'More options for first time buyers'

18-Sep-2006

Breaking First Time Buyer News from FirstRungNow: First Time Buyers have an increasing range of options available to help them to get onto the first rung, according to a report.

Despite concerns regarding affordability for first time buyers, housing website smartnewhomes, indicates that housing associations are introducing schemes to lend a hand.

The starter homes projects come in addition to key-worker schemes, reports firstrung and allow first time buyers to buy on a part-rent-part-buy basis.

For example, Southern Housing is offering to buy 30 per cent of the full market value of one bedroom homes in Lewis Gardens, Hackney.

David Bexon, managing director of smartnewhomes, indicated that house price inflation is causing aspiring homeowners to struggle.

"However, there are a growing number of new homes available that are designed with this struggling group in mind - with many new properties on our site available for less than £50,000," he said.

Southern Housing is one of the south of England's largest housing associations, handling over 45,000 residents.

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