Nearly three quarters of 16 to 34 year olds polled in East Homes’ annual My Home survey think that the part-buy, part-rent scheme known as New Build HomeBuy will soon be the only viable option for them.
“It’s a startling statistic which could have major implications for the nation’s property ownership habits,” said Kate Worley, head of sales and lettings at East Homes, part of the East Thames Group. “It’s essential first time buyers continue getting on the ladder and they could find a level playing field again after years of out-of-reach prices.
“Part-buy, part-rent is one of the few options for first time buyers who can’t afford the huge deposits currently necessary for homes on the open market. There’s still flexibility in the mortgage deals available, with some lenders continuing to offer mortgages up to 100 per cent, so it’s a good option for people who still aspire to buy their own home.”
