The Live Wire



Press Release

Climb the property ladder first rung

4 July 2007

Sky-high prices mean it’s difficult for many UK first-time homebuyers, but the new edition of Buy, Sell and Move House, a Which? essential guide, has plenty of strategies for those trying to get on the property ladder.
> Join one of the many schemes to help lower income groups
The Homebuy scheme, for example, enables key workers* to buy housing association property.
> Get help from your family
Those who need to borrow more than their income allows could get their parents to act as guarantors, allowing them to secure a mortgage.**
> Buying with other people
Pooling resources with one or more friends could give finances the kick-start they need, though buyers will need a legal agreement establishing how ownership is shared.
> Buying to rent out a room
Renting out an extra room may be an option – but it also brings the responsibilities of being a landlord.
> Off to the park
There is a growing trend for elderly people to buy a permanent construction - a bungalow or large static caravan - located in a private park setting.***

Kate Faulkner, author, Buy, Sell and Move House, says:

“It’s not all doom and gloom for people trying to get into the property market. With a little bit of hard work, there are still ways to get your foot on that all-important first rung of the property ladder.”

Notes to editor

Buy, Sell and Move House, a Which? essential guide, can be ordered on 01903 828557 (£10.99?, p&p free) or at www.which.co.uk or bought from bookshops.

Buy, Sell and Move House is the first book to contain up-to-date information on the introduction of Home Information Packs.

* Key worker living: a scheme that aims to help NHS staff, teachers, police officers, prison and probation staff, and social workers to by a home in London, the south east and east of England.
** Buyers need to beware that if they default on payment, their parents will be pursued for the debt by the lender.
*** There are often age restrictions for park homes and many parks do not accept resident children or pets.



Press releases, papers and documents published on this page are the intellectual property of an organisation unrelated to Central Lobby. We promote their parliamentary and political campaigning activities as they are subscribers to the Central Lobby service.

As such, Central Lobby does not edit, endorse, or attempt to balance the opinions expressed on this page. The content of press releases and other such types of content are the responsibility of the originating organisation.

Which?

Which?

More from Dods

© Dods Parliamentary Communications Ltd