet.
You may need to be more careful about affordability
Mortgage lenders usually assess your affordability much more carefully than they might have in the past.
When you apply for a mortgage on your own, lenders will assess your income, spending habits, and existing financial commitments to determine what you can realistically afford.
However, it’s worth pointing out that buying solo might work in your favour. Indeed, you don’t need to worry about someone else’s credit history, and you may be able to choose a smaller and more manageable property that aligns with your budget.
Still, you should be realistic about what you can afford, as this could reduce financial pressure once you move in.
It’s worth reviewing your budget long before you apply for a mortgage
Before you start viewing properties, it might be prudent to carefully review your finances in detail.
When you understand your monthly outgoings, you may be able to reduce unnecessary costs and address existing debts. This could, in turn, strengthen your mortgage application and help you put your best foot forward as a solo buyer.
Contact us
We could help you explore your options, assess your budget, and ensure your plans are sustainable. Please get in touch with us today, and we’ll arrange a meeting.
Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.
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