'Move quickly or miss out' is the message aimed at first time buyers from housebuilder Barratt which is encouraging those in Torquay to make the most of the Government housebuying savings schemes before the end of March.
Barratt, which currently has homes available at Torre Marine, says that funding for the Government's Kickstart scheme looks set to run out in March and the stamp duty holiday for first time buyers will not be extended.
Kickstart is part of a government-backed scheme and, as its name suggests, it is designed to boost the local housing market.
It gives buyers the opportunity to move into a home at Torre Marine for only 70 per cent of the price, with the remaining 30 per cent covered by a loan from Barratt and the Government's Homes and Communities Agency.
A smaller mortgage is required - making monthly repayments more affordable.
Barratt sales manager Mary Daymond comments: "Making homeownership a very affordable option now, Kickstart has been a huge success for Barratt right across England, never mind just in Torquay.
"With reports of first time buyers not getting onto the property ladder until their 40's due to the vast deposits required by lenders today, prospective purchasers may be feeling disheartened. However, Kickstart opens the door of homebuying to thousands of purchasers who have previously been unable to meet the upfront costs associated with buying a first property."
The housebuilder is also encouraging first time buyers to consider making further savings by the end of March, as it has been confirmed that the stamp duty holiday is scheduled to finish on properties to the value of up to £250,000. This could mean further cost savings of thousands of pounds for first time buyers who complete on a property before the looming deadline.
Mary continues: "Timing couldn't really be more important for first time buyers. The next few weeks provide a crucial window of opportunity for those looking to get onto the property ladder with as little upfront costs as possible. We would encourage anyone looking to buy a new home and make the most of affordable house prices to get in touch with us now. We will happily explain how the scheme works and we can help them get the ball rolling in order to not miss the March stamp duty deadline."
First time buyer homes at Torre Marine currently include the Vermont, a two bedroom apartment with parking which is priced at £142,500 which comes down to just £99,750 on Kickstart.
Situated in a prime location in Torquay - far enough away from the tourist traps to offer peace and quiet - Torre Marine is just a 15 minute walk to the beach, marine and town centre.
With a location close to the railway station at Torre, the development provides excellent transport links. Torre Marine is the perfect target for anyone aspiring to clinch an enviable coastal lifestyle.
Torre Marine is located near the A385 and A38 - offering easy access to the maritime city of Plymouth and the cathedral city of Exeter.
See Also: Property News (6705), Torre Marine (8), Barratt Homes (163), Torquay (9)
Date Published: 03 February 2012
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