Melissa’s renting days are over thanks to Taylor Wimpey and FirstBuy!
Huge deposits and high house prices, combined with the rising cost of living, can make getting on to the property ladder a daunting, if not impossible, task for first time buyers.
This was the situation that Melissa Hadley (26) from Halesowen found herself in before she came across the FirstBuy scheme*, on offer at Henley Grange, a Taylor Wimpey development in the area.
Melissa comments: “The idea of buying my own home was always a far off notion for me because of the high deposits mortgage lenders were asking for. What made things even more out of reach was that I was looking to buy on my own, meaning I’d have to come up with the full deposit by myself.
“I’d decided that when the time came I’d want to buy at Henley Grange, so I thought I’d go and see what might be available to me in the future. Julie, the sales executive, was incredibly helpful and gave me an extensive pack containing information about the development and the schemes available to help people in my position. When I came to the section on first time buyers and the FirstBuy scheme, I was astounded by how little deposit was needed, less than £5,000, and thinking this was too good to be true, I went back to find out more.”
As would be the case with most first time buyers, having to pay just a 5% deposit was what attracted Melissa to the scheme. She continues: “I really couldn’t believe all I needed was a 5% deposit to buy an apartment at Henley Grange. If I didn’t have this option available to me I would have had to rent for another five to six years which, when you’re itching to own your own place, can be very depressing. Also, house buying was all new to me so I had a lot of questions about FirstBuy, the most important being was when would I have to start paying back the equity loan that is jointly provided by the HCA and Taylor Wimpey? The fact that you’ve got until the end of your mortgage term to pay it back is incredible, as that certainly gives me plenty of time to save.”
With the help of Taylor Wimpey and FirstBuy, Melissa was able to choose her dream home, a two bedroom Linley apartment, and move into it within just a few weeks!
She added: “The sales team at Henley Grange have been amazing throughout the whole process and really made sure I was aware of every last detail of the scheme, which on first glance can be quite confusing. The development is stunning and I haven’t settled for something less than I wanted just because I’m a first time buyer. I can’t believe I didn’t know about FirstBuy sooner and will certainly be telling all of my friends about it.”
Anne Wallace, regional sales and marketing director for Taylor Wimpey Midlands, says: “We’re thrilled Melissa has completed the purchase of her Taylor Wimpey home through FirstBuy! She is the first customer to use the scheme on the development and hopefully won’t be the last. It is so important for first time buyers to know that this scheme is available to them, as it could be the difference between owning your own home within a matter of weeks or renting for another five years. Henley Grange is a perfect development for first time buyers as there are plenty of modern homes on offer – so if you’re looking to buy your first home, head down to the development and talk to one of our sales team about Firstbuy, you may find it can turn your home ownership dreams into a reality.”
The government funded FirstBuy scheme* 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. The loan is repayable at the end of the mortgage term or when the property is sold. To be eligible, purchasers must be first time buyers and the total household earning should be less than £60,000.
Henley Grange comprises a collection of 154 mews-style homes and contemporary apartments located within the established residential area of Belle Vale. The development enjoys a semi-rural feel with the River Stour close by and attractive woodland and public open space to the rear.
Halesowen town centre has excellent facilities including the Cornbow Centre, which is filled with high street names, and a regular farmer’s market to explore. There’s also a selection of welcoming bars, restaurants and coffee shops. At the weekend purchasers will be spoilt for choice with a selection of sports and leisure facilities including parks and golf courses.
Currently available at Henley Grange is a selection of two bedroom apartments, three bedroom semi-detached homes and townhouses, and four bedroom terraced homes, priced from £94,995 or from as little as £75,996 with a 5% deposit of just £3,800 using FirstBuy*!
For further information, visit taylorwimpey.co.uk.
*Subject to affordability and circumstances on selected plots only.
*Terms and conditions apply and full details will be provided on request. Your home may be repossessed if you do not keep up repayments on your mortgage
