Buyers given a boost in Cambridge

Purchasers who are looking to buy an apartment in Cambridge but are struggling to find one that is affordable should make an appointment to visit Miller Homes’ Cambridge development, where the Government’s HomeBuy Direct scheme has just been launched on select apartments.

With the Government-backed scheme, purchasers can buy a two bedroom apartment for just £132,965, saving almost £57,000 on the asking price. The scheme is designed to give current households earning under £60,000 a year – including first time buyers and key workers – a helping hand to get on the property ladder.

HomeBuy Direct is available on a selection of one and two bedroom apartments at the development and it gives buyers the chance to purchase 100 percent of their new home by paying 70 percent of the value, with both Miller Homes and the Government equally funding the remaining 30 percent. One of the most appealing aspects of the initiative is that the loan is only repayable after 25 years, and there is no interest payable for the first five years.

One person who knows exactly how useful the scheme can be is sales representative Sarah Meredith, who has just purchased an apartment using HomeBuy Direct and has finally moved out of her parents’ home.

The 29-year-old found comfort in the scheme because it was a secure way of getting on to the property ladder. “The fact that Homebuy Direct is Government backed really gave me confidence about venturing onto the property ladder,” she says. “It was great that there’s no interest to pay straight away as it’s meant I’ve had the extra money to furnish my new home! Most of all, it’s just nice to have my own space. As much as I love my parents, it sometimes felt like we were getting under each other’s feet so it’s refreshing to finally have the independence of my own place.”

Miller at Cambridge offers a wide selection of properties including one and two bedroom apartments as well as three and four bedroom houses. Located in George Nuttall Close, the development is within walking distance of Cambridge city centre with its vast choice of amenities and recreational spaces. Ideal for the commuter the development is also just 2.5 miles from junction 13 of the M11.

To find out more about buying a property with HomeBuy Direct visit millerhomes.co.uk/homebuy. For general information on HomeBuy Direct visit direct.gov.uk.