A local UK newspaper reports on a success story in home ownership for a young couple. The paper first notes that rent in England has risen to a record high of 846 pounds, with rents in southeastern England at 924 pounds. The account talks about a young couple who used the government’s program, called Help to Buy, to be able to own a two bedroom unit in a nice area. The program had only a 5% deposit and included low interest rate government loan.
Key Takeaways:
- South east England got the biggest rent to let hike, with costs moving up approximately fifteen percent.
- High rent-to-let costs can become a trap for renters in their twenties and thirties especially, leading to forestalling of their dream to own their own home.
- Nash Mills Wharf Hemel Hampstead has a Help to Buy scheme that assists twenty and thirty-something renters to stop renting and buy a place of their own.
“Figures recently unveiled from Your Move confirmed the monthly cost of rent for homes across England and Wales rose to an all-time high of £846.”
Read more: https://www.stalbansreview.co.uk/watford/15059936.Success_for_first_time_buyers_with_Help_to_Buy_scheme/