First-time Buyers Can Grab A Bargain With Linden Homes In Eastern England

Since its introduction just a few months ago, the Government's FirstBuy initiative

has proved to be a great success with first-time buyers in England and Wales. For those yearning for a home of their own, the increased demands of mortgage lenders, particularly the huge deposits many require, have made getting on the property ladder all but impossible. Linden Homes is one of the housebuilders that is now offering the scheme, which allows purchasers to buy with just a five per cent deposit.

With the housebuilder and Government (via its Homes and Communities Agency) lending the buyer up to 20% of the purchase price in the form of an equity loan, that means that only a 75% mortgage is required - which is likely to be at a much more competitive rate than the 90% or 95% mortgages that many first-time buyers might be used to. The equity loan is interest-free for five years, then charged at a low rate thereafter, and must be paid back when the property is sold. The buyer owns 100% of the property right from the start.

FirstBuy is available at a number of Linden Homes developments in the East of England, so that house hunters searching for new homes in Lincolnshire or new-build properties in the East Riding of Yorkshire have a great choice of homes available for considerably less than the market price.

de Aston Park, Market Rasen, Lincolnshire - This collection of two-, three- and four-bedroom homes is priced from 109,950 to 219,950, close to the centre of town, the race course and a renowned secondary school.

King Edgar's Court, Howden, East Yorkshire - There's a range of terraced, semi-detached and detached homes here, situated close to the centre of this busy market town, priced from 129,950 to 264,950.

Ferriby Rise, Grimsby, Lincolnshire - The remaining four-bedroom homes start at 159,950 at this development in Scartho Top, convenient for town centre, coast and countryside.

Freshney Green, Grimsby, Lincolnshire - A village feel close to the centre of town defines this mix of houses and apartments, with prices starting at just 89,950.

"FirstBuy is a fantastic scheme, not least because of the mortgage rate that is offered - which is actually cheaper that the previous HomeBuy Direct incentive," says Linden Homes marketing and connections manager Gizzy Murray. "This means that is if your attempt in qualifying was turned down last time, there is a greater chance of being accepted this time around. FirstBuy is also available on the majority of our developments, allowing more customers to benefit."

by: Keith Osborne

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