Catalyst see high demand for Help to Buy and Shared Ownership homes
Find out why now is the right time for first time buyers to get on the property ladder!
Typically, summer is associated with a slow-down in the property market, as people put their searches on hold in place of jetting abroad to top up their tan.
However, after a summer of staycations, staying in, and re-discovering the best bits of the local neighbourhood, this ‘summer slump’ was nowhere to be seen in 2020. In fact, homebuying activity ramped up over the warmer months, with more and more new purchasers deciding that now is the time to move to their dream home.
Award winning housing association Catalyst reported a rise of more than 30% in year-on-year reservations from June 1st to August 31st, demonstrating the record demand to buy a new home with the leading housing association.
From slick city pads in London, through to three storey, five bedroom homes in the Home Counties, Catalyst have a huge variety of developments, meaning there’s an option for every buyer.
- Help to Buy enables purchasers to buy a home with a 5% deposit, supported by a government equity loan of up to 40% in London, or 20% outside of the capital.
- Shared Ownership is a part-buy, part-rent scheme where you purchase a share in a property, and pay a reduced rent on the remaining portion. You only require a deposit on the share you buy, often as low as 5%, making it a great option for buyers with less savings.
Markus Kendall-Young, Group Head of Sales and Marketing at Catalyst, comments: “We were delighted to have such a successful summer, helping hundreds of new homeowners find their dream home. Our Sales & Marketing suites were brilliantly busy when we re-opened them in early summer, with many buyers eager to see our developments in person. Our virtual tours also continue to be really popular, with many buyers opting for a video visit before coming to the scheme in-person. It is a fantastic reflection of the quality of our homes and neighbourhoods that record numbers of buyers are choosing to purchase with Catalyst.”
Catalyst continue to offer flexibility to buyers, so that each purchaser can navigate their property journey on their terms. As well as in-person development tours, Catalyst’s sales team can meet buyers over Zoom, Microsoft Teams and FaceTime, to provide a virtual tour of each development.
Catalyst’s strong relationship with mortgage advisors and solicitors has proven key to many first time buyers, at a time when some lenders have fewer mortgage products available to those with smaller deposits. Catalyst’s exclusive agreement with one of the industry’s most respected specialist new build mortgage advisers, enables buyers to receive mortgage advice free-of-charge, as well as access to deals that are not on the open market.
Catalyst’s live developments span London and the Home Counties, with a wide range of styles and layouts to choose between.
One example in London is Nova at Queensbury Square, providing a mix of one to three bedroom apartments through Shared Ownership. Positioned in the heart of London’s Borough of Culture 2020, it is the perfect option for homeowners wanting a cultural scene on their doorstep, with art, music, literature and theatre opportunities readily available. With homes available to buy with a deposit as low as £6,600, it’s a fantastic option for first time buyers wanting to stay in the capital.
Meanwhile, The Paddocks in Bourne End, Hertfordshire, is an attractive collection of 45 two to four bedroom homes built in partnership by Catalyst and Mears New Homes. With a large garden accompanying every home, and the Chiltern Hills only moments away – a 322 square mile Area of Outstanding Natural Beauty – the development offers the best of country living in the Home Counties. Already 75% reserved, only a handful of family homes are available to purchase.
Catalyst will be partnering with Share to Buy for the webinar ‘Is now the right time to buy a home? A step-by-step guide on how to get on the property ladder’, taking place on Thursday 8th October at 12pm. Register for a place here!
To find out more about Catalyst, visit: catalyst.homes
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home buying schemes such as Shared Ownership and Help to Buy via our FAQs and guides.