Posted: 26 Apr 2018
#First Time Buyer #New Home A closer look at how this impacts first time buyers
The latest house price index data from Halifax found that the average property price in the UK increased 1.5% in March to £227,871, the highest price ever recorded by the index.
Furthermore, property prices don’t show any sign of slowing down. In the next few months, Halifax expects to see prices grow by 3%, fuelled by the continuing shortage of properties available on the open market.
With purchasing a home on the open market continuing to remain unaffordable to many, Shared Ownership remains a fantastic solution for first time buyers looking to take their first step onto the property ladder.
Shared Ownership allows first time buyers to own a share of a property, typically 25%, which makes it a more affordable option than buying a home outright.
Furthermore, Shared Ownership mortgages typically require a smaller deposit than a regular house purchase. The Shared Ownership scheme also allows home owners to increase their share all the way up to 100%, at a time and pace convenient for them.
For more information on purchasing your
first home with Shared Ownership, click here.
Are you looking for a stylish and modern home?
Southern Home Ownership is dedicated to providing stylish, high quality and contemporary new homes for sale on a Shared Ownership basis.
If you're a first-time buyer and interested in owning a Shared Ownership property in London and the South East then click on this link to take a look at our