Author: Robyn Wilson

Pocket are working harder than ever to help Londoners get onto the property ladder. We love this city, especially during the festive season.

In this blog, we’ve rounded up some of our favourite Christmas markets in London to get you into the holiday spirit. A few of these hidden gems take place in neighbourhoods our Pocket communities call home.

Add them to your list and start planning your winter outfits!

Kingston Christmas Market: 13 November – 28 December 2025

Experience a European-style Christmas market in a traditional British riverside setting.

Wander under twinkling fairy lights, enjoy a mug of mulled wine and choose from an assortment of delicious  festive food stalls to get you in the Christmas spirit.

Walthamstow’s Christmas Makers Market: 30^th November 2025

Support small businesses at the Craft & Flea Makers Market – a vibrant gathering of Walthamstow’s finest local artisans.

Enjoy a wide selection of products, including ceramics, illustrations, candles, jewellery, vintage collections, and more!

Book your ticket on Eventbrite to secure your spot.

Harrow’s Christmas Light Trail: selected dates throughout December

Don’t miss your chance to be part of Harrow’s first-ever Christmas Light Trail.

Along the trail, there’ll be food trucks serving festive treats, hot drinks, and winter snacks for you to enjoy while soaking up the magical atmosphere.

Barnet Christmas Fayre: 7^th December 2025

Come along to this years’ annual Barnet Christmas Fayre on the high street (by the Barnet church) to celebrate the community at this special time of year.

There will be entertainment on the Christmas Courtyard and in St John’s Church you’ll find live music, singing and choirs plus teas, mulled wine and refreshments.

Southbank Winter Market: 3^rd November – 4^th January 2025

Stroll along the Thames and sample indulgent drinks and scrumptious street food from traditional alpine-style chalets.

Grab yourself a hot chocolate as you browse gifts, jewellery, decorations and fashion, all made by independent creatives.

The Big Market at BOXPARK: Croydon: 23^rd November – 13^th December 2025

Join the festivities at The Big Market in BOXPARK Croydon.

The venue will be filled with a curated selection of up to 30 local makers, artists, and independent traders. You’ll find a wide range of unique products including records, art, homewares, jewellery, ceramics and gifts.

Richmond Christmas Market: 23^rd – 24 November 2025

Enjoy the first ever – two– day Christmas market set along the scenic riverside banks of Richmond. 

Brand-new traders will be offering a range of festive gifts and tempting street food from gazebos and vehicles.

Royal Mews Christmas Pop-Up Shop: 4^th November – 5^th January 2025

Buckingham Palace will soon be throwing open the doors of its first ever Christmas pop-up shop.

Celebrate the festive season with gifts inspired by royal tradition, from sweet treats and fine wines to festive gift wrap and luxury hampers. 

Wherever you celebrate this festive season, be it Kingston or Croydon, there’s no place like London to call home.

If you’re dreaming of owning your own home in London, discover how Pocket can help you get onto the property ladder.

Saving for a deposit and maintaining your weekly brunch habit might seem mutually exclusive, but they don’t have to be. All it takes is a well-thought-out savings plan – one that works with your budget and lifestyle – to make your home-buying dream a reality.

You make this city, so you should get something back. A home you can call your own. Somewhere you can put your stamp on. That’s where we come in. We built Pocket Living around the idea that everyone should have a fair opportunity to get on the housing ladder, and we’re here to help you get there.

In this blog, we’re sharing our top tips on saving for your first home, whatever your circumstances. From ISAs to bank accounts and more, we’ll help you understand everything you need to know about saving. Let’s get started.

How much do you need to save for your first home?

Before creating a savings plan, you need to know how much you need to save. Normally, you need at least 10% of the purchase price as a deposit. But there are several reasons why it’s advantageous to save for a larger deposit of 15%-20% or more, including:

Improved mortgage deals

The higher your deposit, the lower your loan-to-value (LTV). This means your mortgage lender could offer you a better interest rate.

Smaller repayments

With a larger deposit, you’ll borrow less money, meaning you’ll have smaller monthly mortgage repayments.

