‘I’m 20 and bought first home while earning minimum wage – here’s how’ | Personal Finance | Finance

A young woman who was previously ridiculed by friends for being “stingy” has disclosed how she successfully purchased her first property at just 20 following years of diligent saving while on minimum wage. Tia Cordery, from Billericay, Essex, started setting money aside when she commenced an apprenticeship aged 16. Resolute in her ambition to step onto the property ladder, she consistently deposited a substantial portion of her earnings into a savings account instead of splashing out on evenings out and other leisure pursuits.

Her dedication paid off earlier this year when she secured a mortgage and bought a one-bedroom flat valued at £180,000. Tia said: “I would put half my earnings into [the app] Moneybox. I put probably £300 away every month and I had no bills and I wasn’t on a lot of money. I was [originally] on minimum wage, about £6 an hour.”

While she accumulated approximately £12,000 for a deposit, she maintains that access to specialist mortgage products proved crucial in making homeownership achievable.

Tia explained: “I only saved about £12,000 but because of the mortgage options I think it’s a lot easier for younger people to get on the property ladder, it’s just not spoken about.

“Because of my earnings I could only use specific lenders.

“I tested my figures to see if I could buy with Nationwide. As I earned over that [amount], they were able to lend me six times my income.” The now-estate agent admitted that her determination came with a social cost. While her friends were regularly heading out and spending freely, she made the conscious decision to focus on saving.

She recalled: “I remember at that time the people that I was hanging around with were calling me stingy, saying that I was tight just because I didn’t want to go out constantly spending all my money.

“I don’t speak to them anymore but it was tough. They would be like ‘let’s go out, let’s go and have fun’ and I would say ‘I don’t have a lot of money, I don’t want to do that’.

“I’ve lost so many friends because of it.”

Her career in the property sector prompted her to investigate whether getting onto the housing ladder might be within reach sooner than she had anticipated.

Tia said: “I [initially] didn’t know I could buy, but because I’m in the industry, I asked ‘can you run my figures? Can I get a mortgage?’ They turned around and said ‘yeah you can’.

“Being surrounded by properties and people moving in, all day every day, it does inspire you.”

After opening up about her journey on TikTok, she faced accusations that financial support from her family had contributed to her purchase — claims she firmly dismisses.

She said: “I’ve always been a worker because my family couldn’t afford for me to have much stuff so I had to pay for it myself.”

Tia now urges others to begin setting aside whatever they are able to afford.

She said: “Open the account, even if you save £50 a month just put in what you can and it will all add up in the end.

“I think if you really put your mind to it then you can.”