The Government's new FirstBuy initiative for first-time buyers is available on selected homes at Taylor Wimpey developments of houses for sale in Kent, new homes in West Sussex and property for sale in South London.
Taylor Wimpey is set to help first-time buyers across the South East onto the property ladder by offering the Government's just-launched FirstBuy scheme on a range of brand new homes at its developments of property for sale in Kent, West Sussex and South London.
FirstBuy, which was unveiled in the Chancellor's Budget earlier this year, supports first-time buyers in search of South East property to buy who could not otherwise afford to purchase a place of their own because of the large deposits now required by mortgage lenders.
FirstBuy 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 on selected new homes in Kent, houses for sale in West Sussex and new homes for sale in South London.
The loan is repayable at the end of the 25 year mortgage term or when the property is sold. To be eligible, purchasers must be first time buyers and their total household earning should be less than £60,000.
Taylor Wimpey is offering FirstBuy on selected homes at the following developments across the region:
Bridgefield, Ashford
Great Easthall, Sittingbourne
Meadow View, Herne Bay
Millers Court, Canterbury
Mistletoe Court, Gillingham
Repton Park, Ashford
RHNineteen, East Grinstead
Scholars Court, Anerley
The Bridge, Dartford
Watermill Grange, Loose
Kentleys Chase, Tonbridge
Windmill Walk, Langney
Jason Stokes, Regional Sales and Marketing Director for Taylor Wimpey, comments: "FirstBuy enables us to work closely with the Government to help more people in the region buy their first home. An increase in the number of first time buyers entering the market is also good news for those further up the chain.
"We believe that this scheme will make all the difference to those who can afford the monthly repayments on a mortgage but not the hefty deposit. With only 80 per cent of the property's value to finance, buyers will have access to a wider choice of mortgage products and more competitive interest rates."
Terry Fuller, Executive Director at the HCA said: "Thanks to FirstBuy nearly 2,000 first time buyers across the east and south east will be able to realise the dream of owning their home, while house builders will benefit from an additional source of sales, which will in turn give a much-needed boost to jobs in the development industry."
See Also: Property News (0), Taylor Wimpey (0), South London (0), West Sussex (0), Kent (0), Bridgefield (0), Ashford (0), Great Easthall (0), Sittingbourne (0), Meadow View (0), Millers Court (0), Canterbury (0), Gillingham (0), Repton Park (0), RHNineteen (0), East Grinstead (0), Scholars Court (0), Anerley (0), The Bridge (0), Dartford (0), Watermill Grange (0), Loose (0), Kentleys Chase (0), Tonbridge (0), Windmill Walk (0), Langney (0)
Date Published: 19 July 2011
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