The new site represents a significant investment for us and we are pleased at all the extra information that is now available free of charge to aspiring home owners in the UK
(PRWEB) August 31, 2007
In 2003, the UK property market changed to becoming one of desperation for getting onto the first rung of the property ladder. At that time, Helen Adams realised that the future of property ownership for first time buyers was going to get more complicated. First time buyers wanting to step onto that first rung were going to have to get used to co-ownership and co-financing as part of the equation. And so, FirstRungNow.com was born, focusing primarily on joint ownership and buying a property with a friend or sibling. You could even find someone else to invest in a property with!
Since that time the market has changed dramatically. Not long after launch, shared ownership became a hot topic as the government launched their part buy part rent scheme primarily for first time buyers. Today shared ownership has become the buzzword, and young people were flocking to the internet to find out more about what shared ownership meant. Shared ownership mortgages became the order of the day and the latest solution for first time buyers was a hit.
As the market has become tougher, the mortgage lenders have had to raise their game and have gone on to launch a number of innovative mortgages for first time buyers.
Today's first time buyer is faced with a multitude of different types of mortgages - from shared ownership to shared appreciation. The variations between all the mortgages available for first time buyers means that mortgage advice and mortgage comparison are more important than ever. The new site, launched this summer aims to inform and educate on all aspects of researching a first mortgage and first property in the UK. Completely independent, FirstRungNow.com offers guidance on first mortgages and how to buy a property. The website also features new services from private enterprise. The latest innovations are 'gifted deposit' where first time home buyers can access the sort of deals historically only available to property investors and 'rent to buy'. New to the UK but established in the States, Rent to Buy allows a first time buyer to choose a property, and then rent it for a period, with an option to buy it at it's value at the outset of the rental period. This stops the property price rising out of reach and gives the 'owner' a chance to 'try the property out'.
Although many first mortgages are featured on the on-line advice centre, FirstRungNow.com has forged links with a network of mortgage brokers who are able to offer independent mortgage advice through detailed market knowledge and expert mortgage comparison. Their knowledge, combined with the array of first mortgages now available and schemes such as rent to buy, make the prospect more realistic than it has ever been. Choices are better than ever - they have to be with property prices still creeping up.
The site re-launch now enables first time buyers wanting to know more, access to all the information they could want, all in one place on the net.
Helen Adams, Managing Director of FirstRungNow.com comments:
"The new site represents a significant investment for us and we are pleased at all the extra information that is now available free of charge to aspiring home owners in the UK"