Rescued from a nightmare

Being able to choose and buy your first home should be a dream come true, but for one young Redditch couple the whole experience had turned into a nightmare – until Bloor Homes came to the rescue with a special deal that meant they could make their long awaited move.

Sarah Ebbitt and Gary Carrigan thought had found the home they wanted back in last May. They paid their £1500 deposit to the developer and settled to wait eagerly for their move in July but, as Sarah explains, things then started to go wrong: “It was a complete nightmare. July came – and went – with no sign of our move. The developer kept telling us that it would be just a couple of weeks or a month more, but this went on all through the summer and autumn. Because we had paid our deposit, all we could do was sit back and wait. Then in December, we found out that there was a major problem with the development. We had to start looking all over again but we weren’t able to get the money for the deposit back.”

Disappointed, the couple started their search £1500 out of pocket and rather disillusioned with house builders. However, a visit to Bloor Homes’ Castle Court development in Astwood Bank restored their faith when they found an apartment they liked with a deal that meant they could afford it. Just over three weeks later they moved into their new home.

Gary says: “Castle Court was in a much better residential area and we particularly liked it because it is small, with just a few apartments. What was even better was the completely professional way that Bloor handled our purchase. When we explained that the price would push our budget a bit too far, the sales adviser Jenny explained Bloor’s Homestart scheme which offered the perfect solution.”

The Homestart scheme means that purchasers can move in for just 75% of the asking price – and they won’t have to pay the remaining 25% for up to 15 years. Purchasers applying for a mortgage could find that they can obtain one for the whole amount they have to pay, without having to find funds for a deposit. The remaining 25% doesn’t have to be paid for up to 15 years, but the home belongs 100% to the purchaser from day one.

If the buyer wants, they can keep this agreement in place for up to 15 years, at the end of which time they will purchase the remaining share of their home at whatever the market value is at the time. Alternatively, after three years they can opt to purchase the remaining share in blocks of £15,000. Should they decide to move before the 15 years is up, the share will be paid back when the sale goes through.

Sarah says: “Jenny explained clearly how the scheme works and the whole process could not have been more simple or straightforward. We liked everything about the apartment and the development and after all that waiting we were able to complete the whole purchase in no time at all.”

Bloor Homes is offering the Homestart scheme on other selected plots at Castle Court, where there is now one apartment remaining at £155,950 and a choice of three-storey three bedroom mews homes ranging in price from £234,950 to £284,950. For further information, visit bloorhomes.com.