FirstBuy scheme hailed success in Bracknell
26 November 2012
First time buyers in Bracknell are making full use of the Government-backed scheme FirstBuy scheme, according to premium house builder, Charles Church.Already 20, two and three bedroom properties sold at the exclusive Dukes Place, on Jennetts Park in Bracknell have been purchased by first time buyers who were helped by the FirstBuy mortgage guarantee scheme.
Charles Church is now hoping further schemes, including NewBuy, will help couples and families get on and move up the property ladder, thus driving movement in the market.
Tracey Lee, sales director of Charles Church Southern, is a fan of the FirstBuy and NewBuy schemes, as she believes it is helping to provide stimulus to the housing market.
She said: “The housing market has previously been held back because buyers have been unable to raise the 20 to 25 per cent deposit that lenders once required.
“The FirstBuy scheme is giving a much needed shot in the arm for first time buyers and the whole housing sector.
“This scheme enables an eligible buyer to purchase a brand new property, funded by an affordable mortgage and with assistance from a Homebuy Agency and Charles Church.
“With an enviable postcode of RG12, Jennett’s Park is a vibrant community in the making, benefiting from all of the necessities required for everyday living, including a primary school, pub, and proposals for local shops and a health centre.
“Couples and families now have the opportunity to buy a new home with the assistance of an equity loan. The value of the loan is a maximum of 20 per cent of the full price of the property the maximum full purchase price is set at £280,000.
“For the first five years, the FirstBuy equity loan will be interest free.”Dukes Place, offers a wide range of options for first time buyers, in particular the two bedroom properties, starting from £196,950 under the FirstBuy scheme.