Families on the lookout for an affordable home in Northamptonshire may find that a shared equity scheme means they can purchase a three-bedroom home for less than they think.

David Wilson Homes is offering the HomeBuy Direct initiative on properties in its Arena Gate development in Dunston, under which purchasers can buy a three-bedroom Edgar house for just £135,096.

Jackie Day, sales advisor at David Wilson, said families who are currently renting a home may find that buying actually works out cheaper.

"HomeBuy Direct was introduced as a way of combating affordability issues and it is proving a welcome lifeline to purchasers concerned about living beyond their means during the current economic climate," she commented.

Under the shared equity scheme, buyers receive an equity loan of 30 per cent to help them buy, on which no interest is payable for the first five years.

David Wilson Homes also offers a Part Exchange scheme on selected properties, which ensures a guaranteed buyer for the purchaser's home.

Source: 1/09/09