Helping first time buyers onto the property ladder

First time buyers looking at houses for sale in an estate agents window.
First time buyers looking at houses for sale in an estate agents window.

First-time buyers in Calderdale are invited to an open day to find out about affordable ways to get on the property ladder.

The focus is on ‘shared ownership’ and Calderdale Council is working with local housing providers to encourage more people in the borough to take up this option.

Shared ownership schemes are mainly aimed at first-time buyers who are struggling to pay for a mortgage on 100 per cent of a home. Instead they buy a share of their new home, starting at 25 per cent, and pay a discounted rent on the remaining share. There is the option to buy a bigger share later on.

Councillor Daniel Sutherland, Calderdale Council’s cabinet member for planning, housing and environment, said: “Shared ownership is a great way to get a stake in a home when you can’t afford or can’t borrow enough to buy outright. Giving more people access to affordable homes is a key part of our priority to reduce inequalities in Calderdale.”

A new shared ownership housing scheme in Southowram was completed by St Vincent’s Housing Association last December.

Rachel O’Connor, Development Manager for St Vincent’s said: “St Vincent’s has a long history of working with the Council to provide affordable housing solutions in the borough. The new homes at New Street represent a fantastic opportunity for local people to buy a quality home at a reasonable price.”

People can find out more about shared ownership through an open day at the scheme, at New Street, Southowram, on Saturday, February 25, from 10am until 12 noon. To register your place on the open day, call the housing association on 0161 772 2120.