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Scheme boost to buyers
Greenhouse in Leeds.
FIRST-TIME home hunters are getting the chance to buy into a low carbon residential development in Leeds thanks to a government initiative.
The Government’s FirstBuy scheme offers a loan of 20 per cent of a property price so that buyers only need to put down a five per cent deposit to qualify for a 75 per cent mortgage, offering first-timers a chance to enter the market. The 20 per cent is paid back when the property is sold, based on 20 per cent of the selling price, and no interest is payable for five years, after which it is nominal.
The scheme is available at the Greenhouse development after developer Citu was granted funding as a FirstBuy partner. Citu has been awarded funding for 20 apartments, covering a selection of one, two and three bed homes.
Richard Golden, sales manager at Citu, said: “We are very excited by this scheme, not only because it shows the Government being proactive to help first-time buyers get on the property ladder but because of what this in turn means for Greenhouse.
“What we are working to build at Greenhouse is a true community, and so much of this depends on the people living there.
“This scheme opens the doors to people from the local community who might not have otherwise considered a move to Greenhouse, but with this support it can now become an option.
“We look forward to inviting many more local residents to join us in the coming months and are expecting the apartments available under the FirstBuy to be snapped up very quickly.”
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Saturday 26 May 2012
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