Better chances of getting a mortgage offer

If you have more money saved for a deposit, you’ll be more attractive to lenders when they conduct their affordability assessment on you. Plus, you’ll usually have more mortgage options to choose from.

Researching properties in your desired area will give you an idea of how much they sell for. If you’re interested in a Pocket home, remember that it will be priced lower than the surrounding market because we offer 100% ownership at a 20% discount.

Once you’ve worked out roughly how much you need to save, you can put together a realistic savings plan that will help you achieve your goal.

Ways to save for your first home

The deposit is the biggest thing you’ll need to save for when buying a home. As a first time buyer, this can seem a bit daunting, but putting a savings plan into action as soon as possible will make it more manageable. ISAs and bank accounts are a good place to start. Make sure you speak with an independent financial advisor for full details of specific ISA T&C’s.

Lifetime ISA (LISA)

A LISA is a government scheme that helps first time buyers boost their deposits. It allows you to save up to £4,000 every tax year until you turn 50, and the government will give you a yearly bonus of 25%, topping up your savings by up to £1,000.

Cash ISA

A cash ISA allows you to save without paying tax on the interest earned. At the start of each tax year, everyone in the UK aged 18 or over gets a total ISA allowance of £20,000. You can save up to this amount across all types of ISAs you have.

When it comes to cash ISAs, there are two types:

• Easy access: Also known as “instant access”, easy access Cash ISAs allow you to withdraw money whenever you want. Some are “flexible”, meaning that if you withdraw money, you can re-deposit the same amount in the same tax year without it counting towards your total ISA allowance.
• Fixed rate: With this type of cash ISA, you agree to lock your money away for a set amount of time – typically one to five years – getting a higher, fixed interest rate in return. However, if you need to make a withdrawal during the fixed term, you’ll probably be charged a penalty.

Stocks and shares ISA

Putting your money into a stocks and shares ISA means it will be invested in assets like company shares, government bonds and investment funds. The idea is that it will grow your money, and you won’t have to pay any income or capital gains tax on the profits or dividends you earn.

Due to the nature of investing, the value of your savings can go up or down. This makes it a riskier option, so it’s usually recommended to use this type of ISA for at least five years to reap the benefits.

Fixed rate bonds

Fixed rate bonds can help you grow your savings for a fixed amount of time, usually one to five years, with a guaranteed interest rate. Depending on the provider, there’s no limit to how much you can deposit each year.

The interest earned is taxable, but you can earn up to your Personal Savings Allowance (PSA), which is the total amount of interest you can earn each year across all of your bank accounts (except ISAs), without paying tax. The allowance is £1,000 for basic-rate taxpayers and £500 for higher-rate taxpayers.

Current accounts

If you need to withdraw money without notice, a current account is a good option. It allows frequent deposits and withdrawals without charges and can offer a better interest rate than an easy access savings account.

Easy access accounts

If you need flexibility, opt for an easy access savings account. You’ll be able to withdraw money whenever you like, but you’ll have a lower interest rate because of this.

Regular savings accounts

With a regular savings account, you commit to depositing a certain amount each month – typically £10 to £500. In return, you’ll receive a better interest rate than a current or easy access account, but there may be restrictions on withdrawals, depending on the provider.

There’s no denying that saving for a deposit is challenging, especially for first time buyers, as the cost of living squeezes incomes. But with some careful planning, financial advice and by taking advantage of the various savings accounts and schemes available, you can save in a way that works for you.

By offering Pocket homes at a 20% discount, we’re helping many Londoners take their first steps onto the property ladder. Explore our developments and create a My Pocket account to start your journey today.

Mortgage rates might not seem like the most interesting topic, but as a first time buyer, it’s important to understand what they are, what impacts them and how they could affect you.

At Pocket Living, we want to make sure you have all the information you need to make an informed decision about stepping onto the property ladder. So, in this guide, we’ll explore the base rate, the forecast for mortgage interest rates and what you should consider as a first time buyer before committing to a mortgage deal.

What’s the base rate?

