Funding boost for first time buyers in Warrington
The North West’s leading housebuilder has secured national funding to help First Time Buyers in Warrington who want to take their first step on the housing ladder.
David Wilson Homes North West today announced that hundreds of local households who have previously been priced out of home ownership will be able to take advantage of the Central Government money to buy a property of their own.
The funds are part of a new scheme called FirstBuy which the Chancellor announced in the Budget in March. It is designed to give First Time Buyers in Warrington a route to home ownership at the lowest possible cost and with the lowest possible deposit.
“Hundreds of First Time Buyers in the North West now have the chance to move into a new home with a deposit of as little as £4,400,” said Steve Jackson, Sales Director at David Wilson Homes North West.
“Everyone should be clear that this is a great opportunity to buy a privately owned first home of your own.
“A lot of people in Warrington will be eligible to take advantage of FirstBuy – any household with a combined income of up to £60,000 qualifies - so I would urge anyone interested to contact us as soon as possible. We have limited availability in this area but we know that demand will be high because thousands of people have already pre-registered their interest on our website.”
Under FirstBuy, buyers will be offered a loan of up to 20 per cent of the price of the property, jointly funded by David Wilson Homes North West and the Government’s Homes and Communities Agency (HCA).
The buyers then have to find the remaining 80 per cent of the price themselves. Up to 75 per cent of this could be a mortgage, leaving a deposit of just five per cent.
In practice, that means that anyone buying a two-bedroom house from David Wilson Homes North West priced at £109,995 under the scheme would potentially be able to get on the housing ladder with a deposit of as little as £4,400.
“From the point of view of a First Time Buyer in Warrington, FirstBuy represents a once in a lifetime opportunity to take their first step on the housing ladder,” added Steve.
Richard Hill, deputy chief executive at the HCA, said: “Thanks to FirstBuy over 10,000 First Time Buyers will be able to realise the dream of owning their home, while house builders will benefit from an additional source of sales, giving a much-needed boost to the development industry.”
David Wilson Homes North West’s developments in Warrington include Anniston Place, part of the popular Chapelford Village which presents a collection of two, three and four bedroom homes. Other developments within Chapelford Village include Dakota View, which presents a number of one, three and four bedroom homes, North Square which comprises two and three bedroom homes and Cleveland Place, which features one, three, four and five bedroom homes. David Wilson Homes North West’s Walton Locks development is also located in Warrington and offers an exciting new range of three, four and five bedroom homes adjacent to the Manchester Ship Canal.
For further information visit: dwh.co.uk
