New initiative aims to reduce cost of home buying

First-time buyers are being urged not to miss out on a share of £2.8 million which David Wilson East Midlands has to spend on helping them onto the property ladder. The money is the Government’s contribution to a special initiative aimed at reducing the cost of homebuying and must be allocated before the end of this year.

“The scheme is called HomeBuy Direct and it dramatically reduces the initial cost of house purchase and improves your chance of owning your own home,” says Philip Lacey, Sales Director at David Wilson.

“We have around £2.8 million of Government funding that has to be spent on the initiatives this year, so I would advise people to come and talk to us to find out if they are eligible. It doesn’t cost anything and we can answer any queries and help with the paperwork.”

David Wilson East Midlands allocated 107 plots to this scheme when it first launched earlier this year, which span seven developments throughout the region, from Rugby in the south to Kirkby in Ashfield in the north.

Buyers who purchase any of these allocated plots can move in for just 70 per cent of the price. The remainder of the price is jointly funded by David Wilson and the Government, through a 30 per cent equity loan, which means that in many cases buyers don’t even need to have a deposit.

The scheme is open to a wide range of people who don’t currently own their own home. Households eligible will be earning less than £60,000.

The seven developments where David Wilson East Midlands is offering HomeBuy Direct include:

Birkin Fields, Nottingham
Sales office is open 11am-6pm, Thursday to Monday
Currently has a selection of three- bedroom homes available on HomeBuy Direct. Prices start from £210,995, £147,696 on HomeBuy Direct.

Castle Heights, Derbyshire
Sales office is open 11am-6pm, daily
Four- bedroom detached homes are available to purchase on HomeBuy Direct here. Priced from £212,995, £149,096 on HomeBuy Direct.

Church Fields, Kirkby-in-Ashfield
Sales office is open 11am-6pm, Thursday to Monday
Offers a selection of two- and three- bedroom homes on this scheme. Prices start from £99,995, £69,996 on HomeBuy Direct.

Humberstone Lodge, Humberstone
Sales office is open 11am-6pm, Thursday to Monday
Three- bedroom family homes have been allocated to the scheme here. Prices start from £199,995, £139,996 on HomeBuy Direct.

Kibworth Meadows, Kibworth
Sales office is open 11am-6pm, daily.
Currently offers one- and two- bedroom homes on HomeBuy Direct. Prices start from £99,950, £69,965 on HomeBuy Direct.

Montgomery Gardens, Earl Shilton
Sales office is open 11am-6pm, Thursday to Monday.
Plots allocated to the scheme here include a range of three- bedroom homes. Prices start from £169,995, £118,996 on HomeBuy Direct.

Oaklands, Rugby
Sales office is open 11am-6pm, daily.
Currently offers one-, three- and four- bedroom homes on this scheme. Prices start from £84,995, £59,496 on HomeBuy Direct.

To find out more, log on to Dwh.co.uk.