WITH the average age of first-time buyers now a staggering 37 years, it’s no wonder that inheritance or the “bank of mum and dad” is increasingly considered the only option for many aspiring first-time buyers.

With deposits required of up to 30 per cent in many cases, even those on reasonable incomes are locked out of home ownership.

Luckily, there are Government schemes out there aimed at helping working people who earn less than £60,000 to buy a home.

In Cheshire and Greater Manchester there are many superb new build developments which offer affordable options which tackle head on the problem of raising a deposit.

These schemes are promoted by Plumlife, a not-for-profit affordable homes specialist.

Schemes include Shared Ownership, a part-buy part-rent scheme, as well as FirstBuy, a 20 per cent equity free loan, which enables first-time buyers to stump up a five per cent deposit.

There are stunning developments all over Greater Manchester and Cheshire – including Oak Gardens in Hale. The development comprises stylish, two-bedroom apartments available for Shared Ownership sale located close to the village centre. Prices are from just £68,250 based on a 40 per cent share.

Plumlife also has exclusive access to a new Santander mortgage deal for Shared Ownership buyers which requires just a five per cent deposit.

On a 40 per cent share, that means finding a deposit of less than £3,000. The buyer pays a modest rent on the share they don’t own, but is free to buy more shares in the future until they own the property outright. To find out more visit plumlife.co.uk or call Plumlife on 0161 447 5050.