Great Value for Affordable Home First Time Buyers More and more First Time Buyers are going through the ‘Affordable Housing’ route to get on the property ladder and are acquiring fantastic apartments and houses at great value. Affordable Homes are properties made available at a discount to the price that would normally be paid if the house was bought on the open market. Affordable homes are provided on the basis that you will live on the property and not use it for any other purpose. To qualify there are some basic criteria you must meet: • You must be a first time buyer but there are some exceptions. (for example purchasing after a divorce) • You must have enough income to meet your mortgage repayments after you have paid all your other monthly outgoings. • You must register with your local authority and if you are accepted they will add your name to the ‘Affordable Housing Newsletter’ with the list of developments available. • From this list you can select the properties you are interested in and you will be included in a draw. • If you are selected and you agree to buy a property from the draw, you must then get a mortgage or loan to proceed with the purchase. • At that point you can start arranging your mortgage and there are currently six lenders offering mortgages to this type of purchaser. • 100 off market value. We at White Star Mortgages will arrange Approval in Principle so you have the peace of mind that you will qualify should your name come up and we will then take you through the steps to Loan Offer and completion ensuring the process is as simple and hassle free as possible.
