Low-cost home scheme extended in Hunts

THE extension of low-cost Government scheme could open home-ownership up to thousands of would-be homebuyers, including two sites in Huntingdonshire, according to house-builder David Wilson South Midlands. The HomeBuy Direct scheme enables people to move

THE extension of low-cost Government scheme could open home-ownership up to thousands of would-be homebuyers, including two sites in Huntingdonshire, according to house-builder David Wilson South Midlands.

The HomeBuy Direct scheme enables people to move into a new home for as little as �58,096 with virtually no deposit. It was supposed to end in March, but has now been extended by a year.

The scheme gives buyers the opportunity to move in for only 70 per cent of the price, with the remaining 30 per cent covered by a loan from Barratt and the Government's Homes and Communities Agency. Because a smaller mortgage is required, monthly repayments are much more affordable.

Jackie Day, sales director at David Wilson, said: "HomeBuy Direct can dramatically reduce the initial cost of house purchase and for people who are currently out of the market for whatever reason this is an outstanding opportunity to own their own home."

HomeBuy Direct is open to a wide range of people who don't currently own their own home. Eligible households will be earning less than �60,000.

This deal is currently available at selected David Wilson developments throughout Cambridgeshire, including Cromwell Gardens in Godmanchester and Deer Park in St Neots.