Orbit helps thousands buy first home

Around 1,000 people a month are applying to Orbit HomeBuy Agents as the first step in securing an affordable home. This is a fantastic start to the company’s two year contract as the gateway to affordable housing in its six areas of operation.

Orbit has been the HomeBuy Agent for Norfolk and Suffolk since April 2006 and this year it won additional contracts to operate across Bedfordshire and Cambridgeshire; Coventry and Warwickshire; Hereford and Worcestershire; Staffordshire and Shropshire; and Birmingham, Solihull and the Black Country.

In the first six months since it became the largest HomeBuy Agent in England – from April to September 2009 - the company approved a total of 5,955 applications for a range of Low Cost Home Ownership products designed to help people who are unable to afford to purchase on the open market. These include New Build HomeBuy, Rent to HomeBuy, HomeBuy Direct and discounted market rent.

More and more people in a variety of housing situations are realising that the organisation that they need to contact is Orbit HomeBuy Agents for advice. Whether you are a first time buyer, a key worker, someone looking for a new home following a relationship breakdown or you are in need of a larger home to accommodate a growing family, providing you have an annual household income of less than £60,000, Orbit HomeBuy Agents may be able to help you.

Statistics gathered between April and September show a pretty consistent picture across all areas of operation.

The majority of HomeBuy applicants’ household income (40 per cent) is within the £20,001 to £35,000 bracket, with those bringing in less than £20,000 closely following at 35 per cent. Those with a household income of between 35,001 and £50,000 make up 24 per cent of applicants with just one per cent having a household income of more than £50,001.

Most applicants are either currently private tenants (34 per cent) or living with family and friends (32 per cent). Social tenants and owner occupiers make up seven per cent each and 20 per cent fall into the category ‘other’. In terms of property size, around half of all applicants (51%) are seeking 2-bedroomed accommodation. Three-bedroom properties account for around a third of applications (32%) with 13 per cent requesting a one-bedroom property, four per cent requesting a 4-bedroom home and just one per cent falling into the category ‘other’.

By far the biggest age group are those between the ages of 30 to 39 – this group makes up 48 per cent of the total. Those aged between 18 and 29 are the second largest group with 26 per cent of applicants and 21 per cent are between 40 and 49 years. The smallest group - just five per cent of applicants - are aged between 50 and 59.

Orbit HomeBuy Agents Team Manger, Karen Coleman said: “We are absolutely delighted to have had the opportunity to help so many people find a home that they can afford, whether they are purchasing or renting. We’ve helped hundreds more people since September and we will continue to do everything we can to match as many applicants with properties as we can in the months ahead.

“Our statistics clearly show that we are able to help a wide range of people in all sorts of circumstances, so if you are seeking an affordable home, please get in touch with us. We can quickly assess your eligibility for HomeBuy and you could soon be moving into the home you’ve been dreaming of.”

For further information on the HomeBuy products or properties available through Orbit HomeBuy Agents, visit orbithomebuyagents.co.uk.