First-time buyers and halal home finance explained

Buying your first home is exciting. It’s a time of possibility, imagining your future, the plans you’ll make and the life you’ll build in a place of your own. It’s a major milestone and financial commitment, but it can also bring mixed feelings. Between rising house prices and the challenge of saving for a deposit, it’s common to feel overwhelmed before you’ve even started.

Table of contents

• What we heard at MTF 2025
• The data confirms it: Our community is underserved
• StrideUp’s model resonated deeply
• More than a moment – a movement
• The data confirms it: Our community is underserved
• So, what’s next?

Getting Started

First-time buyers don’t all start from the same place. That’s why clarity, guidance and realistic information matter so much at the beginning. Having the right information early on can help you understand how the process works and make the journey feel more manageable.

Deposit Considerations

For many first-time buyers, saving for a deposit is the biggest initial hurdle. Balancing rent, bills and everyday expenses can make saving for a deposit feel challenging. In some cases, different deposit requirements may apply depending on individual circumstances and eligibility.

In certain situations, additional support may be available, such as gifted deposits from family or friends, subject to the usual checks. The amount that can be financed is assessed on a case-by-case basis and depends on affordability and eligibility at the time of application.

Application Assessments

Every application is reviewed individually, so what may be available will always depend on your personal circumstances, (approval is not guaranteed and will always depend on meeting our eligibility criteria and affordability assessments at the time of application). Our aim is not to offer a one-size-fits-all approach, but to apply criteria that reflect a wider range of situations where appropriate, while maintaining responsible lending standards.

Income and Affordability

While deposits are an important consideration, the way income is assessed can also play a role for first-time buyers.

Many people’s working lives are not always straightforward. Some balance multiple jobs, work on contracts, or run their own businesses. StrideUp considers a range of income types as part of its assessment process. Employed and self-employed income may be taken into account, subject to verification and affordability checks.

Each application is reviewed individually to build a fuller picture of a customer’s circumstances, rather than relying on a single income pattern.

Credit Considerations

Past financial challenges can also make homeownership feel out of reach. But a missed payment or previous difficulty does not automatically prevent first-time buyers from exploring their options.

Credit history is reviewed in context as part of a broader assessment. Outcomes depend on current circumstances, affordability and the full financial picture at the time of application.

Joint Applications

Just as financial circumstances vary, some people choose to apply with others. Partners, family members or friends may apply together where appropriate and up to four applicants could be included on a single Home Purchase Plan application, subject to eligibility.

Tools and Support

Support includes more than just finances. First-time buyers often need clarity as much as funding, particularly in the early stages. Tools such as home finance calculators can help you understand how the process works, while speaking with an adviser can provide guidance tailored to your circumstances.

When it comes to the legal side of buying, professional support is available and suggested solicitors can help guide you through the process if needed. Throughout the process, questions and guidance are available to help you understand each step.

Next Steps

Ultimately, StrideUp is designed around the needs of first-time buyers. By combining case-by-case assessment, clear information and structured guidance, our aim is to help you understand your options and support your next steps.

If you’re beginning to explore buying your first home, you can take the next step at your own pace. You may choose to explore how the process works, speak with an adviser about your circumstances, or find out whether this approach may be suitable for you, subject to eligibility, with no obligation.