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Help for first time buyers in Barton upon Humber

24th May 2011 Print
An example of the fashionable kitchens

First time buyers in North Lincolnshire could find they’re able to step onto the property ladder for nearly £30,000 less than they thought.

A Government backed scheme means they can put off paying up to 30% of the price of a new home until they’ve got more funds available.

Designed to help those who would otherwise be priced out of the property market, HomeBuy Direct has already helped dozens of people across the region and is available on selected homes at Fox’s Fold in Barton upon Humber.

The 30% equity loan is interest free for five years and, on a two-bedroom Allen at Fox’s Fold, could reduce the initial outlay by as much as £28,000. It should also mean they need a much smaller deposit than usual to secure a mortgage.

Patsy Aicken, sales director for Redrow Homes (Yorkshire), commented: “Research by the property website Rightmove* shows that while the number of people hoping to buy their first home has increased, their biggest concern is raising a deposit. It can be difficult to save up a large sum, especially if you’re paying rent, but just having around £3,000 could now be enough to secure a two-bedroom home at Fox’s Fold.”

With HomeBuy Direct, a two-bedroom ‘Allen’ style home, on the market at £93,999 could be snapped up for an initial outlay of just £65,799.

It means customers will only need a mortgage for a maximum of 70% of the property’s value and should have access to some of the better mortgage interest rates; usually reserved for those with large deposits or substantial equity in an existing home.

The outstanding balance can be repaid when the client has more funds available or when they come to resell.

HomeBuy Direct is open to first time buyers and those starting over after a change of circumstances, such as divorce, provided their annual family income is less than £60,000.

“Buying a home can seem daunting, particularly if it’s your first, but our friendly experienced sales team are here to help. They will guide customers through the home buying process, making it as simple and straight forward as possible. We take pride in delivering high levels of customer service so that our clients can enjoy their new home,” Patsy added.

Redrow has produced an easy to follow video guide to HomeBuy Direct, which can be viewed via the broadband television channel Redrow.TV. 

In addition to starter homes, Fox’s Fold also features three and four-bedroom properties. All homes, large and small, boast high specification interiors including fashionable kitchens with integrated top brand name appliances plus bathrooms with quality fixtures and fittings.

Fox’s Fold offers small town living at its very best with schools, shops and leisure facilities nearby. The development also benefits from excellent motorway links, making Hull, Leeds and Doncaster easily accessible.

For more information about HomeBuy Direct, visit the sales office and show homes at Fox’s Fold, open Thursday to Monday from 10am to 5.30pm.

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An example of the fashionable kitchens