The Bank of England (BoE) sets the base rate of interest – officially known as the Bank Rate – which influences the economy and controls inflation. The base rate dictates how much you’re charged to borrow money from banks and lenders. A higher base rate makes borrowing more expensive, while a lower base rate makes borrowing cheaper. Therefore, the base rate impacts the interest rates offered on new fixed-rate mortgages and the standard variable rate when the fixed term ends. It also influences variable-rate mortgages, causing monthly repayments to rise and fall with it.

The BoE started raising the base rate at the end of 2021 to combat rising inflation. Since then, inflation has stabilised, and the BoE began lowering the base rate in August 2024. It’s currently set at 4% and has been since August 2025, with the next announcement due on 6 November 2025.

What’s the forecast for mortgage interest rates in 2025 and 2026?

What’s happening in the world makes it difficult to predict how the economy will evolve, which is why the BoE monitors global developments closely and reviews the base rate every six weeks. Inflation is still higher than the government’s target of 2%, so future cuts to the base rate will be made “gradually and carefully”, says BoE Governor Andrew Bailey.

Because of this, it’s hard to predict what’s in store for mortgage rates for the rest of 2025 and into 2026. According to HomeOwners Alliance, forecasters are split on what’s next. On one hand, the base rate could stay at 4%, keeping mortgage interest rates similar to what’s currently on offer. On the other hand, there’s the chance of another base rate cut of 0.25% before the end of the year, which could reduce the interest rates lenders offer on mortgages. If you’re thinking about buying your first home in the next few months, we recommend speaking to an Independent Mortgage Advisor (IMA) like Censeo, who can help you secure the best mortgage interest rate.

What this means for you as a first time buyer

We’ve all experienced the impact that global developments have had on the economy in the past few years. To say it’s been a challenge for first time buyers trying to save for a deposit would be an understatement. But the good news is that inflation is stabilising, and the base rate has gradually decreased over the past two years, resulting in lower mortgage interest rates than at the height of inflation between August 2023 and July 2024, when the base rate was 5.25%.

The takeaway? Keep an eye on inflation, as it impacts everything from earnings and budgets to the base rate and subsequent mortgage rates. Staying up to date with what’s happening in the economy will help you make an informed decision about when to buy your first home.

If you’re interested in a Pocket home, explore our communities and learn more about buying with us.

Buying your first home can be a bit of a minefield. From terminology to hidden costs, there’s a lot to get your head around. 

In this blog, we’re delving into the expenses you can expect as a first-time buyer. This will give you an idea of how much you need to save alongside your deposit to purchase a Pocket home.

First-time buyer costs

Reservation fee

Once you’ve completed your affordability assessment on My Pocket and viewed an apartment you want to buy, you’ll have to submit an Expression of Interest form to enter the lottery to purchase a home. If you’re offered one of the homes, you’ll be required to pay a £500 reservation fee. 

Property survey

Once the offer details are confirmed and conveyancing starts, you may wish to book a snagging survey with a chartered surveyor. This isn’t a requirement, but it can be useful to get a clearer picture of the property and any potential issues that could arise. Typically, a new-build snagging survey costs around £375.

Mortgage broker fee

When applying for a mortgage, it’s best to seek help from an Independent Financial Advisor who can help you find the best deal. We recommend using an IFA like Censeo Financial, as they specialise in affordable homes and know which lenders are available. They charge a broker fee of up to £495, which is payable upon application.

Mortgage arrangement fee

Sometimes, banks and building societies charge mortgage arrangement fees for setting up your loan. It’s a one-off charge, typically between £1,000 and £2,000, that can unlock better interest rates. You’ll have the option to pay it upfront or add it to your total mortgage amount, but in this case, you’ll pay interest on it. 

Conveyancing fees

After agreeing your purchase, the conveyancing process begins. You’ll appoint a solicitor to act on your behalf, and they’ll undertake searches and sort out all the paperwork.

Rates vary between solicitor firms, but you can expect to pay between £1,500 and £2,500 in conveyancing fees for a new-build leasehold property.

