Help available to first time buyers

Statistics, recently collated in a survey by property website ‘new-homes’, has shown that a staggering 89 percent of 18-34 year olds who currently don’t own a property wish they could with 74 percent perceiving it to be harder now than five years ago.

And, whilst these figures don’t make particularly pleasant reading for young prospective homeowners and families, measures are being introduced to re-invigorate the housing market and present purchase opportunities particularly for first time buyers. These include a range of initiatives from award winning house builder Miller Homes.

“We recognise that buyers, particularly those looking to take a first step onto the property ladder, have found themselves in challenging situations and we continue to find new ways in which we can help,” commented Steve McElroy sales director Miller Homes Yorkshire. “One initiative that we have embraced is the Government backed ‘FirstBuy’ which helps first time buyers in the form of an equity share scheme.”

Buyers qualifying for the scheme will have the opportunity to select one of the Firstbuy properties available and will be able to purchase one hundred percent of their home by paying up to eighty percent of the value now, with both Miller Homes and the Government equally funding the remaining twenty percent in the form of an equity loan.

“Since the launch of FirstBuy the Yorkshire region has seen high levels of demand,” said Steve. “Buyers are delighted that they are able to not only get financial assistance but also seize the opportunity to move into a brand new home offering them long term security and stability.”

The initiative is available to buyers with less than £60,000 annual income and do not currently own a property. Selected properties, at nine developments throughout the Yorkshire region, are available using FirstBuy.

For further information, visit millerhomes.co.uk.