A housing association is buying new homes off housebuilders then offering them to would-be homeowners through a 25-year payment plan, without the need for a deposit or traditional mortgage.
The product – aimed at first-time buyers and long-term renters – was launched last year by housing group, Gentoo, and has already helped nearly 50 households into homeownership. It’s also lowering the age of homeownership with average purchasers age 25, compared to the national average of 30.
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