Gain independence with HomeBuy Direct

Many young people want to gain their independence and this means finding a place of their own. In recent years, however, with the high cost of properties and the need for a large deposit to secure a mortgage, this has become unattainable for many people who, like Simon Moseley, have been forced to continue living with their parents.

So do these people have to give up on their dream of home ownership? Simon, who is studying accountancy whilst working, had been looking for a house he could afford for six months and it was only when he discovered HomeBuy Direct that he realised it was, in fact, possible to buy his own home.

The scheme enables eligible applicants to purchase a brand new home from participating developers. Buyers can take advantage of equity loans provided jointly by the developer and the government of up to 30 per cent of the property value, with no interest to be paid on the loan for the first five years.

“I spotted the scheme while browsing the internet,” said Simon, “and it seemed like the perfect solution as I didn’t like the idea of wasting money renting. On top of that, it would have taken me years to save for a large enough deposit but with HomeBuy Direct, I was able to get a smaller deposit together and still have my own home.”

Simon found a perfect two-bedroom apartment from Stonebeech Builders, in Cannock, which he was able to buy using a combination of a 75 per cent mortgage and a 25 per cent loan. His application was processed by Orbit HomeBuy Agents, and soon Simon was enjoying life in his very own home.

“Orbit HomeBuy Agents were always helpful when I contacted them and the process was quick and straightforward, ”Simon added. “I think HomeBuy Direct is a great way for young professionals such as myself to get on the ladder.”

A further eight Stonebeech properties remain for sale at the development in Park Street, Cannock. All are available to purchase using HomeBuy Direct and you can find out more by visiting orbithomebuyagents.co.uk.