People unable to afford to buy their own homes are being encouraged to apply for extra help through a multi-million pound scheme operated by Orbit First Step.
Part of the Orbit Housing Group, Orbit First Step has been given £81,331 by the Housing Corporation to fund its Homebuy initiative in Hastings & St Leonards during the year ahead.
"Homebuy is a Government backed scheme, funded and supervised by the Housing Corporation, that enables people to buy their own homes even if they cannot afford the price of a house on the open market,"
explains Andy Parkes, business development manager, of Orbit First Step.
"If someone can raise 75 per cent of the purchase price of a property through a mortgage, we will then give them an equity loan for the remaining 25 per cent with no repayments until the end of the loan period."
"The scheme not only enables people to get on to the housing ladder but it also frees up other rented accommodation for others further down the line."
Homebuy is available only to those who are:
Once approved for the scheme, people can buy any property through Homebuy providing it is for sale on the open market, it is in England, it is fit to live in and it is within the price limitations set for the area.
To find out about Homebuy in your area or for more details about Orbit First Step, please telephone 02476 438000.
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This page last updated: 09/04/2003