A RUGBY estate agent is urging first-time buyers who believe they cannot afford a home to consider the Government’s FirstBuy scheme.
The mortgage services consultant at Shipways will be able to inform you about all aspects of the scheme.
Available only on new-build properties, FirstBuy enables buyers to purchase a home with just five per cent of the property’s value as a deposit.
A further 20 per cent of the purchase is funded as an equity loan from the Government and the house builder, requiring the buyer to take a mortgage of 75 per cent to complete the transaction.
According to the branch, a recent Rightmove survey found that more than a third of potential first-time buyers have never heard of FirstBuy, and of those that have 22 per cent do not understand that the scheme can help them make their first home purchase.
With this in mind, Shipways is offering appointments for first-time buyers to provide advice on the FirstBuy scheme, how it works and their mortgage requirements.
Jonathon Wright, mortgage services consultant for Shipways, said: “Many first-time buyers dismiss the idea of seeking advice on buying their first home, mainly because they believe it is totally out of reach without a large deposit.
“FirstBuy requires buyers to raise just five per cent as a deposit so if you’ve been struggling to put aside funds for a larger deposit, it is worth getting advice on whether the scheme could help you onto the property ladder sooner.”
Shipways can help first-time buyers establish whether they would qualify for FirstBuy but they need to act quickly as funding is limited.
Jonathon said: “Nationwide, FirstBuy is only available to the first 10,500 purchases on new- build homes so anyone who is interested should make an appointment as soon as possible to avoid disappointment.”
If you are interested in buying your first home and would like to find out whether you are eligible for FirstBuy, please contact the branch on (01788) 574641 or email firstname.lastname@example.org