Affordable Housing Options – First Time Buyers

New Build HomeBuy
Also known as a shared ownership scheme, a part-buy part-rent scheme, aimed at helping first time buyers get on the property ladder.The option is available for people to buy more shares of the property for those who can afford it. All homes for sale on this scheme are new builds.

Open Market HomeBuy
The remaining 25 per cent of the property is bought using interest-free loans from the government and approved lenders. On sale of the property by the home buyer or failure in meeting the eligibility criteria, then the loan has to be paid back.

Social HomeBuy
This allows social housing tenants to buy their current social housing home on a shared ownership basis with the benefit of a discount. But not all social landlords offer this option.

Similar to Open Market HomeBuy but for first time buyers purchasing a home that has been built as part of a First Time Buyer Initiative development. Under this initiative, the homes are bought with an affordable mortgage and government assistance. When the home is sold the government is entitled to a share of the sale proceeds.

Intermediate Rent
This offers people the chance to acquire a new or refurbished home with rent subsidised by 80% in comparison to what a private landlord would normally charge.

Bitcoin: 1BJbBAvdNHcZPZBnaFpyExUmAD9H1crosU



If you enjoyed this article FEEL Free to TIP My First Home Blog:

Any Amount Welcome 🙂

Dash: XmARRjJ9y2zUUgiPWPMrjviWWCvpuogwKd

Dogecoin: D5vAJ9ydfsNX1VE6e93Wh16gmUfVSUSKQq

Bitcoin: 1BJbBAvdNHcZPZBnaFpyExUmAD9H1crosU

Bitcoin Cash: 1Q8njMG4LPqFYthtNu6rq2Rbq9JqKXaPg1

Ethereum: 0x60454606e1f66C09e4fD7977b844718b683B2836

{ 0 comments… add one }

Connect with Facebook

Leave a Comment


Related Posts

How to buy a house with no money down
How to buy a house with no money down - Buying a house on installment terms or through mortgage always poses a problem of coming up with a down p...
Get The Most For Your Money When Buying Real Estate (Real Estate Buying)
Get The Most For Your Money When Buying Real Estate (Real Estate Buying)If you want information concerning purchasing real estate, you've come to...
Tips And Tricks For Real Estate Investment Success
Tips And Tricks For Real Estate Investment SuccessReal Estate Investment - Getting started investing in real estate as a career is something that...
powered by RelatedPosts