UK house prices have risen over 130% in the past 10 years, for many prospective buyers it feels that getting on the housing ladder is beyond their reach. However despite the extravagant house price levels it is still possible for first time buyers and others on low incomes to be able to get a mortgage and buy your first house. Suggestions for getting a mortgage on a low income 1. Save a deposit. It might be difficult if you are paying monthly rent, however if you are disciplined to put away money each month over time this builds up and enables you to put down a deposit. Generally the bigger deposit you get the more chance you have of getting a good mortgage deal. If it is very difficult to save a sufficient deposit you could ask friends and family for a loan. However this approach may well have its drawbacks; you need to be able to have a good financial relationship with the person. 2. 100% Mortgage. If you are unable to save a deposit you can still get a mortgage by getting a 100% mortgage. Although these tend to have higher interest payments and may require Mortgage indemnity guarantees. 3. Joint Mortgage. Joint mortgages or co ownership mortgages have become increasingly popular in recent years as a practical solution to the difficulty of getting a mortgage on a relatively low income. Joint mortgages enable you to share the cost of a mortgage with another person (possibly more than 1). This then allows the building society to give a bigger loan. 4. Look at Affordability. Increasingly building societies will judge the size of a maximum loan amount depending upon affordability rather than income. This means that if you can reduce your monthly expenditures, you have a better chance of getting a mortgage. Similarly they will look at other debts you have and see the monthly repayments you need to make on these. If you are really keen to get a mortgage it may require some frugal expenditure to reduce monthly mortgage income. Once you get your first mortgage you can be a little more relaxed. However just before getting a mortgage you should try your hardest to reduce expenditure as much as possible. This enables you to present the best possible financial situation to a bank. 5. Self Certification Mortgage. This is probably the best option to get a mortgage much bigger than your income. You have to be careful in the sense that if you borrow too much and then interest rates rise, or your income falls a little you may be unable to meet the mortgage payments and your home could be repossessed. R.Pettinger is an Economics teacher at Oxford and writes frequently on the UK economy and mortgages. He edits a site about Mortgages including a guide to different types of mortgages For latest news on the UK housing market and UK mortgages see: UK Mortgage News