{"id":26646,"date":"2023-02-10T16:06:37","date_gmt":"2023-02-10T15:06:37","guid":{"rendered":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=26646"},"modified":"2023-02-28T13:10:05","modified_gmt":"2023-02-28T12:10:05","slug":"want-to-use-your-rent-to-save-towards-a-deposit","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=26646","title":{"rendered":"Want to use your rent to save towards a deposit?"},"content":{"rendered":"
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Finding the means to save for a deposit to buy a new home in the current climate is becoming harder and harder for first time buyers – while developers are seeing the country’s political and economic uncertainty reflected in demand for new houses. Barratt recently reported a ‘marked slowdown’ in the housing market over the last six months.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Property developer, Fairview New Homes, has responded with a new scheme that enables first time buyers to ‘rent’ the home they want to buy prior to completion of the purchase.<\/p>\n

The Save to Buy scheme is available at two developments: New Hayes in London and Epping Gate in Loughton, Essex and is expected to be rolled out at other sites later in the year.<\/p>\n

The scheme enables first time buyers to move into the home while all the monthly fixed cost rent they pay is put towards the deposit needed to buy the property. The buyer can take anything from six months to two years to save the deposit and can make additional payments to reduce the term.<\/p>\n

The developer said it hoped to ‘bring forward’ the opportunity for people to buy a home, which is aimed at those in the ‘rental trap’ of being unable to save while paying rent.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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