Affordable Housing Options Become More Popular as Help to Buy Ends
With the Government’s Help to Buy scheme ending this month (March 31st), it’s predicted that affordable housing options such as shared ownership will become even more popular, to fill that gap for first-time buyers. Louise Mills, Sales and Marketing Director for shared ownership provider St Arthur Homes, said: “We’ve certainly noticed more first-time buyers through […]
Mar 29, 2023
With the Government’s Help to Buy scheme ending this month (March 31st), it’s predicted that affordable housing options such as shared ownership will become even more popular, to fill that gap for first-time buyers.
Louise Mills, Sales and Marketing Director for shared ownership provider St Arthur Homes, said: “We’ve certainly noticed more first-time buyers through our doors and exploring their options as Help to Buy comes to an end.
“Shared ownership is the ideal choice for many of them, as they can choose to buy a percentage of their new home with a mortgage and pay rent on the remaining share. That of course typically means a much lower deposit than buying 100 per cent of a new home, allowing buyers to often get onto the housing ladder much faster than they previously thought possible.
“But buying using shared ownership doesn’t mean never being able to own your own home fully. Through a process called ‘staircasing’, you can build up the percentage you own of your new home – right up to 100 per cent.
“It’s no wonder that so many people are considering this as an option now that Help to Buy is ending.”
For more information, visit starthurhomes.com.
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