Bovis Homes to help hundreds of first time buyers
Bovis Homes, one of the UK’s best-known housebuilders, is set to help hundreds of housebuyers across the country thanks to its participation in the new Government-backed FirstBuy scheme. At dozens of its developments up and down the UK, first-time buyers will be able to enjoy 100 per cent ownership of a brand new home while paying just 80 per cent of the price of the property up-front.
The balance will be funded equally by Bovis Homes and some of the £8 million of FirstBuy funding that the housebuilder has been allocated by the Homes and Communities Agency. Under this shared equity scheme, that 20 per cent loan is interest-free for the first five years and repayable when the property is sold or within 25 years. What’s more, the buyer is only required to provide a five per cent deposit on the new home and will benefit from the preferential rates of a 75 per cent mortgage on their new home.
“We're delighted to team up with the Government in backing this scheme which should represent a major boost for first-time buyers,” says Bovis Homes’ Group Marketing Director Kevin Wilkins. “High deposits have been identified as a major factor in preventing people getting on the property ladder, pushing up the average age of the first-time buyer to 37 according to recent Government reports, but this new package bucks that trend. We've got a wide range of properties that are ideal for the first-time buyer market and the new scheme offers a superb opportunity to snap them up with a lower deposit and an attractive mortgage proposition.”
With such a broad spectrum of developments and property types available, it’s impossible to single out the very best development in the current Bovis Homes portfolio, but here are five that catch the eye, where FirstBuy funding will be available:
Byrons Wood, Hucknall, Nottinghamshire – Just a short distance north of Nottingham, accessible via a tram, buyers have a choice of three-, five- and six-bedroom properties priced from £139,995, with good local amenities and proximity tio the M1 making it an ideal base for families and/or commuters.
Chestnut Place, Ashford, Kent – Priced from £189,950, these new homes in Kent, located in the fast-expanding town of Ashford, benefit from top-class transport links including motorway and high-speed rail services and an ever-growing list of new amenities.
Cleobury Park, Cleobury Mortimer, Shropshire – With a fantastic choice of homes with from one to six bedrooms, and prices starting at £89,995, there really is something for everyone at this semi-rural development, on the doorstep of Shropshire countryside and the amenities of Ludlow and Kidderminster.
Little Wellthorne, Ingbirchworth, South Yorkshire – Two-bedroom homes start at just £142,995 at this development that is equally handy for the M1 or the Peak District and would make a perfect commuter base for homebuyers working in Sheffield or Leeds.
The Hollies, Speedwell, Bristol – A selection of two- and three-bedroom apartments, coach houses and townhouses make this a perfect choice for a first home, close to the city centre yet conveniently connected to other destinations by road and rail. Prices start at £128,995.
