First time buyers urged to take advantage of shared equity in 2010

A new decade is now upon us and for those who were thinking of purchasing their first home, Miller Homes is delighted to announce that first time buyers and renters can still take advantage of Government’s shared equity scheme HomeBuy Direct and make their first steps onto the housing ladder.

Owing to the huge popularity of HomeBuy Direct during 2009, the scheme is being extended to ensure that more people considering owning their own home can still pursue their dream.

Sue Warwick, national sales and marketing director for Miller Homes, said: “As many are still reeling from their Christmas spending sprees, it is no surprise that those thinking of purchasing their first home are going to ground and frantically saving every penny.

“The truth is that there has never been a better time to buy. House prices have been creeping up slowly over the past few months and with new allocations of HomeBuy Direct up for grabs, now is the perfect time to start the new decade in your very own home.”

HomeBuy Direct, the shared equity scheme designed to help first-time buyers, renters and those living at home to move into affordable home ownership, is available on a select number of new build properties. Buyers are offered an equity loan of up to 30 per cent of the purchase price, co-funded by The Government and Miller Homes. Any household earning £60,000 or less who could not afford to buy a suitable property on the open market is eligible for the scheme.

Sue Warwick continues: “The beauty of this scheme is that it allows people the flexibility and choice of owning the home that is right for them. We have a huge selection of homes available on the scheme so there really is a property to suit all tastes and requirements.

“One of the benefits with HomeBuy Direct is that you own 100% of your home from day one which isn’t the case with some other schemes which aim to assist first time buyers onto the ladder. Schemes such as HomeBuy Direct offer an alternative method of funding which can help avoid the potential pitfall of having to raise large deposit.”

Sue continues “The Home Buy Direct scheme has helped thousands of first time buyers and renters and it is fantastic news for them that we can continue to offer HomeBuy Direct for an extended period. There is clear evidence that the housing market is beginning to pick up so my message to first time buyers and renters is that now is the time to buy.”

To find out more, visit millerhomes.co.uk.