HomeBuy Direct to benefit families in Peterborough
Families in Peterborough may be surprised to hear that they can move into a brand new three- bedroom home for just £135,796 at David Wilson South Midlands’ Waters Edge development in Hampton Vale thanks to the Government’s HomeBuy Direct scheme.
The Government launched HomeBuy Direct earlier this year in a bid to combat affordability issues within the housing market. It allows purchasers to initially purchase a property for just 70 per cent of the asking price, the remaining 30 per cent if funded through a joint David Wilson and Government loan.
The housebuilder is offering this deal on plot 50 which is a three- bedroom home in the style of a Bewick and priced at just from £193,995, this superb home offers a great opportunity for families to move into a brand new home without overstretching budgets.
“The Bewick offers unbelievable value for money and if purchasers take advantage of HomeBuy Direct, then they could find themselves moving in for just £135,796.” comments Jackie Day, Sales Director at David Wilson.
“HomeBuy Direct was introduced as a way of combating affordability issues and it is proving a welcome lifeline to purchasers concerned about living beyond their means during the current economic climate. But at £135,796 on HomeBuy Direct, the Bewick is a great buy and families who are currently renting could find that buying actually works out cheaper.”
Margaret Allen, Regional Director for the Homes and Communities Agency in the East Midlands, said: “In the current climate it’s important that we help a range of people to find the best housing option to suit them, and simultaneously help stimulate the building of new homes. HomeBuy Direct, with our £400 million investment, is just one way in which we’re doing this and it is proving extremely popular.”
The scheme is open to first time buyers, key workers and others who are currently renting. People who have previously owned a home but are now unable to do so – perhaps where relationships have broken down – can also apply.
Households eligible will be earning less than £60,000 and would not normally be able to afford to buy a suitable property on the open market.
There is no interest to pay on the equity stake for the first five years, although a small fee will be charged from year six onwards.
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 they sell their home, the equity loan is repaid by way of a proportionate share of the sale proceeds.
Located on Spring Avenue, Waters Edge comprises a superb selection of three- and four- bedroom homes.
The development benefits from a good range of local amenities including shops, public houses and schools whilst Peterborough, with all its leisure and recreational facilities, is close at hand.
The area benefits from an excellent road and rail network with travel time to London just 45 minutes on the direct line from Peterborough, making it a truly great location.
Prices start from £193,995.
For more information visit the market suite during the opening hours of 11am-6pm, daily, or log onto the website at dwh.co.uk.
