Persimmon kick starts the housing market in Hampton

With several new build housing developers having said goodbye to the popular Government-led shared equity scheme HomeBuy Direct, potential new first time buyers may be forgiven for thinking they won’t be able to afford the home of their dreams in the Peterborough area.

Thanks to Persimmon Homes East Midlands though this needn’t be the case as thanks to further funding from the Government, the company is the only homebuilder in the area to extend the scheme to allow those starting out on the property ladder to comfortably achieve affordable home ownership at the Life2 development, situated off Kennedy Street.

David Hodgson, sales director for Persimmon Homes East Midlands, explains: “Though Kickstart I funding, we are able to continue to offer the 70 per cent shared equity scheme HomeBuy Direct until March next year, which comes as welcome news both for us and our purchasers.”

Through the initiative homebuyers will own 100 per cent of their property after initially raising a mortgage and a small five per cent deposit for 70 per cent of the asking price. This means that the homes at Persimmon’s sought-after Life2 development start from as little as £126,096 and with the average house price in the Peterborough area currently standing at £158,256 , Persimmon’s homes represent extremely good value for money.

David adds: “In the East Midlands region alone we’ve supported over dozens new purchasers through HomeBuy Direct, so it’s a vital tool for both us as a company and our new residents.”

HomeBuy Direct is available to those who earn a household income of less than £60,000. Househunters will be required to raise funding by way of a mortgage of 70 per cent of the purchase price and a small deposit. The remaining 30 per cent will be made up by an equity loan which is co-funded by the Government and Persimmon Homes and is interest free for five years.

Life² has been designed around a central square of communal gardens. Persimmon aims to create not only homes at the development, but a whole community too and the open space will act as the heart of the site for residents.

Hampton Hargate and neighbouring Hampton Vale have an excellent range of amenities, sports centre and a local school. It’s an ideal location for commuters with the A1 leading to Huntingdon, Cambridge and the North and the A605 to Northampton and A47 towards Wisbech and Leicester, close by.

If you would like to find out more about the homes available at Life2 please contact the marketing suite, open Thursday to Monday from 10.30am to 5.30pm.