Council commends affordable housing scheme
East Cambridgeshire District Council has praised the joint efforts of Orbit HomeBuy Agents and leading house builder, Persimmon Homes East Midlands, following impressive sales results at the ‘Holmewood’ development in the village of Littleport.
Located off Parsons Lane, Holmewood has seen the completion of 31 homes under the government-funded HomeBuy Direct scheme; impressive results considering just 18 HomeBuy Direct units were originally planned!
HomeBuy Direct is just one of the low cost home ownership options available under the ‘HomeBuy’ banner. The scheme allows buyers to purchase a new home for a minimum of 70% of the market value. Equity loans of up to 30% are provided jointly by the house builder and the government which are interest free for the first five years.
“HomeBuy Direct has made a significant contribution, not only in addressing the housing needs of purchasers who would otherwise be unable to get a foot on the ladder, but also in contributing to continuing development, economic activity and the ‘feel good factor’ in Littleport” Said Oliver Cook, Housing Development and Enabling officer at East Cambridgeshire District Council
“I hope that there will be more low-cost homes in order to help buyers into home ownership and to contribute to the well-being of the area”
Karen Coleman Head of Orbit HomeBuy Agents said “HomeBuy Direct is an incredibly popular product; the success of the scheme at Holmewood is echoed at developments across the country and highlights the ongoing need for affordable homes”
“We are incredibly pleased that the partnership between Orbit HomeBuy Agents and Persimmon has enabled a number of first time buyers to realise their dream of home ownership.”
Adrian Evans, Managing Director for Persimmon Homes East Midlands, adds: “We received a great amount of demand from first time buyers for our new homes at our Holmewood development, so the fact that we were able to offer HomeBuy Direct was an extremely valuable selling tool. It allowed several first time buyers to buy their dream home at a price they could comfortably afford.”
For further information about the range of HomeBuy initiatives in your area, visit orbithomebuyagents.co.uk.