With GCSE and A-level results out over the last fortnight, it feels like the right moment to ask a question the industry doesn’t spend enough time on: what are we actually doing to support the first time buyers of tomorrow, the ones sitting with those results in their hands right now?
There’s been some genuinely good coverage across the industry recently celebrating those who’ve deliberately chosen apprenticeships and similar routes instead. That’s important, and it deserves the airtime it’s had, as nobody should feel that university is the only path worth taking.
But celebrating the choice is only half the job. The real question is whether our mortgage products and criteria actually back that choice up once these young people start earning.
Look at the current income realities. The average UK graduate starting salary in 2026 sits at around £28,000 to £32,0001, and apprentices and those going straight into work from college are often starting from a similar or lower base, even if timelines and progression differ.
Those going straight into work from college are often starting from a similar or lower base, even if timelines and progression differ. The average apprentice salary is around £19,700 a year2.
“Against typical affordability multiples, this doesn’t represent much buying power at the very start of someone’s career. The honest question for lenders is whether our current policies and affordability assessment criteria genuinely support these clients, taking into account that their incomes are likely to grow, or are we assessing them purely on what they earn today?
It’s also worth noting that lenders’ minimum income requirements for new innovations – such as higher income multiples and interest-only products – are often well above the average income of someone just starting their career.
There’s a wellbeing and inclusion dimension to this too, and I don’t think we talk about it enough. It can’t be right that the first time buyer who leaves university straight into a well-paid graduate job – often with student debt averaging close to £48,0003 – finds it easier to secure a mortgage than someone who’s spent years in steady work since 16-18, paying tax, building a track record, and saving toward a deposit.
Both are working hard towards the same goal, but only one of them is currently better served by how we assess income.
None of this is a criticism of the progress that’s been made, and it’s genuinely encouraging to see the positive noise the industry has made around apprenticeships and alternative routes this results season. But that noise needs to be matched by substance, and actions always speak louder than words.
My callout to the industry today is simple: it’s easy to say the right things about supporting these young people into their first job. The harder, more important question is whether we’re actually supporting them onto the property ladder once they’re in it.
