Property related photograph
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    More details about: Porlock Road, Southampton, Hants

    | Porlock Road, Southampton, Hants

    For Sale 3 bedroom house
    Property value £150,000
    Share percent 50%
    Share percent price £75,000

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HomeBuy Direct success in Citigait, Portsmouth

HomeBuy Direct success in Citigait, Portsmouth

Amanda, a quantity surveyor, and her partner Leon, a painter decorator, were keen to get on the property ladder, especially as they had noticed the recent fall in property prices.

Living in Eastleigh but both working in the Portsmouth area, they were keen to reduce the daily commute so started looking into properties in Portsmouth.

“We were privately renting a small flat but wanted to start putting our hard-earned money into a place we could say was ours,” says Amanda. “That’s when we came across the HomeBuy Direct scheme on the Barratt Homes website.”

The scheme enables first time buyers to purchase a brand new property on participating developments for 70% of the full market value. The remaining 30% is then funded jointly by the local developer and the government in the form of an equity loan. For the first 5 years, no interest is charged on the equity loan, with 1.75% being charged in year 6. For further details on the scheme, check with your local HomeBuy Agent.

Because the scheme requires very little, or possibly no deposit (depending on your mortgage lender), it seemed perfect for them.

Amanda and Leon were thrilled to learn that HomeBuy Direct was being offered on the new development in the heart of Portsmouth, Citi Gait.

They registered with HomesinHants, the HomeBuy Agent for Hampshire and the Isle of Wight, and went along to the development to view the available properties. The couple were shown the available apartments and got to choose the plot they liked the most.

“We now have a modern, 2 bedroom apartment, with great views overlooking the Spinnaker Tower”, says Leon, “We even have a large en-suite to our master bedroom”.

“When we first started looking into buying a home together, the banks were after large deposits if we were to buy on the open market,” says Amanda. “We now pay less than what we were paying when privately renting! Without the help of the HomeBuy Direct scheme, we would have only been able to dream about owning our own place”.

If you are interested in the prospect of being able to buy a house or flat of your own, call 023 8062 8004 or apply online via this website (www.homesinhants.co.uk). Alternatively visit the HomeBuy Schemes Page to find out more about the schemes available.

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