New first time buyer scheme launches at Queen’s Square

A special Government scheme called HomeBuy Direct has been launched at Bryant Homes’ Queen’s Square development in Maidstone. The new initiative, which has only just been launched nationally, will help first time buyers get on the property ladder with an interest free equity loan.

The HomeBuy Direct scheme is aimed at helping purchasers with a household income of less than £60,000 afford the home they want*. An interest free equity loan is available for up to 30 percent of the value of the property, co-funded by the Homes and Communities Agency and Bryant. For example, the initiative means that if you qualify for a mortgage of £140,000, you could buy a property worth up to £200,000.

Mark Pajak, Regional Sales and Marketing Director, comments: “The new HomeBuy Direct scheme is a great way for purchasers to afford their first home. It’s designed to overcome the hurdles of high mortgage costs and larger deposits, which we know are preventing many people from buying. There are ten homes available through the scheme at the site and we anticipate that interest for them will be high. It’s definitely worth visiting the marketing suite to see what Queen’s Square has to offer.”

David Edwards, Regional Director at the Homes and Communities Agency said: “Through HomeBuy Direct the HCA is offering a golden opportunity for local people who have been priced out of the property market. Our £400 million investment nationally will also act as an important stimulus to help restore confidence in the housing market.”

No interest is charged on the equity loan for the first five years* and the purchaser has to contribute the remaining equity, through an agreed mortgage*. Buyers are also able to pay off the equity loan in instalments at any stage after the first 12 months or sell their HomeBuy property* if they wish.

Superb one and two-bedroom apartments are currently available at Queen’s Square priced from £149,995, three-bedroom properties from £214,995, four-bedroom family homes from £224,995, and two-bedroom houses from £164,995.

Just a short distance from Maidstone centre, Queen’s Square is perfectly positioned for home-owners to enjoy a relaxed lifestyle with restaurants, cafes and bars on the doorstep.

The new Fremlin Walk shopping centre, Mall Chequers Centre and a choice of supermarkets help put Maidstone among the top 50 retail towns, while swimming pools, a bowling alley, a multi-screen cinema, theatres and gyms mean that there’s plenty to do during leisure time.

Education facilities in both the private and state sectors are excellent, with a wide selection of schools and colleges, including well-respected grammar schools and Maidstone's prestigious Kent Institute of Art and Design.

For more information on HomeBuy Direct and the range of properties available at Queen’s Square, log on to Bryant.co.uk.

* Terms and conditions apply.