Stamp duty 

Stamp Duty Land Tax (SDLT) is the tax you pay on property purchases above a certain price. For first-time buyers, the threshold is set at:

• No SDLT up to £300,000
• 5% SDLT on the portion from £300,001 to £500,000

Top tip: Keep an eye out for ‘stamp duty paid’ incentives, which we sometimes offer on Pocket homes. 

Moving costs

Moving your belongings into your home will incur some costs. You can keep expenses down by doing it yourself – maybe with the help of friends or family – and reuse boxes to minimise the cost of packing materials. 

If you’re moving furniture, you may prefer to hire professional movers. The cost of this will vary depending on things like the company and distance, but you can expect to pay a few hundred pounds for a professional moving service.

How to buy a Pocket home in London

At Pocket Living, we help Londoners become homeowners by offering flats for sale with full ownership and a 20% discount off the full market value. 

Get started by creating a My Pocket account and undertaking an affordability assessment for the development you’re interested in. Additionally, check out these saving strategies to help you reach your financial goals.

An Income Boost is a little-known guarantor mortgage scheme that lets someone close to you – like a parent, sibling, or even a friend – help your application without giving (or lending) you money. Their income gets added to yours, so you can borrow more without upping your deposit. That extra boost could be the difference between “almost there” and “keys in hand.”

What is an Income Boost Guarantor Mortgage (Joint Borrower Sole Proprietor)?

It’s a type of mortgage that lets you add up to four people (usually family) to your application as joint borrowers. Their income gets included when the lender crunches the numbers, meaning a bigger loan offer for you.

But only your name goes on the property deeds – that’s the “sole proprietor” bit. So while they don’t own your home, they do share the legal responsibility for repayments. If you stop paying, they’ll need to cover it.

Why would you an Income Boost Guarantor Mortgage?

It’s smart if you’ve got great earning potential but not-so-great income right now. Example: on a £25,000 salary, you might only be able to borrow £100k–£112.5k. But with Mum’s £38,000 added in, you might be able to stretch to £252k–£283.5k. That’s up to £152k more – a game-changer for your home search.

When can a joint borrower be removed from the mortgage?

Your joint borrower can be taken off the mortgage once your financial position improves and you can afford the mortgage by yourself; for instance, if your income increases to a level where you can borrow the mortgage you need without your guarantor’s income. Alternatively, they can come off if you choose to remortgage (subject to affordability) or sell the property.

What happens if a joint borrower passes away?

If the person supporting your mortgage passes away and you’re unable to afford the repayments on your own, it could mean having to sell the property, unless you’ve planned ahead. It’s always advisable to speak to a financial advisor before setting it up.

1. Is there an age limit for joint borrowers?
2. Yes. Lenders want the mortgage cleared by age 80. So for a 35-year term, your helper needs to be 45 or younger. Something to keep in mind if Mum or Dad are stepping in.

Nope. Only the sole proprietor (you) can live in the property. Even though they’re on the mortgage, joint borrowers can’t move in.

This blog post has been written in partnership with Tembo. For more information or to book a call with Tembo, click here.

Subject to affordability and eligibility criteria. Your home may be repossessed if you do not keep up with mortgage payments.

Being added to a borrower’s Joint Borrower Sole Proprietor mortgage (Income Boost) as a joint borrower could impact the guarantor’s ability to get credit in future.

Getting on the property ladder can feel like a daunting task for first-time buyers. With the average time to save a house deposit nearing 10 years (18 years in London), homeownership might sometimes feel out of reach. But with a Deposit Boost, you could make your dream of owning a home a reality sooner than you think.

A Deposit Boost is a type of buying scheme that allows loved ones like parents or grandparents to help give you a leg up on the property ladder, without needing to dip into their cash savings, investments, or pensions. Here’s how it works, some key benefits, and considerations to help you decide if it’s the right option for you.

How a Deposit Boost works

A Deposit Boost involves two mortgages. A home-owning loved one, like a parent or close family member, secures a small mortgage against their own property to release funds. This could be done through:

• An interest-only retirement mortgage to keep monthly payments low.
• A standard remortgage for accessing equity in their property.

The proceeds from this mortgage are then gifted to you as part of or your whole home deposit. From there, you’ll arrange your own mortgage, with a boosted downpayment thanks to your loved ones’ gift.

