FirstBuy boost for home buyers in Stourport
12:23pm Thursday 7th February 2013
EVEN more people could find they’re able to step onto the property ladder in Stourport with the help of FirstBuy.
The Government-backed incentive cuts the initial cost of owning a brand new home by 20 per cent.
The coalition Government has committed an additional £280 million of funding for the scheme, extending it a further two years until March 2014.
First time buyers in Stourport will be among those to benefit, as Redrow has secured funding under the scheme at its Hamlet Place development in Bewdley Road.
Pauline Turnbull, sales director for Redrow Homes (Lancashire), said: “FirstBuy has been incredibly popular with our customers who may have otherwise have found it difficult to buy a home of their own.
"We’re delighted to have secured funding until to March 2014 for our Hamlet Place development as it will help a great deal more people take that vital first step onto the property ladder. We’ve received lots of enquiries already from those who want to take advantage of this valuable help and are working with them to transform their dreams of homeownership into reality.”
FirstBuy is available on two and three-bedroom homes at Hamlet Place and could reduce the initial cost of setting up home by a fifth.
For example, a two-bedroom home, usually costing £139,995 can be bought for an initial outlay of £111,996, with a deposit of as little as £5,600.
The outstanding balance is covered by an equity loan, jointly funded by Redrow and the Homes and Communities Agency.
The loan is interest free for five years and can be repaid when the home owner has more funds available.
To be eligible for FirstBuy customers must have an annual household income of less than £60,000 and be first-time buyers or returning to the housing market after a change of circumstances.
Pauline adds: “Buying your first home is an exciting time and even more so when it’s a brand new property. The homes available with FirstBuy are being sold ‘off plan’ before they’re physically built and our friendly, experienced sales team will guide you through the floor plans to help you choose you ideal home.
"Instead of inheriting someone else’s decor you will be able to enjoy the fun of customising it to your own personal taste by choosing a whole host of features including the finish of the kitchen cabinets and the bathroom tiles.”
Along with starter homes, Hamlet Place also features four and five-bedroom detached properties that are ideal for families. All of the homes enjoy Redrow’s high standard specification that includes well equipped kitchens and stylish bathrooms and en-suites.
Hamlet Place is about a mile from Stourport town centre with a wealth of amenities including supermarkets, high street stores and independent shops. Plus, with easy access to the M5, M42 and M40 it’s a great base for commuters.
More details are available from the sales office and show home, open daily from 10am to 5.30pm or by calling 01299 488046 or going to the website at www.redrow.co.uk/hamlet.