HomeBuy directs gets buyers moving

Hundreds of house hunters across the country who until recently have been priced out of the housing market have been able to buy a brand new home thanks to properties made available under Persimmon’s Government-supported, HomeBuy Direct scheme.

Just weeks since the scheme was introduced, 272 properties have already been reserved across the country, with 60 exchanges and 54 purchasers having now completed on the purchase of their new home.

The scheme is proving particularly successful in the South West of the country, along the M5 corridor from Birmingham to Plymouth. Approximately 55 per cent of the Persimmon Group’s HomeBuy Direct reservations have been taken in the south of England, 35 per cent in central England with the remaining ten per cent in the north.

In Persimmon’s West Yorkshire region, seven properties have been reserved with four buyers having legally completed. The Leeds-based house builder has 130 two, three, four and five bedroom properties under the HomeBuy Direct banner at 12 developments across the West Yorkshire region alone.

David Bryant, group development director for Persimmon plc, comments: “Never before have we had an opportunity where would-be-home buyers can take advantage of a house builder scheme that has the full support and backing of the Government.

“HomeBuy Direct is spectacular because being offered the chance to only have to pay 70 per cent of the price, plus having an interest free loan for five years, is a fantastic offer to young couples and first time buyers who, until now, have been priced out of the market.

“With schemes as good as this coming onto the market, I firmly believe that this is undoubtedly the best time to buy property. I’m delighted that we have already been able to help hundreds of young buyers, re-entrants and those who have been renting to own their own home and I am confident, with our help, many more house buyers will be able to make the move this year.”

HomeBuy Direct is a Government scheme designed to help house buyers who are priced out of the housing market in their local area buy a brand new home in a much more affordable way. Persimmon has the largest developers’ allocation of HomeBuy Direct with around 2,700 homes at 194 developments throughout England.

The scheme is aimed to put households with incomes below £60,000 and who may not have adequate funds for a significant deposit in a position where they can afford to purchase a new build home on the open market. House buyers are only required to raise funding for 70 per cent of the purchase price, including a mortgage. The remaining 30 per cent is made up by a 25 year loan, interest free for first five years, which is co-funded by the Government and Persimmon Homes.

Further information on the HomeBuy Direct scheme can be found at persimmonhomes.com.