A lifeline for Peterborough house hunters

First time buyers in the East Midlands region who are finding themselves priced out of the housing market in their local area will soon be able to secure a brand new home at a fraction of its market value.

The UK’s finest homebuilder, Charles Church, has now launched a collection of attractive properties priced at 70 per cent market value at its Hampton Vale developments Brackendale Grosvenor Gardens.

Properties will be sold under the Government’s HomeBuy Direct scheme, whereby househunters will be required to raise funding, including a mortgage plus a small deposit where available, of at least 70 per cent of the purchase price. The remaining 30 per cent will be made up by an equity loan which is co-funded by the Government and Charles Church.

Households earning less than £60,000 who can not otherwise afford to purchase a suitable property unassisted on the open market will be eligible to apply. HomeBuy Direct properties include a range of the three/four bedroom Hampton style and the four bedroom Bretton designs at both Brackendale and Grosvenor Gardens. Prices for the shared equity homes start from just £136,496.

“We both realise and understand the significant difficulties many first time buyers and key workers are facing in getting a foothold on the property ladder which is why we’ve taken decisive action to help those who are unable to buy without assistance” comments Steve Matthews, sales director for Charles Church.

He continues: “First time buyers are pivotal in sustaining the property market which is why we are doing all we can to help them become fully fledged property owners. We are convinced that with interest rates at an all time historic low level along with practical schemes such as HomeBuy Direct, young househunters will realise that there has never been a better time to purchase a new home.

“The HomeBuy Direct scheme, designed to rebuild confidence in the housing market, is a boost for the housing sector and is sure to come as welcome news amongst Peterborough youngsters.”

Properties at Brackendale include a selection of three, three/four and four bedroom designs, meanwhile at Grosvenor Gardens, Charles Church is offering a range of three and four bedroom designs.

Hampton Vale is an attractive new community being created in Peterborough. There is a range of local amenities near to the development and a wide variety of shops, restaurants, cafés, reputable schools and leisure facilities on offer in Peterborough itself.

For further information on the range of Charles Church properties available under the HomeBuy Direct scheme, visit Charleschurch.com.