Santa Delivers Early Christmas Present For Struggling Home Buyers

Christmas could be coming early for people wanting to buy their own home as Orbit First Step is now offering many of its properties across the Midlands and the south east on an innovative rent before you buy scheme.

The scheme enables people to move into the property they want to purchase straight away as a tenant and pay a discounted rent saving 20 per cent against the current market rental rate. While they are renting, they are encouraged to save for a deposit which is one of the major hurdles for first time buyers to jump over. Part of the Orbit Group, Orbit First Step will even match the savings buyers put forward effectively doubling the level of deposit they can put down on the property.

At any time within a three year period, they can then purchase the property under the terms of Orbit First Steps New Build HomeBuy (shared ownership) scheme buying shares from as little as 25 per cent, which they can increase at any time until they own the property outright. Terms and conditions apply.

Orbit First Steps Sales and Marketing Manager, Karen Coleman said: In these times of economic gloom and with the massive reduction in mortgage products available, many people have given up hope of ever being able to buy a property. Our job is to help people into home ownership and we are just as frustrated as our prospective purchasers who are now finding that they are unable to raise mortgages to buy, when just six months ago they are less likely to have had a problem.

We believe its sheer madness for properties to stand empty when we know that if mortgages were more readily available people would be happily living in their new home. However, we are optimistic that the situation will improve and when it does, our clients will be perfectly placed to purchase their home so the rent before you buy scheme offers real hope. This really is win-win situation.

Many of Orbit First Steps prospective purchasers have been disappointed recently after being unable to secure a mortgage but are now are snapping up this opportunity and are looking forward to spending Christmas in their brand new home, knowing that they will be able to purchase in the future when the economic climate improves. If you too would like to take advantage of Orbit First Steps Rent Before you Buy scheme, please call Orbit First Step on 08458 50 20 50 for further information or visit www.orbitfirststep.org.uk where all properties eligible under this scheme are highlighted.