HomeBuy Direct properties selling out at Burgess Brook
Time is running out for homebuyers in Newcastle-under-Lyme to take advantage of up to a 30 per cent loan on a brand new home at David Wilson Mercia’s Burgess Brook development on Keele Road.
HomeBuy Direct, the popular Government scheme which is currently being offered at Burgess Brook offers eligible people the chance to purchase a brand new home for just 70 per cent of the price. However, anyone interested should act now as the scheme is quickly selling out.
Burgess Brook currently offers a selection of apartments with the scheme and with prices starting from just £98,450, eligible purchasers could move in for as little as £68,915.
With the chance to move into a brand new home for such an outstanding price, it is no surprise that the scheme has proven to be popular with purchasers and there are now only five HomeBuy Direct allocations remaining at Burgess Brook.
Carole Ashworth, Sales Manager for David Wilson Mercia commented, “Homebuy Direct is a great scheme for anyone who is currently struggling to get a foot onto the property ladder. Eligible purchasers could receive up to a 30 per cent equity loan on the value of the new home, which means that they could find that they are able to buy the home of their dreams without over stretching their finances.
“Almost 50 per cent of the HomeBuy Direct allocation at Burgess Brook has now been sold and only five homes are now available to buy using the scheme. However, anyone interested will have to be quick as all funding must be used by March.”
“Time really is running out, so anyone interested in taking advantage of this Government money should register their interest now so as not to miss out.”
Eligible purchasers using HomeBuy Direct will benefit from up to 30 per cent equity loan which is jointly funded by David Wilson and the Government. The final 70 per cent is financed by the purchaser with a mortgage and deposit.
Paul Spooner, regional director for the West Midlands division of the Homes and Communities Agency, 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.
Burgess Brook also offers a selection of three- and four-bedroom houses. Prices start from £175,000. For more information log on to dwh.co.uk/burgessbrook.
