First time buyer initiative relieves financial burden
2 July 2008
Four young professionals from the same Portsmouth based space systems giant have all taken advantage of an innovative new scheme to help them buy their first home at Crest Nicholson’s prestigious Admiralty Quarter. Lauren Dunn, 29, Luke Dunwoody, 26, Oisin Fouere, 26, and Tim Ayles, 25, who all work at Astrium, have each bought an apartment at Admiralty Quarter through the First Time Buyer’s Initiative (FTBI).
The FTBI enables first time buyers to secure a home for just 50% of the asking price, provided it’s located on one of the Government’s FTBI approved developments like Admiralty Quarter.
Lauren, a purchasing buyer was the first of the colleagues to buy a one-bedroom second floor apartment.
“I’ve got a view over the shared green space on one side and a large patio on the other. The standard of finish is exceptional and I know from looking long and hard that I would never have been able to afford a home like this without the FTBI scheme,” said Lauren.
Luke Dunwoody, a mechanical engineer had been looking at terraced houses a few miles outside the centre when he heard about the FTBI and snapped up a two-bedroom fourth floor apartment.
“I was getting pretty despondent and had resigned myself to endless weekends of DIY before I heard about the FTBI. I got a fantastic deal and have a really nice place just a short walk from Gunwharf Quays. This is the first time I’ve been able to afford to live on my own. I don’t think I realised how much that meant to me until I moved in.”
Tim Ayles, a component engineer bought a two-bedroom second floor apartment in with a large balcony overlooking the historic naval dockyard.
“I heard about the FTBI scheme from colleagues at work. It was all very straightforward and the whole purchasing process was handled very professionally and without the usual delays you hear about elsewhere.
“I’ve been able to make a sound financial investment and get to live in an apartment that seemed way out of my budget.
Oisin Fouere, a systems consultant bought a two bedroom second floor apartment in with a courtyard.
“The standard and quality of the finish is exceptional and through the FTBI I’ve got twice the size of apartment I was looking for and don’t feel financially stretched.
“There’s so much to do in this area that it’s nice to have more disposable income to enjoy it all. I’d highly recommend the FTBI.”
Helen Boniface, Sales and Marketing Manager for Crest Nicholson Regeneration Ltd said: “The FTBI gives people like Lauren, Luke, Oisin and Tim and opportunity to get on the first rung of the housing ladder and provides a crucial stepping stone for buyers who may not have been able to afford to buy otherwise. It also allows buyers to live in quality homes like those on offer at Admiralty Quarter, when previously they may have found it more difficult.”
Prices at Admiralty Quarter start at £99,000 for a studio apartment with one bedroom apartments from £141,000, two bedroom apartments from £199,000 with penthouses to follow in the near future.
For further enquiries visit Admiralty-quarter.co.uk.
