Shropshire buyers step onto the property ladder with Crest

Buyers have been snapping up new homes near Telford with the help of a Government-backed scheme.

HomeBuy Direct offers buyers an interest-free equity loan for up to 30% of the purchase price of their new home. It’s been a lifeline to first time buyers and growing families in need of extra space who have used the scheme to invest in a home of their own at Crest Nicholson’s Lightmoor Green venture.

Partly funded by the Homes and Communities Agency and Crest Nicholson, the equity loan is interest free for the first five years.

Amanda Benjamin, area sales manager for Crest Nicholson, explained: “HomeBuy Direct has helped many buyers to step onto the property ladder and has been a real success at Lightmoor Green. We now have just one property still available under the scheme – a four-bedroom home priced from £179,950 or an initial outlay of just £125,965 for eligible purchasers with HomeBuy Direct.”

If your household income is less than £60,000, you’re a key worker or you can demonstrate that your family needs to move to a larger property but you’re being held back by financial constraints you’re likely to qualify for HomeBuy Direct.

Buyers who invest in a property through HomeBuy Direct will own their new home immediately but will only have to pay between 70% and 85% of the purchase price initially. After 12 months they can start purchasing the remaining share in installments.

“The competitive price of the properties at Lightmoor Green means they’re ideal starter homes. And with homes with two to four bedrooms there’s plenty of choice whatever your housing needs. Prices range from £139,950 for a two-bedroom property up to £209,950 for a four-bedroom family home,” Amanda commented.

Lightmoor Green is Crest Nicholson’s flagship contribution to Lightmoor Village, which is being created to the west of Telford. The new Crest Nicholson homes are in a prime position at the hub of the new village, while nearby Telford meets residents’ shopping, work and leisure needs.

See Also: Property News (5994), Lightmoor Green (2), Crest Nicholson (21), Government (15), HomeBuy Direct (62), Lightmoor Village (2), Telford (39)