Alternative ways to buy a home

Buying a home in 2022 can be tough but with several different schemes now available to help get you on the property ladder, buying your first home doesn’t have to be tough. With plenty of ways to buy your first home, you don’t have to simply stick to putting down a deposit and getting a mortgage.

Shared ownership

One of the best ways you can get on the property ladder these days is through shared ownership. Contrary to what the name suggests, with a shared ownership home you won’t have to share with anyone, in fact buying a home on your own without a partner is made a lot easier with shared ownership. You can buy between 10% and 75% of a home and rent the rest from a housing association. This means you only have to get a mortgage for the share you want to own so this is significantly less than if you bought a home without the scheme. You can also buy more of your home overtime and increase the amount of shares you own. What’s also great about this scheme is you only have to put a deposit down on the share you want to own and this can be as little as 10% of the 10% share you’re looking at buying. Shared ownership offers flexibility and accessibility to homes all over the UK, from shared ownership homes in Hampshire to shared ownership apartments in Maidstone.

Help to Buy

This scheme is a great way to buy a home if you want to own your home straight away. Help to Buy allows you to put down a 5% deposit and obtain a 20% equity loan, or 40% equity loan in London. This means you won’t have to ask the bank for a heft deposit as this amount will be between 75% or 55% of the home. Help to Buy is great if you want to buy a property in London or you simply want to get on the property ladder without having to put down a huge deposit. Help to Buy offers brand new homes from bigger family properties available in Canterbury to apartments for sale in West London.

London Boroughs

If you simply don’t know where to start your search when it comes to finding the perfect property then London Borough should definitely be at the top of your list. London boroughs are quickly being reshaped into the perfect commuter paradise with South London offering shared ownership homes in Sevenoaks. With garden cities also becoming increasingly popular across the London area, shared ownership homes in Dartford and Ebbsfleet are the perfect young professionals haven. With great transport links, plenty of new businesses and job opportunities as well as a range of bars and restaurants, London Boroughs are perfect if you’re looking for a London home without the huge prices. These boroughs are teeming with housing schemes and helping hands onto the property ladder and brand new homes.

Whether you plan to get on the property this year or it’s simply a plan you have for the future, get to know your options and you may just be surprised. With plenty of ways to buy a home 2022 could be your year.

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