Help is on hand to get on the property ladderBy Laura Herbert
February 22, 2012
People in Bracknell struggling to get on to the property ladder can get help from a range of schemes.
Bracknell Forest Council’s My Homebuy scheme can help first time buyers buy an equity share in a property.
To be eligible for the scheme, people must have continuously lived in the borough for at least five years, be a first-time buyer over the age of 18, work at least 16 hours a week, earn between £20,000 and £60,000 a year, have a good credit history.
Potential buyers must also have enough savings to cover purchase costs and a deposit for the property.
For social housing tenants, the council’s cash incentive scheme helps purchasers buy their own home on the open market with a grant of up to £38,000.
For people needing a helping hand so they can buy a low cost home ownership property, the mortgage scheme provides mortgages for residents with a deposit of five per cent.
Simon Hendey, chief officer for housing, said: “There are lots of people in the borough who are earning good salaries but because banks are demanding such huge deposits they are struggling to get a foot on the ladder.
“These schemes help first time buyers secure their first home and help support the local housing market.”
Councillor Dale Birch, executive member for adult social care, health and housing, added: “The council is committed to helping its residents find suitable and affordable housing.
“We have a range of different schemes which are suited to residents with different housing requirements, and I encourage any first-time buyers in the borough to pick up the phone and speak with someone from our housing options team.”
To find out more about the council’s housing options schemes, call the Housing Options Team on (01344) 352 009 or visit www.bracknell-forest.gov.uk