Information » Housing » Buying a new home » Housing associations
- Because of the dramatic rise in property prices over the last decade, many young people can no longer afford to get onto the property ladder
- Housing associations are non-profit organisations that can help you find affordable accommodation
- Many housing associations now offer affordable housing schemes to help first time buyers own their own home
- These schemes often involve your local housing association owning part of your house with you. For example, if you could only afford 70% of the property you want to buy, the housing association may agree to buy the other 30% with you. This means that when you come to sell your house, the housing association will take 30% of the price you sell if for
- Affordable housing schemes are a good way of enabling you to buy in areas you may otherwise be unable to afford
- To find out what type of affordable housing schemes are offered in your local area, you need to contact the associations directly
