Keepmoat offers Yorkshire home buyers incentive to buy a new home

Published by Craig Downs for Keepmoat in Housing and also in Communities

Home buyers across Yorkshire looking to take their first steps on the property ladder have been given a timely boost by award winning house builder, Keepmoat.

The company has secured £1.4m of First Buy funding that will enable home buyers to purchase a new home at their sites in and around Yorkshire.

First Buy enables purchasers to finance 80% of the property’s asking price up front with the remaining value of the property funded by Keepmoat and the Government’s Homes and Communities Agency up to a maximum of 20%.

The Government-supported shared equity scheme is designed to help first time buyers who wanted to buy a new home but have found it difficult to get a foot onto the property ladder.  It is also available to buyers who are looking to move onto their second home but are now unable to buy without assistance.

Home buyers in Yorkshire can take advantage of the scheme at Keepmoat’s developments including Evergreen in Bentley, Yew Gardens in Edlington, Amaranthus in Sheffield, Horizon in Sheffield, Victoria Gardens in Shipley, The Hawthorns @ Amy Johnson in Hull, New Lodge Park in Barnsley, Springside at Seasons in Thurnscoe and at Larch Gardens in Kendray.  The scheme is not eligible on new build homes at The Links in Bradford.

Vanessa Burling, Keepmoat new build sales director in Yorkshire, said: “We are really pleased to have secured this extra funding which will help a lot of home buyers in Yorkshire who are looking to buy a new home.

“New build homes offer some real advantages, they are much cheaper to run than second hand homes and don’t require any DIY or alterations to be carried out as everything in them is brand new. I would encourage people to come down to one of our developments and see what is on offer.”

Households earning less than £60,000 who can’t afford to buy a suitable property on the open market without assistance are eligible to qualify for First Buy.  The process can take up to eight weeks to go through and if successful, buyers will own 100% of their property.

Mark Pender of Mortgage Bureau, Keepmoat’s nominated independent mortgage broker, confirms: “First Buy is an excellent tool for families, couples and singles looking to either get onto the property ladder for the first time or for those who have sold and are struggling to find a suitable home or do not have a sufficient deposit.

“With a minimum deposit of just 4%, it means for many potential purchasers, they can own 100% of their home, but have funded just 76% to purchase this with the remaining 20% deferred for up to 25 years.”

For more details on First Buy, please go to www.firstbuyscheme.org.uk or for more details on Keepmoat properties in Yorkshire, visit www.keepmoat.com.