Orbit HomeBuy Agents events highlight the need for affordable homes
Published by Kristen Boho for Orbit HomeBuy Agents in Housing
A recent series of events hosted by Orbit HomeBuy Agents has demonstrated that there is a high demand for affordable housing and that home ownership is still the preferred option for many people.
The events, in partnership with Aspire Housing, took place in Newcastle Under Lyme on the 16th and 18th April with the aim of raising awareness of the variety of low cost home ownership schemes available across Staffordshire.
Janet Smith and Olwen Ryan were the Orbit HomeBuy Agents representatives at the events. ‘Many visitors had thought that home ownership was out of their reach but were pleasantly surprised when they found that we may be able to help’ said Janet.
‘There is a range of HomeBuy initiatives available including HomeBuy Direct, HomeBuy Shared Ownership and Rent to Buy. Each scheme works in a different way so there’s usually a HomeBuy scheme to suit everyone.’
HomeBuy Direct allows buyers to purchase a new home with the help of equity loans provided jointly by the house builder and the government. The equity loans equate to up to 30% of the of the property value and there’s no interest to pay for the first five years.
HomeBuy Shared Ownership allows you to buy a share in a home and pay a discounted rent on the remainder. The share you purchase is determined based upon your income and savings, meaning that you buy a share that you can afford and take out a smaller mortgage than you would if you bought your home on the open market. With most shared ownership homes, if you wish you can purchase extra shares in the future until you own your home outright.
The Rent to Buy scheme allows you to move into a brand new home whilst paying a discounted rent so that you can save up a deposit to buy the property at a later date. Some Rent to Buy schemes even help you to set up a savings plan and will match what you have saved (within certain limits) when you decide to buy the property.
Karen Coleman Head of Orbit HomeBuy Agents said ‘There are so many aspiring buyers who we could help but they wrongly believe that they might not be eligible. If you have a household income of less than £60,000 and cannot afford to buy a home on the open market that suits your needs then we would urge you to get in touch with us to discuss your options’
For further information about low cost home ownership schemes in your area please call Orbit HomeBuy Agents on 03458 50 20 50 or visit www.orbithomebuyagents.co.uk