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Affordable Housing, Homebuy and other Government lead schemes
homefocus
Posts: 2 Newbie
I wont lie to you all - i work for a magazine that is designed to raise the profile and awareness of affordable housing schemes. However my question to you all is still valid....if you are looking to buy a house at the moment then have you considered the various government lead affordable housing schemes. These schemes are designed to help first time buyers earning up to £60k per annum and those who quite simply cannot afford to buy on the open market. If you havent heard of or checked these schemes out in any detail then checkout homefocusmagazine.co.uk
If you have considered Homebuy then i'd love to hear your thoughts on the schemes.
Thanks!
If you have considered Homebuy then i'd love to hear your thoughts on the schemes.
Thanks!
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Comments
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My favourite affordable housing scheme is the one where Labour get booted out of government, the massive squandering of borrowed money on propping up the housing market stops and house prices drop to their sensible, natural level.0
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They're not designed to "help" first time buyers. They're designed to "help" house prices and developers.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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i went to one of their open events in a town near me. it seemed that they had no schemes which would apply to me as i earn just under their threshold of 20k, although would have a 20% deposit. they prefered a higher wage and no deposit.
the IFA calculated that i could possibly get a 80k mortgage, then if you add 80k for shared ownership, it would give me 160k to play with. unfortunately one bed apartments in my area are 180k+, so it was a bit pointless.0 -
hit the spam button.Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.0
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First time buyers earning £60k pa shouldn't need help to buy a house.0
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Response to Adi770 - ftb earning £60k in London would need help in some of the more expensive areas
Response to anotherginger - the IFA seems to have been basing his calculations on the purchase of a 50% share. These days most of the schemes are offering purchase of a 25% share to start (due to the climate) and some are even doing rent to homebuy. you rent a property for between 6 months and 3 years at 80% of the market level rent which enables you to use the extra cash you save to build up a deposit. If you are lucky your salary could also go up in this time and give you a much better chance of getting a better mortgage.0 -
Response to Adi770 - ftb earning £60k in London would need help in some of the more expensive areas
Response to anotherginger - the IFA seems to have been basing his calculations on the purchase of a 50% share. These days most of the schemes are offering purchase of a 25% share to start (due to the climate) and some are even doing rent to homebuy. you rent a property for between 6 months and 3 years at 80% of the market level rent which enables you to use the extra cash you save to build up a deposit. If you are lucky your salary could also go up in this time and give you a much better chance of getting a better mortgage.
Why not buy in one of the less expensive areas then?0
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