Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
Affordable homes for everyone
Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
Builders could be at work creating some 22,000 new affordable homes within weeks, according to the House Builder's Federation (HBF).
The government announced this month that 270 house building projects have been shortlisted to receive a share of £925 million of funding designed to kick-start developments that have stalled.
As well as creating more affordable homes for the UK, the extra cash is hoped to create 20,000 jobs within the construction industry.
Steve Turner, head of communications at the HBF, said the money is very welcome although it remains to be seen how quickly it can be processed so that it can filter through.
"There are enough sites out there to meet the criteria so it is a very positive step and the criteria is aimed at getting sites started as quickly as possible," he commented.
Some £1.2 billion has been planned for investment in housing this year by the government, including £500 million to support construction in local communities.
A shared equity scheme has helped one West Midlands woman to move out of her parents' house and into an affordable home of her own.
Sarah Meredith, 29, had been saving to put together a deposit in the hope of one day owning her own property, but the economic climate seemed determined to put a damper on her plans.
Finally, Sarah discovered the apartments at Miller Homes' B91 development in Solihull, which are available under the recently-launched government shared equity scheme HomeBuy Direct.
"The need to pull together a large deposit disappeared and I was able to move into my own home much sooner than I thought possible," she commented.
Sarah is just one of a number of people who have been helped by the scheme, which makes properties affordable by providing a 30 per cent equity loan towards the purchasing price which is interest-free for the first five years.
A shared equity initiative has helped a Lancashire couple to move into an affordable home in Darwen.
Dylan Avery and his partner Nicola are now the proud owners of a new house on Miller Homes' Woodland Park development in the town, thanks to HomeBuy Direct.
Mr Avery said the couple were struggling to find an affordable home as they were having difficulty finding a large enough deposit, until they heard about the shared equity scheme.
"Nicola saw an advert in the local paper offering the chance to buy a new home through the Homebuy Direct scheme. So we just had to find out more," he commented.
The scheme works by giving eligible buyers the opportunity to purchase 100 per cent of their home by paying 70 per cent of the value now, with the developer and the government equally funding the remaining 30 per cent.
Dedicated HomeBuy Agents have also been appointed by the government to help the shared equity initiative get off the ground.
Source: Direct News 23/07/09
Hundreds of people searching for affordable homes across the country have been able to move into a brand new property thanks to Persimmon's government-supported shared equity scheme.
Since HomeBuy Direct was introduced, 272 properties have already been reserved throughout the UK, resulting in 60 exchanges and 54 completed sales so far.
Persimmon reports that the scheme has been particularly popular in the south west of the country, along the M5 corridor from Birmingham to Plymouth.
David Bryant, group development director at Persimmon, said buyers can now take advantage of a shared equity initiative that has the full support and backing of the government.
"With schemes as good as this coming onto the market, I firmly
believe that this is undoubtedly the best time to buy property," he commented.
April's Budget announcement contained an £80 million investment in HomeBuy Direct, helping even more first-time buyers to find an affordable home.
Source: Direct News 21/07/09
Developer Barratt is lending its support to this year's Eastbourne Airshow by donating £8,000 towards the event, as well as giving away a selection of prizes.
The house builder will also be holding a first-time buyer day at its new H20 apartment development just a few minutes away from the show, where househunters can visit to learn more about how they can find an affordable home.
As well as viewing the apartments, there will be the chance to speak to Barratt's sales team about shared equity schemes such as HomeBuy Direct, as well as an independent financial advisor to assist with mortgage queries.
Potential buyers will also be entered into a free prize draw to have a chance of winning a helicopter ride for two at Airborne.
Government plans to provide new sustainable and affordable homes in the UK have been given the thumbs-up by the Homes and Communities Agency (HCA).
Housing minister John Healey has announced the locations for four new EcoTowns, as well as early results of the consultation on the definition of zero carbon and the first list of successful bids for low carbon infrastructure funding.
The four EcoTown sites are in Hampshire, Oxfordshire, Greater Norwich and St Austell.
Robert Napier, chairman of the HCA, said the announcement is good news for the government's efforts to tackle housing need and climate change.
"I personally hope that local residents will embrace these new settlements as an environmentally sustainable way of providing new and affordable homes for local people who need somewhere decent to live," he commented.