VIDEO: Advice for first time Horsham buyers at Kilnwood Vale

First-time buyers who fear they are missing out on the chance to own their own home are being invited to meet independent experts this Saturday May 10.

A free drop-in advice service will be available at Kilnwood Vale in Faygate with impartial guidance and information about the new shared-ownership development.

Shared ownership (submitted)

Shared ownership (submitted)

It is being hosted by Southern Housing Ownership in partnership with local independent mortgage advisor, That Mortgage Place, to help first time buyers in the area understand their options.

The event has been organised in response to a survey which found more than two-thirds of would-be first time buyers in the area were missing out on home ownership due to lack of awareness and understanding about the affordable options available.

The survey was carried out amongst 18-50 year olds living across Surrey and Sussex, and highlighted a staggering 77 per cent of would-be first time buyers cannot afford to buy a home outright locally. However, 63 per cent were not aware of shared ownership homes in their area, with a further 30 per cent unaware of shared ownership altogether.

Commissioned by local home provider, Southern Home Ownership, the survey was carried out to measure awareness of shared ownership in the area. The government-backed scheme enables buyers to purchase a share of a property; significantly reducing mortgage requirements and the deposit amount. The owner then pays rent on the remaining share and has the option of increasing their own over time.

Sandy Macmillan, head of sales and marketing at Southern Home Ownership, said: “Shared Ownership is well established in the London market and a widely popular option among first time buyers, but the message doesn’t seem to be making it beyond the M25.

“Shared Ownership is, in fact, widely available across Surrey and Sussex – we’ve four developments in Horsham alone. And, with the average property price in Sussex as much as £285,864, it’s an essentially affordable option for local first time buyers.”

For further details and to make an advanced appointment, contact 08456 12 12 71 or visit { |their website|their website}.