First time buyers get moving at The Parks

A special Government scheme called HomeBuy Direct has been launched at The Parks development in the West London region. The new initiative, which has only just been launched nationally, will help first time buyers get on the property ladder with an interest free equity loan.

The HomeBuy Direct scheme is aimed at helping purchasers with a household income of less than £60,000 afford the home they want*. An interest free equity loan is available for up to 30 percent of the value of the property, co-funded by the Homes and Communities Agency and Taylor Wimpey. For example, the initiative means that if you qualify for a mortgage of £140,000, you could buy a property worth up to £200,000.

Tim Betts, Regional Sales and Marketing Director, comments: “The new HomeBuy Direct scheme is a great way for purchasers to afford their first home. It’s designed to overcome the hurdles of high mortgage costs and larger deposits, which we know are preventing many people from buying. There are ten homes available through the scheme at the site and we anticipate that interest for them will be high. It’s definitely worth visiting the Sales Information Centre to see what The Parks has to offer.”

David Lunts, Regional Director at the Homes and Communities Agency said: “Through HomeBuy Direct the HCA is offering a golden opportunity for local people who have been priced out of the property market. Our £400 million investment nationally will also act as an important stimulus to help restore confidence in the housing market.”

No interest is charged on the equity loan for the first five years* and the purchaser has to contribute the remaining equity, through an agreed mortgage*. Buyers are also able to pay off the equity loan in instalments at any stage after the first 12 months or sell their HomeBuy property* if they wish.

A modern and vibrant town with a pedestrianised shopping centre and a choice of cafes, bars and restaurants, £750m is currently being spent on the regeneration of Bracknell town centre, creating new leisure facilities, transport links and healthcare services. Homes are within easy reach of the centre and a choice of supermarkets.

Local schools have an excellent reputation, with pupils attaining results higher than the national average.

For commuters, the railway station is less than half a mile from the development, offering regular services to London Waterloo in 60 minutes, and Reading in just 20 minutes. The M3 and M4 are a few minutes away by road.

For more information on HomeBuy Direct and the range of properties available at The Parks, visit Georgewimpey.co.uk.

* terms and conditions apply.