Step onto the property ladder in Chorley

First time buyers in Chorley can invest in a stylish yet affordable home of their own with the help of a Government-backed scheme.

HomeBuy Direct is available on selected New Heritage Collection properties at Redrow’s Sandhurst Gardens, enabling those starting out in life to buy the home of their dreams at a price they can afford.

Lesley Myers, area sales manager for Redrow Homes (Lancashire), said: “HomeBuy Direct is all about helping those who would otherwise be priced out of owning their own home, to make that all-important first step onto the property ladder. Eligible customers can snap up a brand new home at a fraction of the cost thanks to an equity loan jointly funded by Redrow and the Homes and Communities Agency.”

With HomeBuy Direct a three-bedroom semi-detached ‘Broadway’, on the market at £152,995, can be snapped up for an initial outlay of just £107,096. The loan can be repaid when the customer has more funds available or when they come to resell.

“The New Heritage Collection has proved popular since its launch earlier this year. It features traditional-looking homes with ‘Arts & Crafts’ influenced exteriors and ultra modern interiors for 21st century family life. First time buyers might have thought these sought-after homes would be out of their price range but not so with HomeBuy Direct,” Lesley commented.

“Buying a New Heritage Collection home means our customers can enjoy the character more typical of a period property but with none of the drawbacks as it won’t need expensive repairs or renovations. And because all Redrow homes are built to modern, energy efficient standards, they’re also potentially cheaper to run.”

HomeBuy Direct is open to people with an annual household income of less than £60,000, including first time buyers and those re-entering the property market following a change in circumstances, e.g. divorce or the breakdown of a relationship.

“Because they receive an equity loan of up to 30%, which is interest free for the first five years, purchasers will only need to apply for a mortgage with a maximum loan-to-value of 70%. This will generally give them access to much improved mortgage interest rates without the need for a large cash deposit,” Lesley explained

Chorley town centre is just half a mile away from Sandhurst Gardens, which enjoys a good choice of schools, shops and services within easy walking distance.

For more information about HomeBuy Direct, visit the sales office and show homes, open 10am to 5.30pm Thursday to Monday inclusive.