HomeBuy Direct your way to a family home

Prospective homebuyers looking for their perfect family home can take advantage of a new Government backed scheme which enables them to move into a new home in Bristol for just 70 per cent of the price. The HomeBuy Direct scheme has been a huge success in the region – and it’s not just for first time buyers.

Sales director Louise Ware said that families can move into a brand new home under the scheme which is available at The Meadows in Siston Common.

The four bedroom Kingsgate design is one of the homes offered under HomeBuy Direct to families. It has fitted kitchen with breakfasting area, lounge with separate dining room and the master bedroom has ensuite facilities.

The scheme is open to first time buyers, key workers and others who are currently renting. People who have previously owned a home but are now unable to do so – perhaps where relationships have broken down – can also apply.

Households eligible will be earning less than £60,000 and would not normally be able to afford to buy a suitable property on the open market.

There is no interest to pay on the equity stake for the first five years, although a small fee will be charged from year six onwards.

Buyers can redeem the loan in instalments, purchasing up to 100 per cent of the equity after their initial purchase by buying additional equity at the market rate. Alternatively, if they sell their home, the equity loan is repaid by way of a proportionate share of the sale proceeds.

“We have had a tremendous response in the weeks since we launched HomeBuy Direct in Bristol which shows that there is still enormous demand for new homes in this area,” said Louise.

Once complete, The Meadows will offer 222 homes – a mixture of one and two-bedroom apartments and two, three and four-bedroom houses.

The Meadows lies close to the Bristol and Bath cycle path but, although it nestles in a rural location near Siston Village, the Avon Ring Road is close by, providing easy access to central Bristol with all its amenities.

For details of current availability, visit Barratthomes.co.uk.