Family of five move into home ownership

A family of five from Leicestershire have been able to make their dream of home ownership a reality at David Wilson East Midlands’ Montgomery Gardens development in Earl Shilton thanks to the Government’s HomeBuy Direct scheme.

26 year old Simon Rumble and his wife Gemma, 27, along with their children Christopher, 11, William, 5, and Jessica, 2, had been renting a property in Whetstone and like a lot of other families they thought they had been priced out of the housing market. But after seeing an advert for the new HomeBuy Direct scheme in the local newspaper, the couple decided to find out more.

Retail Banking Administrator, Gemma, comments “Simon and I didn’t think we could afford to buy at the moment and we had a five year plan to save as much money as possible to put down as a deposit for a home of our own. But when I saw the HomeBuy Direct advert that said we could purchase a property at Montgomery Gardens for just 70 per cent of the asking price, I convinced Simon to go and have a look.”

Montgomery Gardens is one of seven David Wilson developments in the East Midlands currently offering this scheme. The Government introduced the deal in a bid to try and help more first time buyers, key workers, families living in rented accommodation or those with an annual household income of less than £60,000, get a foot on the property ladder.

It allows purchasers to initially buy a property for just 70 per cent of the asking price, the remaining 30 per cent is funded by a joint Government and David Wilson deferred loan.

Gemma adds “After speaking with the sales negotiator, we were pleased to find out that we fitted the criteria so it was just a matter of filling out the application forms and waiting for a response. We had our eligibility letter back within four days and we were all thrilled to find out we had qualified for the scheme.”

Thanks to HomeBuy Direct, the Rumbles were able to buy a three- bedroom home in the style of a Bircham without overstretching their finances

Gemma continues “We were paying £600 a month in rent, which I felt was a waste of money but I couldn’t see a way around it. But thanks to HomeBuy Direct, we’ve been able to buy a home of our own and for just £95 more a month we have become home owners as opposed to tenants.”

The family moved into their new home on the 26th June and are excited about settling in as a family.

Gemma concludes “We love our new home and are excited about finally becoming home owners. The house style is perfect and its location is ideal for us as its closer to Simon’s work and the boys haven’t had to move schools.

“HomeBuy Direct has afforded us the opportunity to get a foot on the property ladder and I would suggest anyone who thinks they can’t afford to buy to find out more about this fantastic scheme.”

Philip Lacey, Sales Director at David Wilson comments “The aim of HomeBuy Direct is to make the buying process more affordable and the Rumbles are a prime example of how this great scheme can help families make the move into home ownership.

“A lot tenants assume that they cannot afford to buy when quite often buying proves to be not that much more expensive than renting, as in Simon and Gemma’s case.

“For those who thought home ownership was out of reach, come and speak to our experienced sales negotiator who can tell you more about how HomeBuy Direct can make your dream a reality.”

Margaret Allen, Regional Director for the Homes and Communities Agency in the East Midlands, said: “In the current climate it’s important that we help a range of people to find the best housing option to suit them, and simultaneously help stimulate the building of new homes. HomeBuy Direct, with our £400 million investment, is just one way in which we’re doing this and it is proving extremely popular.”

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.

Situated on Montgomery Road, Montgomery Garden comprises a superb selection of three- and four- bedroom homes in a pleasing location on the outskirts of Earl Shilton.

The are a number of three- bedroom houses available to purchase on HomeBuy Direct but with limited allocation, homehunters are being encouraged to act fast to avoid missing out.

Prices at the development start from £169,995 (£118,996 on HomeBuy Direct).

For more information, visit during the opening hours of 11am-6pm, Thursday to Monday. Alternatively log on to dwh.co.uk.