Home in on Jones for 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 across Yorkshire. 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.

Gary Hardy, managing director of Jones Homes, 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 four developments across Yorkshire taking part in the scheme, between them offering a range of apartments, mews homes and townhouse 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,” Gary added.

Developments taking part in ‘HomeBuy’ include Beaumont Park (Treeton), Bromley Park (Denby Dale), Brooklands View (Skelmanthorpe) and Kensington Grange (Bramley).

For more information, log on to Jones-homes.co.uk.