First Time Buyers Need to Act Now!

By Sue Warwick National Sales and Marketing Director of Miller Homes.

We are entering into the final phase of the Governments HomeBuy Direct scheme which means that time is running out for first time buyers to take advantage of a fantastic opportunity to take their first steps onto the housing ladder.

We are currently helping more than 450 first time buyers and renters make the move into their own home but there is concern that time is now running out as properties are in short supply for those who are considering the scheme and the stamp duty holiday is due to end on 31st December. As a result on selected plots we will pay the stamp duty on reservations taken in November for completion by the end of January 2010 giving a whole month’s extension.

We have a fantastic record when it comes to Home Buy Direct completions and reservations.  We already have 70% of our Home Buy Direct allocation sold. We have enormous experience of guiding homebuyers through the Home Buy Direct process but properties eligible for Home Buy Direct funding are increasingly popular and all purchases must be completed by the end of March 2010.

But Home buyers have to be aware that like any house purchase the process does take time and they will need to start the buying process soon in order to complete before the March deadline.

Home Buy Direct is a shared equity scheme designed to help first-time buyers renters and those living at home move into affordable home ownership. The scheme is offered on specific new build properties brought forward by developers with buyers offered an equity loan of up to 30 per cent of the purchase price co-funded by Government and the developer.  Any household earning £60000 or less who could not afford to buy a suitable property on the open market could be eligible for the scheme.  I urge anyone considering buying their first home to act now and contact us at Miller Homes to find out if they qualifiy so they don’t miss out on the fantastic opportunities that have been made by the Government to help make those precious first steps into home ownership.