Help for first-time buyers from Persimmon Homes South East
business editor Trevor Sturgess
Persimmon Homes South East, which recently bought Kent-based
Hillreed, is the first housebuilder in the region to offer
first-time buyers a chance to tap into a £280million government
The company has signed up with the Homes and Communities
Agency to give prospective purchasers access to the FirstBuy 2
Three Hillreed developments offering the scheme include Cathcart
Gate at Kings Hill, West Malling; Iwade Meadows, Iwade; and
Knoll Lane, Ashford.
They are among 281 Persimmon and Charles Church developments
- 14 across the south east - which are offering FirstBuy 2.
Home buyers can reserve their new home using the scheme for
legal completions between April 1 and March 31, 2014.
FirstBuy offers first time buyers an affordable way into home
ownership. In the first round of funding, thousands of people were
helped onto the property ladder. In this second round, a further
£280 million is available.
Darren Jones, managing director of Persimmon Homes South East
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% 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
Mr Jones expects the scheme, along with NewBuy and NewBuy Part
Exchange, to help 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
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