Home-buying options

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As the weather warms jup along with the property market, many first-time buyers will be thinking about buying a new home.

There are a number of options available to help first-time buyers: from Government-backed schemes, such as Help to Buy, to ones devised by developers.

But recent research has found four out of five first-time buyers have never heard of or considered shared equity schemes, which is one of the options offered by developers.

Sometimes the sheer number of options can be confusing or the schemes themselves can be complex to understand.

However, I would urge first-time buyers to explore all the options available to them and carefully assess the pros and cons associated with each scheme.

So long as you ensure you understand your commitment and what you will need to pay back and when, then these schemes have the potential to speed up your climb onto the property ladder.

Samantha Blackburn

Slater and Gordon, head of Residential Property Law