Henderson helps get you moving

There are now more options to get on the property ladder
There are now more options to get on the property ladder

IN response to reports that just one in four British families will be in ‘their own home with a mortgage’ by 2025 if the economy remains stagnant, a local developer has launched an initiative designed to help people in St Helens get on to the property ladder.

‘The Equity Share Initiative’ has been introduced by Henderson Homes, a third generation family run builder with 60 years experience of crafting homes for St Helens’residents

The initiative is modeled on Government schemes, now obsolete due to lack of funding, and provides buyers with that all-important 20 per cent deposit – the obstacle preventing a third of first time buyers from achieving their dream of home ownership

Henderson Homes retains the share of the property on a no rental fee basis whilst effectively gifting you the deposit mortgage companies require. After 10 years, or earlier if the property is sold, the homeowner repays the 20 per cent equity share.

Max Henderson, managing director, said: “With the average deposit at £27,000 and the average salary well below that, its no wonder people are struggling to find the funds they need to satisfy mortgage lenders’ criteria.

“It can take years to save up a deposit and in most cases it means putting life on hold. Today the average age of a person buying their first home is 35, a huge change from the 1960s when it was 23.

“The only options for many are to remain at home with parents or meet the rising costs of rental accommodation. The Equity Share Initiative effectively allows them to save for a deposit whilst having a mortgage and living in their own four bedroom home.”

Research shows that 22 per cent of 18 to 34-year-olds are living with their parents. Of that group, 58 per cent reported that developing and maintaining relationships was harder because of their living situation.

The barrier to home ownership is also impacting on the population; a fifth of 18 to 44-year-olds are delaying starting a family because of a lack of affordable housing. Meantime, those with rental property are enjoying a healthier return on their investment; rental prices have seen a 5.2 per cent increase in the last year whilst in the last five years the number of families with children living in privately rented accommodation has increased by 86 per cent.

Properties at Henderson Homes’ Jubilee Gardens development on Cowley Hill qualify for the initiative. Prices for the eleven detached and semi-detached homes at Jubilee Gardens start from just £210,000.

“Our Equity Share scheme could help first-time buyers move into a four bedroom home, ideal for people wanting to start a family,” says Max.

Homes in Jubilee Gardens have been built to the highest standard and specification and designed to suit modern day tastes and lifestyles. A choice of four different house types is offered, each providing spacious living accommodation over three levels such as an entrance hall with cloakroom/wc, a contemporary open plan kitchen/diner incorporating integrated appliances, a lounge with patio doors to a rear garden, a family bathroom and four bedrooms, with an en-suite to the master.

“We take pride in developing well built homes and selling them at the right price,” said Max. “And we trust our Equity Share Initiative will help buyers get onto the first rung of the property ladder.”

l For more information visit www.hendersonhomes.co.uk or call 01565 832786