A helping hand for first time buyers in Sherwood

First time buyers looking a new home in Sherwood are being given a helping hand courtesy of the Government and house builder, Peveril Homes.

With the First Buy scheme, available at Burlington Place, off Hucknall Road, purchasers are required to raise just 80 per cent of the price of the home, made up from a deposit and mortgage. The remaining 20 per cent is jointly provided by the Government and Peveril Homes as an equity loan, which is interest free for the first five years. To qualify, you have to be a first time buyer and, as a household, earn less than £60,000 a year – it’s as simple as that.

At Burlington Place, the incentive is available on the Ashby, a 3 bedroom, semi-detached property. Currently, for example, if purchasers were to buy the Ashby, priced from £149,950, they would have to pay just £119,960.

Angela Thomas, sales and marketing manager at Peveril Homes, said: “The struggle that many first time buyers have to raise a deposit and secure a mortgage has been well documented. We’re keen to help our purchasers the best we can, so the fact that we can offer the FirstBuy scheme, should ease the burden of buying.

“However, house hunters should note, our availability in Sherwood is limited, so I would enquire about the incentive as a matter of priority to avoid disappointment.”

Burlington Place is a scheme of 2, 3 and 4 bedroom new homes in Sherwood, suitable for a host of buyers. It has already proved popular with purchasers, which is why there are only eight properties remaining.

Lying just three miles from Nottingham city centre, this exclusive development is ideally placed to make the most of what the city has to offer. But, if you want to keep things closer to home, Sherwood itself has a selection of shops and eateries for you to try at your leisure. In addition to this, there’s a variety of good schools, both state and independent, making it a great choice for families. Meanwhile, access to the M1 is excellent, making Sherwood a popular base for those looking to commute.

To find out more about FirstBuy and the new homes in Sherwood, visit the sales office and view home, open Fridays to Mondays from 11am to 5pm. Alternatively, visit peverilhomes.co.uk.