We’re proud to support the largest community of aspiring first-time buyers in the UK and we’re committed to giving them a voice, to ensure that their needs and lived experiences are understood by those responsible for shaping policy and product design. Most recently, we headed up to Liverpool to do this at the Labour Party Conference, co-hosting a panel discussion with Progressive Britain – a think-tank that helps shape Labour Party policies.

Diving into the unique challenges and key solutions uncovered in our ‘Voice of FTBs’ White Paper, a panel of MPs, cabinet members and councillors brought their perspectives on how to effectively champion first-time buyers in the policy landscape.

 

The panel 

  • Chair: Karen Kerrigan, Chief Operating Officer, Moneybox
  • Shama Tatler, Councillor for the London Borough of Brent 
  • Luke Charters, MP for York Outer
  • James Frith, MP for Bury North
  • Connor Rand, MP for Altrincham and Sale West
  • Sam Carling, MP for North West Cambridgeshire

 

Hearing the voice of first-time buyers

The discussion focused around the need to ensure the dream of homeownership becomes a reality for first-time buyers across the UK, enabling them to build future wealth and financial security. Drawing on their personal experiences, as well as those of their constituents, friends and family members, the panel reflected on how Labour’s plans for economic growth could support first-time buyers and the importance of ensuring their voices are more clearly heard in future policymaking.

Panellists called out the importance of supply-side action and building more affordable homes, but also the need to go further by making a greater number of these homes accessible to first-time buyers. It was agreed that equipping first-time buyers with access to the right products, financial education and support to realise their homeownership goals is of equal importance. The panel went on to discuss the role of government-backed schemes and products and how we can work to make sure that the design of these effectively supports the next generation of homeowners in the UK.

Picking up on specific challenges highlighted by the ‘Voice of FTBs’ White Paper, panellists noted how these challenges play out in their constituencies. As the discussion wrapped up, Karen Kerrigan opened the floor for audience questions. Thoughtful questions were asked around the opportunities presented by private landlords leaving the market, better support for graduates leaving university and facing housing challenges, as well as how to practically enable housebuilding targets locally, and ensure first-time buyers earn a fair return on their deposit savings.

 

Our ‘Voice of FTBs’ White Paper

The backbone of the discussion was our ‘Voice of FTBs’ White Paper, launched at the Labour Party Conference. Building on our ongoing campaign work with policymakers and the wider industry, we surveyed 4,000 aspiring first-time buyers and 500 recently successful first-time buyers across the UK, to understand the challenges they face and their unique lived experiences. 

Far too often, FTBs are thought of and treated as one homogeneous group, but their paths to homeownership are far from uniform. As a result, the needs of FTBs in the UK have been sidelined for far too long, and the consequences are becoming stark. Our research uncovered a growing number of challenges that, if left unaddressed, risk deepening economic divides and could undercut the very foundation of wealth creation in our society.

This research aims to shine a light on the areas the new Labour government and wider industry should prioritise, to offer FTBs meaningful support to realise their dream of home ownership and, importantly, build wealth for their future.

Read the White Paper