HomeBuy Direct at Martingales near Newmarket

HomeBuy Direct is a fantastic new scheme supported by David Wilson Homes and the Government which enables buyers to move into a new home at Martingales, Red Lodge near Newmarket for just 70 per cent of the purchase price.

Homebuyers taking advantage of it can receive an equity loan of up to 30 per cent, funded jointly by David Wilson and the Government. The buyer then finances the remaining 70 per cent of the purchase price either through a mortgage, a deposit or a combination of the two.

There is no interest to pay on the joint Barratt/Government equity stake for the first five years, although a fee will be charged from year six onwards.

HomeBuy Direct is available on a selection of three and four-bedroom houses in the new phase at Martingales, situated within the popular new development of Kings Warren in Red Lodge. There are several house designs to choose from in the new phase with prices starting from £169,995, which means that purchasers could buy their own three-bedroom home for as little as £118,996 using HomeBuy Direct.

Rebecca Littler, sales director of David Wilson Eastern, said: “HomeBuy Direct is a fantastic opportunity for people with little or no deposit such as first time buyers, key workers, long-term renters or growing families needing extra space. I would encourage anyone who thinks they can’t afford to buy their own home to come down to Martingales and speak to our sales team.”

David Wilson is holding a ‘Day at the Beach’ event at Martingales on Saturday 6th June from 12 pm to 4 pm, providing the perfect opportunity to visit the development and tour the stylish showhome. There will be fun for all the family to enjoy including a traditional Punch and Judy show, donkey rides and plenty of ice cream.

Households eligible to take advantage of the offer will be earning less than £60,000 and would not normally be able to afford to buy a suitable property on the open market. 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 the property is sold, the equity loan is repaid by way of a share of the sale proceeds.

Martingales will benefit from the many new facilities proposed for Red Lodge, including shops, play areas and sports and leisure facilities, with a new sports pavilion due to open this summer.

Travel and communication links are also very good. The beautiful city of Cambridge is an easy half hour drive away via the A14 offering a great selection of shops, cafés, bars and restaurants. For rail travel, Kennett station is just two miles from Martingales or for flying abroad, Stansted Airport is within 30 miles.

With the combination of a lovely rural setting close to the Suffolk and Cambridgeshire border, and the famous racing town of Newmarket just seven miles away, this is the perfect combination of town and country living.

For more information visit dwh.co.uk.