Shared equity scheme 'gives buyers confidence'

Affordable homes are selling fast in one West Midlands town, according to one developer there.

Persimmon Homes reports that houses available under the government-backed HomeBuy Direct scheme in Darlaston have attracted a great deal of interest from potential purchasers.

HomeBuy Direct aims to make housing affordable for households on an income of less than £60,000 by part-funding their purchase with a 30 per cent equity loan, which is interest-free for five years.

Louise Brookes, sales adviser at Persimmon Homes, says The Keep development in Darlaston is so popular because it offers househunters easy access to local urban areas.

"Wolverhampton can be reached in around 15 minutes, Birmingham in less than an hour, there's quick and easy access to the Black Country Route and the regions' road and motorway network," she commented.

Latest figures from the Royal Institution of Chartered Surveyors show that more and more people are deciding that now is the time to move home, with new enquiries in April rising for the sixth consecutive month.

Source: Direct News 24/5/09