First Time Buyer Scheme For NHS Staff
It can be difficult to get onto the property ladder for the first time for anyone, but when you’re working in a demanding career like the NHS, you don’t need the hassle. Your work life is already high pressured enough – what if there was an easy way to get onto the property ladder which didn’t require a large deposit or the complexities of a mortgage?
What if we told you that you could buy your dream house, without a mortgage?
Whatever your role within the NHS, you’re our hero. We want to help you, just like you help people every day. Read on to find out how you could purchase your first home, mortgage-free.
CrowdToLive® is an innovative new scheme which allows first time buyers to get onto the property market with as little as 5% of the purchase price. This scheme is a hybrid part-own, part-rent product which matches Champions, or prospective home buyers, with a pool of funding partners, allowing the buyer to purchase their dream home, mortgage free.
Instead of taking out a mortgage for the remainder of the property price, our pool of funding partners will purchase the property alongside you. You will then pay rent on the portion of the house that you don’t own.
How is CrowdToLive® different from other first-time buyer schemes?
There are several schemes out there which are designed to help first-time buyers to get onto the property ladder, but how do you know which one is right for you?
|Minimum 5% share||Minimum 25% share||5% deposit|
|Debt-free scheme||Mortgage required||Mortgage required|
|Choose any level of share||Choose between 25% and 75% share||Set 5% deposit|
|Own your dream home||Limited to a selection of purpose-built homes||Limited to a selection of purpose-built homes|
|Wider eligibility||Strict eligibility criteria||Strict eligibility criteria|
Read on to discover how the CrowdToLive® scheme is tailored to help NHS staff to get onto the property ladder.
Low deposit for NHS staff
CrowdToLive® offers NHS staff an affordable way to get onto the property ladder. It can be difficult to save up a large enough deposit for a mortgage, especially if a large proportion of your NHS salary is already being used for rent. And let’s face it – who wants to spend all of their wages on bills anyway?
That’s why CrowdToLive® asks for a minimum deposit of only 5% of the purchase price, making home ownership accessible to all NHS staff. You can choose your level of investment, keeping some savings in your bank for those all-important holidays if you wish.
Debt-free solution to property ownership for NHS workers
Mortgages can feel daunting due to the large amount of debt that you’re taking on. CrowdToLive® is different as the house is paid for in full, without a mortgage. This means that you will own your first home, mortgage-free.
Instead of taking out a mortgage, our pool of funding partners will help you to buy your home. You’ll own the portion of the house that you paid for and pay rent on the remainder. You’re free to purchase more of the home as you move up the NHS pay bands and your salary increases over time.
Interest-free home ownership for NHS staff
When you take on a mortgage, you’re agreeing to pay tens or even hundreds of thousands of pounds on top of the purchase price in interest. Every time you make a payment, hundreds of pounds are added back onto your mortgage in interest.
CrowdToLive® allows you to avoid these interest charges by purchasing your home without a mortgage. You’ll pay rent on the portion of your home that you don’t own, avoiding the increasing interest charges of a mortgage.
NHS heroes should feel secure in their home
Our fantastic NHS staff are always there for us when we need them, but this time it’s our turn to look after our NHS heroes. When you choose to buy your house with the CrowdToLive® scheme, you can rest safe in the knowledge that your home is your own. No one can ask you to leave as long as your rent is paid – it’s yours forever.
Since your house belongs to you, you are free to redecorate your home whenever you choose, however you choose. That includes painting, wallpapering, changing the carpets and putting up pictures – there’s no need to ask for permission. You’ve got all the benefits of owning your own home, without needing to take out a mortgage to afford it.
Choose your dream home
As an NHS worker, we don’t think you should have to settle. That’s why we’ve made it possible for you to purchase your dream home, mortgage free.
Unlike other first-time buyer schemes such as HelpToBuy or Shared Ownership, CrowdToLive® allows you to choose your dream home. The service isn’t limited to off-plan or housing association stock like other schemes – you can take your pick of properties listed by private sellers on websites such as Rightmove or Zoopla.
Opening the door for more NHS workers to own their own home
The application process for CrowdToLive® is much simpler than the process of applying for a mortgage, meaning that there’s a wider range of eligibility. Providing you’ve never defaulted on payments, been declared bankrupt or received a CCJ, the CrowdToLive® platform is highly accessible.
This makes the CrowdToLive® platform suitable for many NHS workers, enabling prospective NHS buyers to take the first step in purchasing their dream home.
Support for NHS staff purchasing their first home
We know how busy your life is when you’re working for the NHS. You’re balancing a demanding job with your personal life and buying your first home probably just feels like an extra stress right now.
When you decide to purchase your home using the CrowdToLive® platform, you’re gaining access to our experienced advisors who will guide you through the process, explaining your options and answering any questions that you have along the way. It really is that simple.