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Final chances to 'HomeBuy Direct' in Selby

28th March 2011 Print
Redrow’s Farnell house type, available at Saxon Court with HomeBuy Direct for a limited period only.

House hunters in the Selby area should act fast if they want to take advantage of a Government-backed scheme designed to make homeownership more affordable.

Dozens of people have already used HomeBuy Direct to help them buy a brand new Redrow home at Saxon Court in Sherburn in Elmet. But with limited funding available, time is running out for potential purchasers to benefit from the valuable assistance.

Patsy Aicken, sales manager for Redrow Homes (Yorkshire), commented: “HomeBuy Direct has been a great success at Saxon Court, where it has helped those who would otherwise have been priced out of the property market buy a home of their own at a price they can afford. The popularity of the homes and the incentive means that it’s now only available on selected properties for a limited period only. Those who leave it too late could miss out on the chance to buy a brand new home for a fraction of the cost.”

HomeBuy Direct enables eligible customers to take out an equity loan for up to 30% of the price of a property. Jointly funded by Redrow and the Homes and Communities Agency, the loan is interest free for five years. Customers can pay the outstanding balance when they have more funds available or when they come to resell.

It means a three-bedroom ‘Farnell’ style property with a study, usually costing £179,999, could be purchased for an initial outlay of just £125,999.

If that isn’t tempting enough, Redrow is offering added value by including carpets, curtains, light fittings plus turfed front and rear gardens in the price, helping to make home ownership even more affordable.

Neither will buyers have to find the extra cash for repairs and renovations that often come with an older second hand property.

“We’ve calculated that it could cost up to £30,000 to bring an older three-bedroom property up to the same high standard of one of our new homes. The cost of installing a new kitchen, appliances and bathrooms plus energy efficient heating, replacement windows and a whole host of other features soon adds up. By purchasing a new home instead of an older second hand property, house hunters could save themselves a small fortune in DIY costs, not to mention time and energy,” Patsy explained.

“Our kitchens boast the convenience of integrated top brand name appliances with tall units and extra wide drawers that offer plenty of storage. If you were to install the same high quality fixtures, fittings and appliances yourself it would cost more than £6,000, plus you would have the inconvenience of not being able to use your kitchen while the work is carried out.”

HomeBuy Direct is open to purchasers who have an annual household income less than £60,000, including first time buyers, those re-entering the property market following a change in circumstances such as divorce or the breakdown of a relationship and potentially families needing room to grow.

To find out how HomeBuy Direct could help you buy your dream home at an affordable price, visit the sales office, open Thursday to Monday from 10am to 5.30pm.

More Photos - Click to Enlarge

Redrow’s Farnell house type, available at Saxon Court with HomeBuy Direct for a limited period only.