HomeBuy Direct helps Berenice on to property ladder

Until she discovered HomeBuy Direct at Taylor Wimpey’s Concept development, near Bury St Edmunds, Berenice O’Carroll doubted she would be able to afford a home of her own.

Fed up with lining her landlord’s pockets every month, the Cambridge University graduate was desperate to leave rented accommodation behind and start investing in her future, but high property prices meant homebuying in Cambridge was out of the question.

It was while researching special incentives for first-time buyers online that the 25-year-old encountered HomeBuy Direct at Concept, enabling her to purchase a spacious three-bedroom townhouse at the development for only 70% of its price*.

Conveniently located in the quiet village of Red Lodge, Suffolk, Berenice’s new home is just a short commute from work in the centre of Cambridge – and costs £100 less each month in mortgage repayments than the monthly rent she had paid for a one-bedroom apartment in the city!

“I’d had enough of renting and watching my money disappear down the drain every month, but couldn’t afford to buy,” she says. “At the time I was looking, mortgages for first-time buyers were very difficult to come by unless you had £25,000 or more sitting in your bank account for a deposit.

“With HomeBuy Direct, 30% of the price of your property is covered, so you don’t need a big deposit. It was exactly what I needed. My new home has all the space I need and it works out cheaper each month than renting my much smaller flat!”

Berenice, an archaeology graduate who works for a Cambridge University project aimed at making science more accessible to the public, moved into her new home at the end of March with boyfriend Tim.

“It’s just the right size for us, particularly as I work from home a lot of the time and need an extra room where I can shut the door and cut myself off from all the everyday distractions,” she says.

Under the HomeBuy Direct initiative, jointly funded by the leading housebuilder and the Homes and Communities Agency, purchasers need only raise a 5% deposit and Taylor Wimpey will help arrange a mortgage covering 65% of the purchase price.

The remaining 30% equity comes in the form of a great-value loan which is interest-free for the first five years and low-interest for up to 20 years thereafter.

Although HomeBuy Direct properties are now sold out at Concept, similar schemes are available to qualifying buyers purchasing selected homes at Taylor Wimpey developments across the East Anglia region.

A selection of stylish two, three and four-bedroom homes is now on sale at Concept from just £132,995, with a range of alternative time and money-saving initiatives on offer on selected properties, including help with deposits and legal fees for first-time buyers and, for those with a property to sell, assistance with finding a purchaser.

Incentives can be tailored to customers’ individual requirements and are subject to availability, with further information available from the Sales Executive.

Perfectly positioned in rural Red Lodge, Concept enjoys the best of both town and country living, with Suffolk’s idyllic heathland on the doorstep and great transport links which put homeowners within easy reach of Cambridge, Newmarket, Ely and Bury St Edmunds.

For commuters, Kennett Station is just three miles from the development, offering a regular direct rail service to Cambridge in 30 minutes, while the A11 is only a few minutes’ drive away and provides quick links to the A14, Newmarket and Mildenhall.

While the nearby towns offer a wide choice of schools, shops, restaurants, bars and leisure facilities, Thetford Forest Park is just a 15-minute drive away – a great setting for walking, cycling, riding and picnics.

See Also: Property News (0), HomeBuy Direct (0), Bury St Edmunds (0), Concept (0), Taylor Wimpey (0)