A Guide to Getting on the Property Ladder

Cambridge isn’t just famous for its university—it’s fast becoming the UK’s “Silicon Fen,” a hotspot for innovation, science, and tech. From start-ups to global players like AstraZeneca and Arm, the city is attracting a growing population of young professionals eager to live and invest in the area.

If you’re working in Cambridge’s booming tech sector and thinking about buying your first home, you’re not alone. But with rising house prices and competitive demand, it pays to understand how mortgages work—especially if your income comes with stock options, bonuses, or a short employment history.

In this guide, we’ll break down your options and give you smart, practical advice on how to navigate the mortgage process as a young professional in Cambridge.

Why Cambridge Is a Unique Market

  • High demand, low supply: Property prices in Cambridge remain among the highest outside London due to strong demand and limited housing stock.
  • Fast-paced career growth: Many tech professionals are young, well-paid, and rapidly progressing—sometimes with less than two years in their current role.
  • Complex income structures: Bonuses, RSUs (restricted stock units), and equity packages are common, but not all lenders know how to handle them.

The key is to find a mortgage lender who understands the nature of your income and future potential.

Common Challenges for Tech Professionals

Even with a strong salary, some young buyers hit hurdles due to:

  • Short employment history (especially if recently graduated or switched jobs)
  • Probation periods
  • Variable pay from bonuses or equity
  • Limited credit history (particularly for international hires or those new to the UK)

The good news? There are lenders who specialise in exactly these situations.

What Lenders Look For (and How to Strengthen Your Application)

✅ Employment & Income

  • Most lenders like to see at least 3–6 months of employment, even if you’re still in a probation period.
  • Bonuses and RSUs can be considered—some lenders average variable income over 1–2 years, while others will use a percentage of your total package.
  • If you’re on a fixed-term contract or self-employed, there are lenders who understand tech industry roles and freelance project work.

✅ Deposit Size

  • A 10% deposit is usually the minimum, but having 15% or more can give you access to better rates.
  • If you’re using a gifted deposit (e.g., from family), this is acceptable to many lenders, with a declaration letter.

✅ Credit Score

  • A strong credit score helps—but don’t panic if yours isn’t perfect. Start by:
    • Registering on the electoral roll
    • Using a credit card and repaying in full
    • Checking your report for errors (via Experian, Equifax, or ClearScore)

First-Time Buyer Schemes Worth Exploring

  • Lifetime ISA (LISA): Save up to £4,000 a year with a 25% government bonus, ideal if you’re planning ahead.
  • Shared Ownership: Buy a share of a property (typically 25%–75%) and pay rent on the rest.
  • Help to Buy resale: Although the scheme is closed to new builds, some existing Help to Buy homes are still available on the resale market.

Why Working with a Mortgage Broker Can Help

Cambridge’s tech talent is in high demand—but that doesn’t always translate into straightforward mortgage approval. A broker can:

  • Match you with lenders who understand tech salaries
  • Help explain your bonuses, RSUs, or startup equity
  • Guide you through schemes available to first-time buyers
  • Save you time and stress by managing the whole process for you