First time buyers have always had a tough time when it comes to getting a foot on the ladder, but the credit crisis has led to tighter lending restrictions and a requirement for larger deposits. Tackling the problem in Greater Manchester, Countryside Properties is introducing HomeBuy Direct; a new government backed scheme that will enable struggling buyers to own a home for just 70 per cent of its price .
Homebuy Direct is now being offered at The Vibe , a 152 apartment building at Countryside Properties’ landmark regeneration scheme, New Broughton in Salford. A limited number of properties are now available to buy through the scheme at New Broughton and Countryside Properties is urging those interested to act quickly.
The prices are based upon a 70 per cent share of the property; the purchaser must contribute their share through their own mortgage and the remaining 30 per cent will then be funded by way of an equity loan, which is joint funded by the Government and by Countryside Properties. There will be no rent to pay for the equity loan on the first five years*.
The scheme will be open to people with a household income of up to £60,000, who could not otherwise afford to buy a suitable property on the open market in the area where they live or work. It is a fantastic opportunity to get onto the property ladder and buy into a development that has proven particularly popular from the outset.
Set within 180 acres of prime land, New Broughton is situated on the eastern side of Salford. It is being developed in conjunction with Salford City Council, Contour Housing Group and the local community. Located on Broughton Lane off Great Clowes Street, The Vibe is conveniently situated less than a mile from Manchester city centre’s shops, bars and restaurants and offers residents modern living at an affordable price tag.
To find out more information please call 0161 872 6447 or visit www.newbroughtonliving.com