Many millennial’s are coupling up in order to purchase their first property and are under the impression that they cannot do it alone.
A third of Brits believe that in order to get onto the property ladder they will need the added benefit of another person’s salary and are therefore coupling up with partners, friends or family members to fulfil their dream of owning a property. It’s also reasonable to consider that by doing this, they will reduce their monthly outgoings by half but getting onto the ladder may outweigh this benefit for some.
A Help to Buy equity loan can turn singletons lives around, without the waiting or excessive saving. When it comes to taking the plunge, women are less confident than men, with women waiting 5.31 years and men waiting 4.51 years. Buying a new development associated with the scheme is a simple application process and if accepted, the government will lend you 20% of the purchase price providing you also have a 5% deposit.
At Fortitudo, we offer Help to Buy on all of our developments. We pride ourselves on giving first-time buyers the opportunity to purchase luxury homes. If buyers are already renting it also makes it possible for them to get out of the renting rut, as a monthly mortgage is most probably cheaper than renting costs.
To view Fortitudo’s developments visit fortitudoproperty.com.
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