Key benefits of a Deposit Boost

1. Get on the property ladder faster

Saving for a deposit can take nearly a decade, but through a Deposit Boost, your loved ones can help you secure your first home sooner by speeding up your time to save.

2. Increase your budget

A larger deposit doesn’t just mean more up-front equity in your property. It can also increase your overall budget, potentially giving you access to homes that were previously out of reach.

3. Access lower interest rates

If you use your boosted deposit to purchase the same priced property, the extra money you put down will reduce what you need to borrow for a mortgage. This will not only reduce your overall loan size, but could also give you access to lower interest rates. Lenders see larger deposits as lower risk, so by putting down a larger downpayment you could get more favourable interest rates. This could save you thousands over the lifetime of your mortgage, making your monthly payments more manageable.

4. No cash savings needed from your Booster

Unlike traditional support that may require cash savings, the money is unlocked from your Booster’s property equity. This means they don’t need have savings, pensions, or investments to use in order to help you buy!

5. No financial links between you and your Booster

Both mortgages are kept entirely separate, meaning your financial health won’t affect your Booster’s, and vice versa. If one party misses a repayment, the other is not liable.

6. Potential to reduce inheritance tax

By gifting you money earlier in life, your Booster could reduce their future inheritance tax liability. This is because they are releasing money from their estate, which could give your Booster peace of mind if they are concerned about how much of their assets will be taken by the tax man when they die.

Things to consider before using a Deposit Boost

While a Deposit Boost can be a fantastic solution, it’s essential to weigh the potential challenges before moving forward:

• Risk of repossession

Like any mortgage, missed repayments by you or your Booster can result in serious consequences, including repossession of your property or theirs.

• Eligibility requirements

Boosters must pass a credit check and demonstrate their financial ability to make repayments in order to be approved for the small mortgage needed for a Deposit Boost. If they have significant existing borrowing or low income, they may not meet the criteria.

• Mortgage limitations for Boosters

If your Booster still has a mortgage on their property, they’ll need to have at least 50% of it paid off. This can particularly impact those nearing retirement or with limited equity.

This blog post has been written in partnership with Tembo. For more information or to book a call with Tembo, click here.

Your home may be repossessed if you do not keep up repayments on your mortgage. Always be sure to seek professional tax advice.

The UK government’s new Commonhold White Paper could mark a major shift in homeownership, aiming to replace the current leasehold system with the commonhold model. But what does this actually mean for flat owners and buyers? In this guide, we break down the key differences between leasehold and commonhold, what the proposed changes involve, and how they could impact future homeowners – including those buying Pocket homes.

What is a leasehold?

A leasehold is a common form of home ownership in the UK, where you buy the right to occupy a property for a set period of time. It’s typically used for flats or homes in shared buildings, where the land itself is owned by a freeholder (more on them in a bit).

Lease lengths vary, and properties with fewer than 80 years left on the lease are unlikely to qualify for a mortgage. To sell or remortgage, the lease would likely need to be extended. Thanks to the Leasehold and Freehold Reform Act 2024, new lease extensions now typically last 990 years.

Leasehold properties can be bought and sold on the open market, just like freehold homes. However, with all leasehold properties, there is an underlying freehold, owned by the freeholder – the person or company that owns the land the building sits on.

For older leasehold properties, leaseholders often pay ground rent to the freeholder – a fee that usually increases every 5-10 years. However, since the Leasehold Reform (Ground Rent) Act 2022, new leasehold homes now come with a peppercorn ground rent – a nominal fee, often just £1.

Leaseholders also pay a service charge towards the upkeep and maintenance of the building and communal areas. This covers things like:

• Buildings insurance
• Cleaning of shared spaces
• Communal electricity and heating
• Lift and security systems
• General maintenance of communal areas

Part of the service charge often goes into a reserve fund to cover future major works on the building.

(Just to clarify: this refers to long leasehold properties, which is different from a short-term tenancy agreement that most renters sign.)

What is a commonhold?

With commonhold, owners own the freehold of their individual unit.

