Sudbury house hunters flock to Stour Croft

The Government-led 70 per cent shared equity scheme, HomeBuy Direct has received instant success in the Sudbury area, as Persimmon Homes Anglia reports seven sales and numerous other eager buyers are waiting for the green light on the initiative at the company’s Stour Croft development.

Jon Gibbs, sales director for Persimmon Homes Anglia, explains: “At Stour Croft we’re offering househunters a range of attractive homes, which continued to receive high levels of interest throughout the last year. We’ve found that a lot of would-be buyers have been frustrated that they couldn’t buy their brand new home on the open market due to the difficulties in obtaining a mortgage and saving for a deposit.

“This is where HomeBuy Direct has really appealed to our Sudbury market, as it allows people to own 100 per cent of their home after just raising a mortgage for just 70 per cent of the property price, with the added bonus that they don’t even have to save for a deposit.”

Housetypes available at Stour Croft include a range of two, three and four bedroom homes, in a variety of six differing styles. Prices at the development start from just £141,950 on the open market and £99,365 for one of the carefully selected HomeBuy Direct properties.

Jon concludes: “We here to reassure those looking for a brand new home and even those that haven’t started looking because they believe they can’t afford to move onto the property ladder, that homeownership in the beautiful area of Sudbury is achievable and affordable with us.”

HomeBuy Direct is suited to those earning a household income of less than £60,000. Through the initiative, purchasers will be required to raise funding for 70 per cent of the purchase price including a mortgage plus, but are not requested to find, a deposit for their new home. The remaining 30 per cent is made up by an equity loan which is co-funded by the Government and Persimmon Homes.

The picturesque town of Sudbury, located one of mile away, offers an abundance of local amenities including shops, restaurants and pubs as well as leisure facilities and a monthly farmers market. The development itself is situated ideally for those wanting to commute, with Colchester just a short drive away via the A13.

If you are interested in the properties available at Stour Croft, log on to persimmonhomes.com for more information.