For most first-time buyers in the UK, the problem with housing is no mystery. House prices feel impossibly high. Rents continue to rise, swallowing income that could otherwise be saved for a deposit.
Government support, while often well-intentioned, is limited, slow, or simply outpaced by reality.
Last month’s Budget was a reminder of that. There was little to materially change the outlook for renters hoping to buy — what is the point of building all these new homes if no one can afford to buy them? But the deeper truth is that housing affordability has been drifting out of reach for years, across governments and economic cycles.
That is why people like me have stepped in.
I am the CEO of HomeNow, a regulated housing business built around a simple idea; if traditional routes to home ownership no longer work for large parts of the population, then new ones need to be created. Not talked about endlessly or promised vaguely, but designed, regulated and delivered in the real world.
HomeNow exists to serve the “squeezed middle” — people who earn decent salaries, work hard and contribute fully to the economy, yet sit in a blind spot when it comes to housing support.
They earn too much to qualify for government schemes or housing support, but not enough to save a meaningful deposit while paying high and rising rents. These are professionals, young families and key workers locked out of ownership not through poor choices, but through a system that no longer works as intended.
A credible alternative to long-term renting
Our mission is to help this group escape the rental trap by turning rent payments into a genuine pathway towards owning a home.
Recently, we launched our two-year Home Purchase Plan for new-build homes, working directly with developers to remove many of the upfront barriers first-time buyers face.
Under the plan, HomeNow buys the home and the resident moves in immediately, paying a monthly amount while building the ability to buy the property outright within an agreed two-year period.
Crucially, when they do purchase, we refund an amount equivalent to five per cent of the home’s value, helping turn rent into a meaningful step towards ownership.
Just days ago, I visited some of our first residents who have moved into their new homes in Deeside, near Chester. Many had been renting for years and had all but given up on ownership.
What struck me most was disbelief. Several people told me it felt “too good to be true”. That reaction matters. It says a lot about how broken trust has become in housing.
Rebuilding trust in housing
Too many schemes sound promising but fail to deliver. That is why HomeNow is fully regulated by the Financial Conduct Authority. Regulation is not a box-ticking exercise for us; it is central to credibility and consumer protection.
We are currently the only company offering an FCA-regulated two-year Home Purchase Plan of this kind.
The private sector is often criticised when it comes to housing, sometimes justifiably.
But it is also where much of the meaningful innovation is now happening. When policy cannot move at the speed of the problem, responsible businesses have a role to play.
That means building solutions that are fair for consumers, commercially sustainable and capable of scaling, rather than relying on temporary fixes.
HomeNow is still early in its journey, but our ambition is clear. We are funded by private capital and institutional investors to buy up to 800 homes over the next two years, increasing supply while offering first-time buyers a credible alternative to long-term renting.
Our focus on new-build homes is deliberate: it provides scale, delivers high-quality, energy-efficient properties and gives buyers stability from day one.
Importantly, our ambition goes beyond getting people onto the ladder. We also want to help them stay there.
For many first-time buyers, reaching ownership is only part of the challenge; navigating the mortgage market can be just as daunting.
That is why we are building partnerships with lenders to help residents access competitive mortgage products when they are ready, alongside the option of a HomeNow-specific mortgage if they so wish. The aim is choice, continuity and confidence — not lock-in.
Could schemes like this one day become government-backed?
Possibly. There is nothing wrong with private initiatives forming part of a broader public framework. But housing does not need a single solution. A healthier system includes social housing, private renting, traditional ownership, public schemes and private-sector innovation working together. That diversity is a strength.
What is needed now is stability and clarity. Government can help by supporting long-term investment and recognising the housing system as a mixed ecosystem. Above all, we need to stop pretending that yesterday’s tools are sufficient for today’s challenges.
When I left Deeside, what stayed with me was not a policy debate, but people standing in their own front rooms talking about futures that suddenly felt possible. Home ownership should not feel miraculous, or suspicious. It should feel achievable.
If the current system does not deliver that, then it is time to build new ones. That is why HomeNow exists — and why private-sector innovation has a vital role to play in fixing one of the UK’s most persistent challenges.
