You’d like a smaller deposit and lower mortgage payments?

LONDON - Sept. 24, 2014 - PRLog -- The property boom is spreading out of London and the south east with hotspots in York, Exeter, Cambridge, South Lakeland, Herefordshire and Christchuch in Dorset. In more than half of the country fewer than one in ten homes on the market is affordable for a young family trying to buy their first home.’

It’s not the role of homefocus magazine to consider why the problem exists or how it can be resolved in the longer term, but it is our view that those of you aspiring to become homeowners should be persistent and creative in pursuing your dream. And we hope that the information and the success stories you find on the following pages will inspire and help you to do just that.

At the same time, be realistic! Just a 5% deposit will make it much more likely that you’ll be able to consider the first step onto the ladder. But it will also mean that you’ll need to accept higher monthly mortgage repayments. Buying a share of a shared ownership home will mean paying a rent (albeit subsidised) as well as paying your mortgage. And buying with a flat-mate has implications that could take practical decisions out of your control. You’ll find some differences between buying a share and ‘sharing to buy’ outlined on pages 48 & 49 of the issue (available to see online here http://www.homefocus.co.uk/Homefocus-magazine).


But don’t lose heart. One of the schemes outlined in homefocus might just get you the home you want, in a way you can afford.