Last chance for Bingham buyers to benefit from HomeBuy Direct

Bingham buyers looking for a stylish, easy to maintain property that’s affordable should act quickly to benefit from a government backed help scheme currently available at Mill Hill.

Available only until March, HomeBuy Direct could enable buyers to reduce their initial outlay by almost a third by taking out an equity loan for up to 30% of the purchase price.

HomeBuy Direct is jointly funded by developer Redrow and the Homes and Community Agency (HCA) and, crucially, the equity loan is interest-free for the first five years.

It is being offered on a number of three and four-bedroom homes at Mill Hill, which is situated close to some of England’s most desirable countryside, as well as being within walking distance of Bingham’s amenities and an easy commute to Nottingham.

Using HomeBuy Direct, a three-bedroom home with an en-suite master bedroom at Mill Hill that should be priced at £154,995, could be purchased for an initial outlay of just £108,497.

The properties also feature the latest interiors by Redrow, including contemporary kitchen designs with top brand name appliances and modern bathrooms with pristine white suites and quality fixtures and fittings.

Pauline Turnbull, sales director for Redrow Homes (Midlands), says: “HomeBuy Direct is the smart way for eligible purchasers to own a brand new home at this popular development.

“They will own 100% of the property from day one but can put off paying up to 30% of the asking price until a time when they have more funds available. They can start purchasing the remaining share in instalments after just 12 months.”

HomeBuy Direct is open to people who have an annual household income less than £60,000, including first time buyers and those re-entering the property market following a change in circumstances, eg. divorce or the breakdown of a relationship. It may also be suitable for growing families who can demonstrate a need for extra space.

Pauline adds: “With Redrow matching the government pound for pound to provide the 30% equity loan, no need for a large cash deposit and the loan being interest free for the first five years, this is an excellent opportunity for people to get the brand new home they’ve always wanted at a price they can afford.

“The fact they potentially only need to borrow 70% of the purchase price should give our customers access to some of the better mortgage deals around and, with new homes easier to maintain, more energy efficient and potentially cheaper to run than older second hand properties, it all serves to make the new homes at Mill Hill even more appealing.”

Mill Hill sits on the edge of the picturesque Vale of Belvoir (meaning ‘beautiful view’), and enjoys some breathtaking views of the surrounding countryside. The amenities of bustling Bingham are within easy reach and Nottingham town centre is just nine miles away – meaning Mill Hill is a popular choice for commuters and buyers looking for a tranquil lifestyle but without feeling too isolated.

For further details of Mill Hill and properties available with HomeBuy Direct, visit the marketing suite on Mallow Way, Bingham, or log on to redrow.co.uk.

For details of HomeBuy Direct, including eligibility, terms and conditions, go to redrow.co.uk/homebuydirect.