As a commonhold owner, you would jointly own and be responsible for the communal areas, along with the other unit owners, through a commonhold association. This means contributing to the maintenance and upkeep costs, similar to how leaseholders pay a service charge. The commonhold association determines how much these costs will be, in line with legal requirements for residential buildings.

Some commonhold associations may choose to hire an external building manager, with the costs shared by the unit owners.

One key difference? No ground rent – commonhold owners own the freehold of their unit, so there’s no need to pay it. This is also true for newer leasehold homes, thanks to the 2022 ground rent reforms.

What happens now?

As it’s still early days, the government hasn’t yet outlined the full requirements that developers and landlords will need to follow once the legislation comes into force. So, we don’t know exactly how this will affect new-build homes going forward.

Once the law is in place, developers will need to comply with the new rules. However, given the scale of these changes, it’s likely to take several years before they are fully implemented.

Are Pocket homes leasehold?

Yes – all Pocket homes for sale are currently leasehold properties. Lease lengths vary across our developments, ranging from 125 years to 999 years.

Each Pocket development has a Residents Management Company (RMC), made up of all the owners. Once all residents have moved in, the RMC takes over responsibility for managing the communal areas – similar to how a commonhold association would operate.

The RMC also has a say in what is included in the service charge and works with external building managers to oversee the running of the common areas.

There are also some benefits to the leasehold system. For example, managing agents can enforce regulations that benefit all residents – such as preventing noise disturbances, which helps keep the peace for everyone.

Tom, a marketing analyst, and his partner Diane, who works in finance, moved into their first home together in April 2022 after viewing a Pocket Living apartment at Addiscombe Grove CR0 in East Croydon, and falling in love with its modern design, great transport links and its affordable starting price.

They were previously living separately in Brighton and Mitcham, respectively, having spent a number of years studying at university and working to save up ahead of their move to London for work. “We had both secured jobs in the capital and wanted to live together and so decided the next logistical step for us was to purchase our own home together somewhere fairly central”, explains Tom.

The couple discovered Pocket Living through a family recommendation. “My partner’s brother lives in a Pocket development in Kingston and he had really positive things to say about his experience so we decided to take a look around its Addiscombe Grove development in East Croydon. It wasn’t the only home we looked at in the area but we really liked the idea of buying a new build and the appeal of no one having lived there before, as well as Pocket’s reputation as a good developer. The discount applied for first time buyers, which was also very appealing so we decided to buy a one-bedroom apartment there”, says Tom.

Pocket Living is an innovative housing developer, which delivers one-bedroom apartments exclusively to first time buyers living or working in London. All of the homes are available at a 20% discount to the local market value and owners own 100% of their home.

Seamless buying process at Addiscombe Grove

As it was Tom and Diane’s first home, they were both reassured by the ease of the buying process. “Pocket Living provided us with really helpful guidance on the steps involved in buying our apartment, and even connected us with recommended mortgage advisors and solicitors. It made the whole process a lot smoother, which was exactly what we needed having not done it before”, they explained.

Location, location, location

The location of Addiscombe Grove, which is a four-minute walk from East Croydon station, was another major draw for the pair as the line offers excellent transport links via Thameslink, Southern railway and the Gatwick Express. Both London Bridge and Victoria stations are less than 20 minutes away, while residents can get to Gatwick Airport in as little at 14 minutes.

“We wanted to live in East Croydon for its commuting convenience. I work in Battersea, and my partner works in Canary Wharf, so having East Croydon station nearby has been fantastic”, said Tom who noted that he can leave his home at Addiscombe Grove and be on the train platform within a matter of minutes. The great connections to Brighton, which takes just 50 minutes door to door, also means he can easily visit his grandad who lives there.  

Beyond the commute, the couple enjoy spending time in the local area, exploring the variety of shops, restaurants, and entertainment options on their doorstep. “We will often take our friends to BOXPARK Croydon when they come to visit. It has lots of food options so it great if we want to grab a bite to eat, although Oodles, a Chinese restaurant on George Street, is a particular favourite of ours”, said Tom,

A home that meets their needs at Addiscombe Grove

Moving into a new home, complete with modern fixtures and fittings, meant that the couple could put their own personal touch on the property. “We were specifically looking for a new build as we didn’t want to do much work to it but we were very excited to decorate it, painting the walls, installing floor to ceiling TV cabinets and giving it a really cosy and comfortable feel – this was made much easier by the fact that IKEA is just a 12-minute drive away”, they noted.

