FirstBuy opportunities in Sussex, Surrey and Kent

Taylor Wimpey is launching the Homes and Communities Agency’s new FirstBuy initiative for first-time buyers at its developments of property for sale in Kent, Sussex and Surrey.

Taylor Wimpey South West Thames is set to help first-time buyers onto the property ladder by offering the Government’s just-launched FirstBuy scheme at its developments of new homes in Sussex, Surrey and Kent.

FirstBuy, which was unveiled in the Chancellor’s Budget earlier this year, supports first-time buyers in search of apartments or houses for sale in Surrey, Sussex or Kent who could not otherwise afford to purchase a place of their own because of the large deposits now required by mortgage lenders.

FirstBuy works through a joint loan of 20% from the Homes and Communities Agency (HCA) and Taylor Wimpey, which means that eligible purchasers only need put down a 5% deposit and obtain a 75% loan-to-value mortgage for qualifying South West Thames properties. The loan is repayable at the end of the 25-year mortgage term or when the property is sold. To be eligible, purchasers must be first-time buyers and their total household earning should be less than £60,000.

Taylor Wimpey is offering FirstBuy on selected homes at the following developments across the region:

WEST SUSSEX
Vibe, Haywards Heath
The Ridings, Pulborough

EAST SUSSEX
The Grange, Hailsham
Gainsborough Place, Wivelsfield
Miller’s Keep, Stone Cross

KENT
Leybourne Chase, West Malling

SURREY
Aura, Croydon
Centrale, Hackbridge

Fiona Creed, Regional Sales and Marketing Director for Taylor Wimpey, comments: “FirstBuy enables us to work closely with the Government to help more people in the region buy their first home. An increase in the number of first-time buyers entering the market is also good news for those further up the chain.

“We believe that this scheme will make all the difference to those who can afford the monthly repayments on a mortgage but not the hefty deposit. With only 80 per cent of the property’s value to finance, buyers will have access to a wider choice of mortgage products and more competitive interest rates.”

Colin Molton, executive director for the HCA South and South West, said: “Thanks to FirstBuy, more than 1,600 first time buyers across the south and south west will be able to get a foot on the property ladder, while house builders including Taylor Wimpey will benefit from an additional source of sales, giving a much-needed boost to the development industry.”

For further information on FirstBuy through Taylor Wimpey visit: taylorwimpey.co.uk/FirstBuy