A lifeline for homebuyers in Littlehampton

David Wilson Homes is offering Littlehampton buyers a lifeline with its HomeBuy Direct scheme at Kings Acres.

This special government-backed incentive, available on selected plots, helps first-time buyers and key workers who might otherwise be priced out of the housing market get a foot on the ladder.

Buyers are only required to find 70 per cent of the purchase price themselves. The other 30 per cent is funded by a joint equity loan from David Wilson Homes and the Government’s Homes and Communities Agency (HCA).

“I would urge anyone who has been priced out of owning their own home for the last few years to call us to discuss the deals we can offer under HomeBuy Direct at our Kings Acres development,” said Mark Docherty, David Wilson Homes sales director.

David Wilson Homes is backing HomeBuy Direct with a total of 3,000 allocated homes nationwide.

Mark Docherty, David Wilson sales director, said: “People who have been priced out of the housing market for years can see this is an outstanding opportunity to buy a new, lower 2009 priced home. The 30 per cent equity loan from ourselves and the government means that, in many cases, they don’t even need to have a deposit.”

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.

Kings Acres is located in the seaside town of Littlehampton, which boasts a European Blue Flag winning beach. The Harbour Park amusement centre, an all-weather adventure village, offers fun for all age groups and other local amenities include a variety of shops, bars and a theatre and cinema complex.

The A259 provides easy access to the neighbouring seaside towns of Bognor Regis, Worthing and Brighton, while the A27 offers a quick link to the cathedral city of Chichester, with its fine Georgian and medieval architecture.

For further information, visit the Kings Acres sales office, open from 10am to 5pm Thursday to Monday, or visit dwh.co.uk.