Government’s FirstBuy scheme could help homebuyers in Oakham

The Government's FirstBuy scheme, which was introduced earlier this year, is providing more first-time buyers with the opportunity to finally get a foot on the housing ladder by taking up a five-year interest-free loan to buy a new home.

Some housebuilders and FirstBuy can generally help homebuyers lower the amount they need for a deposit and, if they are eligible first-time buyers, this could lead to a more affordable mortgage.

In fact, purchasing a home with the help of the government's FirstBuy scheme could be cheaper than renting a property according to Larkfleet Homes.

The new homes developer is offering a number of FirstBuy properties in phase 1 of the Group's Oakham North development, a major expansion of Oakham for which development company Hawksmead, part of the Larkfleet Group, has already secured outline consent.

Hawksmead was recently granted planning approval for 143 new homes as part of the Oakham North development. In total, 1,100 new homes could eventually be constructed over 15 years in ten phases.

The planning approval for Oakham North, a sustainable urban extension, also includes a continuing care retirement community, a care home, around 30 acres of offices as well as parks and open spaces, children's play areas and a new local centre. Planning approval also includes improved transport links with new cycle, footpath and bus routes.

Rutland County Council also recently voted to approve outline planning permission for a hotel and detailed planning permission for an adjoining 180-cover Marston's Inns and Taverns pub restaurant on the site.

The Oakham North development is located on land between the Oakham bypass and Barleythorpe Road in Oakham, Rutland.