FirstBuy is back in Portsmouth
Are you a first time buyer struggling to make the move onto the property ladder? Well help is at hand as Taylor Wimpey Southern Counties is delighted to welcome back its popular FirstBuy shared equity scheme to house hunters in Portsmouth.
The leading local housebuilder is now offering the Government backed scheme at Alver Village in Gosport, Scholars Walk in Portsmouth and Wellington Park in Waterlooville, meaning house buyers in the region can turn their dreams of home ownership into a reality.
Fiona Creed, sales and marketing director for Taylor Wimpey Southern Counties, says: “FirstBuy provides a real lifeline for first time buyers who can afford the monthly repayments on a mortgage but are struggling to save for a big deposit, as they only need five per cent when using the scheme.
“In addition, with only 80% of the property’s value to finance, buyers will have access to a wider choice of mortgage products and more competitive interest rates. If you’re a frustrated first time buyer that’s just about given up hope of getting onto the ladder, why not pay us a visit to find out more.”
Under FirstBuy, purchasers can own 100% of their new home from Taylor Wimpey Southern Counties, after initially paying just 80% of the full price, which includes a 5% deposit and a 75% loan to value mortgage.
The remaining 20% is made up of a joint loan from Taylor Wimpey and the Government’s Homes and Communities Agency (HCA). The loan is repayable at the end of the 25-year mortgage term or when the property is sold. To be eligible for FirstBuy, customers must be first-time buyers with a household income of under £60,000.
Alver Village currently has a range of three bedroom houses available, with prices starting from just £175,000 for the three bedroom Moore design. And with only a 5% deposit required under the FirstBuy scheme, buyers could secure this stunning home with a deposit of just £8,750.
Scholars Walk is currently offering a selection of two bedroom apartments, priced from as little as £137,000, meaning with FirstBuy you will only have to find a deposit of £6,850 and a mortgage for £102,750. While at Wellington Park in Waterlooville, first time buyers will find a range of one and two bedroom apartments available with a deposit of just £6,250 needed using the shared equity scheme.
For further information, visit taylorwimpey.co.uk/portsmouth.