Top tips for aspiring first-time buyers

For those dreaming of owning their first home, the couple has shared some advice:

1. Explore the area: “Make it an adventure! Spend time in the neighbourhood you’re considering. Walk around, visit the local cafes, and get a feel for the community vibe. It’s exciting to imagine yourself living there, and it helps you make a confident decision.”

2. Save early and consistently: “No matter how small the amount, every little adds up. Consider using a simple budgeting rule like the 50/30/20 method: allocate 50% of your income to needs, 30% to wants, and 20% to savings. Watching your deposit grow is incredibly rewarding and brings you one step closer to buying your first home.”

3. Take advantage of living at home: “If you have the opportunity, living with family for a bit longer can supercharge your savings. It’s a great short-term strategy that can help you achieve your long-term goal of homeownership faster. It’s a small sacrifice for a big reward!”

4. Stay positive: “Buying your first home can feel daunting at times, but it’s an incredible feeling when you finally get the keys and step into a place you can truly call your own. It’s all worth it when you see your hard work pay off.”

Ah, the start of a new year – the perfect excuse for a fresh start, a new diary, and a long list of overly ambitious new year’s resolutions. But if 2024 is the year you’ve decided to trade in your rented digs for a place to call your own, we’ve got some realistic, first time buyer specific new year’s resolutions to help you get there. And don’t worry, these won’t involve kale smoothies or 5 a.m. wake up calls – just a bit of planning, saving, and savvy decision making.

1. Save a specific amount each month

Unfortunately, a home deposit doesn’t just appear magically. Work out how much you’ll need to save by your target move in date, and divide it by the number of months you’ve got until then. Then set up an automatic transfer to a savings account, preferably one with good interest. You could also consider a LISA to boost your savings. Tip: treat this as a non-negotiable bill, not something you’ll ‘get around to later.’

2. Know your credit score (and show it some love)

Your credit score is like your financial CV – make sure it’s on top form. Use a free credit report tool to check your score and look out for any errors. If it’s not quite where you’d like it to be, don’t panic. There are often small changes you can make which could make a big difference when it’s time to apply for a mortgage. Tip: We often work with Censeo Financial, an Independent Mortgage Advisor, and they recommend CheckMyFile to get a comprehensive view of your credit report.

3. Complete your Pocket Living affordability assessment

If you’re serious about buying a home (and let’s face it, you wouldn’t be reading this otherwise), your next step is to see what’s realistically within your reach. Complete an affordability assessment for the Pocket scheme you like the look of to find out what kind of mortgage you could qualify for. 

4. Define your non-negotiables

Not every property will tick all the boxes. Start by identifying your top five must-haves (e.g., a location close to work or wfh space) and your deal-breakers (e.g., no outside space or too far from public transport). This will keep you focused during viewings and help you make confident decisions when the right property pops up.

5. Build your emergency fund

Even if you’re moving into a brand-new Pocket home, life’s little surprises don’t stop once you get the keys. Whether it’s unexpected repair costs or just making sure you’re not eating beans on toast every night after moving in, having a rainy-day fund will give you peace of mind. Aim for three to six months of essential expenses tucked away in an easy-access account.

6. Book a viewing and take the leap

Once you’ve got your finances and priorities in order, it’s time to take the next step: booking a viewing. With Pocket Living, you’ll get access to affordable, beautifully designed homes that are built specifically for London’s first time buyers. And who knows? Your perfect home might be waiting for you just around the corner.

Buying your first home doesn’t have to be overwhelming. With the right new year’s resolutions (and a bit of determination), you’ll be well on your way to unlocking the front door to your own place in 2025. So why not start now? Create your My Pocket account, complete your affordability assessment, and make this the year you leave renting behind for good.

Happy new year!