New scheme opens up Brighton property market

First-time buyers in Brighton struggling to purchase a property in the current climate have been thrown a much needed lifeline. In conjunction with the Government, housebuilders Crest Nicholson and BioRegional Quintain Ltd. are preparing to launch HomeBuy Direct at One Brighton.

HomeBuy Direct is a new initiative designed to be a ‘stepping stone’ to home ownership. With the scheme, first-time buyers are able to secure a brand new home at One Brighton at just 70 per cent of property’s asking price, making a one bedroom apartment at the development priced at £179,950, an even more competitive £125,965 with HomeBuy Direct.

Under HomeBuy Direct, purchasers will own 100 per cent of their new home from day one and the remaining 30 per cent of the property’s market value is funded by an interest free* equity loan, jointly financed by Crest Nicholson, BioRegional Quintain Ltd. and the Government. The equity loan is not repaid for five years or until the property is sold, which ever is sooner. After twelve months, purchasers even have the opportunity to buy some, if not all of the property’s remaining equity at market value.

Chris Warner, Sales and Marketing Director, Crest Nicholson Regeneration Ltd., comments: “HomeBuy Direct will give aspiring buyers an opportunity to secure a new home at one of the UK’s most exciting developments. New initiatives like HomeBuy Direct are crucial to buyers who have been finding it difficult to get the mortgage funding required to match property prices in the area. Just over a third of homes at One Brighton have now been sold, with only 10 apartments remaining in the first phase. The on-going popularity of One Brighton is very gratifying, especially given recent market conditions.”

Benefitting from striking architecture that draws upon innovative and high quality continental design, the 172 studio, one and two bedroom apartments within the One Brighton development will offer stylish, city centre homes. Following the ten guiding principle principles of One Planet Living, they will provide an environmentally advanced development where residents will benefit from happier, healthier lifestyles.

Pete Halsall, Managing Director, BioRegional Quintain Ltd. comments: “There is no other development like One Brighton being built in the UK at the moment and it is truly at the cutting edge of sustainability and design. Whilst there are many key eco features the central ethos of this development is about creating happier, healthier communities. HomeBuy Direct is a fantastic scheme which will allow even more first time buyers to enjoy the development.”

Residents at One Brighton will be able to make use of several unique features of the development for an enhanced lifestyle, including roof top allotments and balcony planters which will be an integral part of the development where residents will be encouraged to grow their own produce. A rain water harvesting system will also provide ample irrigation. For those who enjoy outside space in which to relax, sky and roof gardens, along with Brighton’s newest square, will provide the ideal places to unwind.

Potential purchasers can now visit the Sales and Marketing Suite on Stroudley Road, in New England Quarter. Prices start from £179,950 for a one bedroom apartment or £125,965 with HomeBuy Direct. For further information log on to Onebrighton.co.uk.