Charles Church is first to sign up for Homes & Communities Agency FirstBuy 2 scheme
29 January 2013
Charles Church, along with sister company Persimmon Homes will be the first housebuilders in England to offer prospective home buyers access to the Government’s FirstBuy 2 scheme after signing up with the Homes & Communities Agency.In total 281 of the group’s Persimmon and Charles Church developments will offer the scheme, with a possibility of further sites being added at a later date. Home buyers can reserve their new home using the scheme from this week for legal completions from April 1, 2013 to March 31, 2014.
FirstBuy is designed to help first time buyers into home ownership in a way they can afford. In the first round of funding, thousands of people were helped onto the property ladder and in this second round, a further £280 million is being invested by the Government.
Charles Church is delighted to be the first housebuilder to offer the new scheme in England. The company’s group operations director, David Thornton said: “FirstBuy support is offered through equity loan funding of up to 20 per cent of the purchase price split equally between the Homes & Communities Agency and us, the housebuilder.
“The first time buyer has to raise funding through a mortgage plus deposit of 80 per cent of the purchase price. This is a huge help for people trying to get their first foot on the property ladder and we’re pleased to be able to work with the Government to support the scheme.
“FirstBuy, along with NewBuy and now NewBuy Part Exchange which was launched last week are all helping to get people moving. Visitor numbers to our developments have seen a significant rise in recent weeks and we’re positive that our FirstBuy announcement will see numbers rise even further.”