Lifeline for homebuyers at Bridgewater Park

Miller Homes has announced that one of the first developments in the North West to offer the Government backed Homebuy Direct scheme will be its ‘Bridgewater Park’ in Darwen.

The Government led low cost home ownership initiative, Homebuy Direct [HBD] is run in partnership with Miller Homes on selected developments. It is offered to households with an income of less than £60,000. The qualifying criteria is aimed at providing wide access to home ownership.

The scheme is open to; first time buyers, key workers and people re-entering the property market after a relationship breakdown or families living in overcrowded accommodation. It will help more people who have found it almost impossible to get a foot on or climb the property ladder, either due to the tightening of mortgage lending or because they have struggled to raise the deposits they need to secure a brand new home.

In order to assist home buyers in the current challenging economic climate, Miller Homes has made the ‘Newton’ and ‘Kitchener’ 3 bedroom family homes at ‘Bridgewater Park’, available through the HBD scheme. Using HBD you can own and move-in to a ‘Newton’ for as little as £76,965 now, the normal price is £109,950. As well as taking advantage of the HBD initiative, buyers of the ‘Newton’ and ‘Kitchener’ will also get a beautiful new home.

The ‘Newton’ features an elegant gable-shaped roof line which has great curb appeal. This complements the very practical interior. The lounge has an open plan staircase that extends the living space and gives a modern focal point to the home. The contemporary kitchen and open plan dining is a light, bright space thanks to the French doors that makes the garden an extension of the home on warm days or a colourful back drop in winter.

A popular house on Miller Homes developments, the ‘Kitchener’ provides a traditional mews style home with a modern, warm and cosy interior. Featuring a welcoming hall, lounge, contemporary kitchen with subtle archway division for a dining area. Here the French doors open on to the garden which makes a wonderful focal point for family life. Upstairs and the master bedroom has the added luxury of an en-suite.

The new HBD initiative offers homebuyers the chance to pay a minimum of 70% of the value now, with both Miller Homes and the Government equally funding the remaining 30%. The 30% equity loan will only become repayable after 25 years, or when the home owner sells the property, which ever comes first. The major benefits of the scheme are there is no interest payable on the equity loan for the first five years and home buyers will be eligible for a 70% mortgage which generally comes with a more competitive rate.

Now nicely matured, ‘Bridgewater Park’ has proved a prime location for homebuyers. With its local shopping centre, schools and closeness to Liverpool city centre, the development creates a new residential community ideally placed for commuters with the M62 only a few minutes drive away.

For more information, visit Millerhomes.co.uk.