Today in the UK you may have noticed that #housingday is trending on Twitter/Facebook and other parts of the internet world. Over the past 20 years the rate of housing developments have dropped yet the population has risen. Many council houses were sold to tenants at extra low rates and so the amount of affordable housing slowly dropped. On various news outlets all I seem to hear is doom and gloom about how hard to is for first time buyers these days. I say rubbish, there are lots of ways to get on the property ladder and now is a great time to achieve this. Below are three ways to get on the property ladder with ease….

1. Help to buy ISA…. In a nutshell the government will add 25% to the amount you save, so if you save £200 then the government add £50. Every little helps ey!

2. Shared ownership….. If you are struggling to save the deposit to buy (especially if your currently renting) a shared ownership is the way to go. You basically buy a percentage of the house and rent the other half through a housing association. You can buy extra shares of the house whenever you are ready. Most people tend to start at 50% but there are schemes as low as 25% shares.The only downfall is that repairs to the building are completely your responsibility, but lets face it if your end goal is to own the whole house may as well get used to it i say haha.

3.Equity loan….. Basically the government lends you up to 20% of your newly built home, that is then added to 5% of the deposit you come up with yourself and 75% mortgage guarantee. You are not charged loan fees for the first five years.

 

So there you have it, many options available and lots of companies out there doing these schemes. For more information the government has a great website www.helptobuy.gov.uk

Have you had any experience with a help to buy schemes i would love to hear from you on twitter, facebook or email.

Have a great day

Muchos love

Mrs M

 

FacebookTwitterGoogle+WhatsAppCopy LinkEmailShare