Last HomeBuy Direct funding making new homes in Chorley more affordable

Redrow is urging house hunters hoping to secure affordable new homes in Lancashire to act quickly to pick up one of the new apartments and houses for sale at Cedar Walk near Chorley, which are still available with the Government-backed HomeBuy Direct initiative, before the first-time buyer's Stamp Duty holiday is lifted at the end of March 2012. An initial outlay of just £59,500 will secure a two-bedroom home at the development thanks to a 30% equity loan provided jointly by Redrow and the Homes and Communities Agency.

"Buying a home is a big commitment, particularly if it's your first, and we want to make things as easy as possible for our customers," says Lesley Myers, area sales manager for Redrow Homes (Lancashire). "Our friendly, experienced sales team and HomeBuy Agent will guide purchasers through the homebuying process, so that setting up homes is a pleasure rather than a chore. And because we understand the importance of viewing a property before buying, we're opening a new show apartment so that potential purchasers can appreciate the layout and quality finish we offer as standard."

She adds: "Those who want to snap up one of our stylish, affordable apartments must hurry, as HomeBuy Direct funding is limited and they must complete the purchase of their new home by the end of March."

With the scheme, an £85,000, two-bedroom apartment can be purchased with a deposit of only £2,975 and a mortgage of £56,525. The balancing loan is interest free for the first five years, and is repayable after 25 years, or when the property is sold, whichever is sooner. The properties come with a high standard specification and, as a current special offer, carpets included in the price. Cedar Walk is open from Thursday to Monday, 10.00am to 5.30pm.

"The apartments at Cedar Walk offer a fantastic opportunity for those starting out in life to make that crucial first step onto the property ladder," continues Lesley. "Thanks to HomeBuy Direct, the competitive prices are reduced even further so that the mortgage repayments compare favourably to rental values and may even work out cheaper."

First-time buyers still have an opportunity to purchase a new home for as little as 70% of the price up-front with funding from the HomeBuy Direct scheme at Cedar Walk near Chorley