HomeBuy Direct your way to a new apartment in Littlehampton

David Wilson Homes is soon to launch its eagerly awaited two bedroom apartments at the Littlehampton development, Kings Acres and will be offering the popular Homebuy Direct scheme on the new homes.

The two bedroom apartments offer spacious modern living, boasting an en-suite to the master as well as an additional bathroom. Prices start at just £169,995.

However if you purchase your apartment through the HomeBuy Direct scheme, you will only need to get a mortgage for 70 per cent of the price, making your purchase price just £119,000.

Sales director Mark Docherty said: “We’re expecting a lot of interest in the apartments, especially as we are able to offer HomeBuy Direct on the new homes.”

Buyers who are eligible for HomeBuy Direct are only required to find 70 per cent of the property’s purchase price themselves. The other 30 per cent is funded by a joint equity loan from David Wilson Homes and the Government’s Homes and Communities Agency (HCA).

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 have an income of 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. Buyers are required to have at least a five per cent of the 70 per cent to use as a deposit.

With the apartments boasting two bathrooms, not only are they perfect for couples vying for bathroom time but also a great choice for friends wanting to get out of the rental trap and purchase a home together.

“Friends buying together is extremely popular at most of our David Wilson Homes developments. It’s a viable option many don’t consider, when in reality pooling deposit funds and buying together is a sensible choice,” said Mark.

Kings Acres is located in the seaside town of Littlehampton, which boasts a European Blue Flag winning beach. The Harbour Park amusement centre, an all-weather adventure village, offers fun for all age groups and other local amenities include a variety of shops, bars and a theatre and cinema complex.

The A259 provides easy access to the neighbouring seaside towns of Bognor Regis, Worthing and Brighton, while the A27 offers a quick link to the cathedral city of Chichester, with its fine Georgian and medieval architecture.

For further information, visit the Kings Acres sales office, open from 10am to 5pm daily.