Jones homes in on HomeBuy Direct

A scheme to make new homes more affordable to buyers priced out of the housing market is being launched by Jones Homes working in partnership with the Government’s Homes & Communities Agency (HCA).

The scheme called ‘HomeBuy Direct’ is available on a number of selected plots at several Jones Homes’ developments in the north-west. In essence, the scheme enables would-be participants to purchase a brand new Jones’ home for up to 70% of the full purchase price.

It is open to first time buyers, key workers and those in social or private rented accommodation who have a joint household income of up to £60,000 per annum. Those who qualify would raise a mortgage for at least 70% of the purchase price from a recognised bank or building society. Jones Homes and the HCA would then provide equal equity loans to make up the cost of the new home, of up to 30% of the full purchase price. These equity loans would then be repaid when the home is sold, based on 30% of the proceeds of the sale.

Purchasers still have 100% title to their home and it can be sold on the open market without restriction. ‘HomeBuy’ is plot specific and cannot be used in conjunction with any other offer provided by Jones Homes.

Managing Director of Jones Homes, Gary Hardy, has welcomed the initiative. He says: “We are looking forward to working with the HCA to give prospective purchasers the chance to take the first steps to home ownership. We have seven developments in Cheshire and Greater Manchester taking part in the scheme, between them offering a range of apartments, mews homes, townhouses and detached properties.

“We believe ‘HomeBuy’ will help to bring some confidence back into the housing market and as it returns our traditional values of providing quality homes with high standards of customer service will further re-assure prospective new home buyers,” Mr Hardy added.

Developments taking part in ‘HomeBuy’ include Chamberlain Place (Wilmlsow), The Pavilions (Macclesfield), Maplewood (Wythenshawe), Parklands (Cheadle Hulme), The Kingfishers (Middlewich), The Meadows (Middlebrook, Bolton) and Broadhurst Manor (Moston).

More information on participating developments can be downloaded from the website - jones-homes.co.uk. Alternatively pop into any showhome on Jones Homes’ ‘HomeBuy’ sites for full details and conditions of eligibility.