Inspace Homes holds first-time buyer seminar in Birmingham

Despite the latest interest rate cut, first-time buyers are still struggling more than ever to get onto the property ladder. With news of the credit crunch and high mortgage rates, the property world is a daunting place for those looking to purchase their first home.

The latest government-led initiative to help first time buyers, MyChoice HomeBuy, which offers a contribution of a deposit of up to 50% of the purchase price of a first home, will be the subject of a special seminar to be held on Wednesday, 30th April at Malmaison Hotel in Birmingham at 6pm. The seminar, hosted by Inspace Homes and Mercian Housing Association, will dispel some of the myths about shared ownership schemes and show that getting onto the property ladder is attainable for many first-time buyers.

The MyChoice HomeBuy scheme, which was announced in the recent Budget on 1st April, is an equity loan specifically for first-time buyers with household incomes between £20,000 and £60,000 (from as low as £15,000 for the West Midlands), showing that this scheme is not just available to those in the lowest income band. This is an ideal opportunity to assist struggling first-time buyers into home ownership.

Inspace Homes is one of the first developers in the West Midlands to offer the MyChoice HomeBuy scheme at its development Mica Point. Mica Point is a collection of 62 one and two bedroom apartments in Lytham Croft, Birmingham. Located on Great Colemore Street, the properties at Mica Point are situated within a modern four-storey building that offers contemporary city living at its best.

Sue Gresswell, Sales and Marketing Director at Inspace Homes, comments: “By holding the seminar, we wanted to provide first-time buyers with an opportunity to learn that it is possible to purchase their first home in the current market. Mica Point is an ideal development for first-time buyers with its contemporary apartments at affordable prices.

“Many people might be surprised to learn that they qualify for this government scheme, so there is hope out there for many. Inspace Homes remains committed to assisting first time buyers on to the property ladder and working with Mercian Housing Association, we are making that dream a reality for many.”

The first completions at Mica Point are expected in December 2008 and prices will start from £134,000. For further information visit Mica-point.co.uk.

The seminar starts at 6pm and will take place at the Malmaison Hotel on One Wharfside Street, Birmingham B1 1RD.

The apartments at Mica Point range in size from 469sq ft for a one-bedroom property and rise to 710 sq ft for a two-bedroom apartment. They offer open plan living spaces and a very high interior specification. Kitchens are from Nolte’s Manhattan range and come complete with integrated Zanussi appliances. Bathrooms are fitted with white sanitaryware by Ideal Standard, heated tower rails, chrome taps and a glazed bath screen.

The development is within easy reach of the cosmopolitan centre of Birmingham, with its broad range of shops, bars and restaurants. Birmingham New Street station is five-minute walk from Mica Point and offers fast and frequent services into London Euston with journey times around 90 minutes. For road users, the M6 is located 10-minutes drive away. For international travel Birmingham International airport is only a 20-minutes drive away.

For more information, visit inspacehomes.co.uk.