Pictured above: Laura McIlwraith and Paul Crockett,
with daughter Kyrah, in their Wesley-style townhouse at The Vales
development in Bingham
Fed up with trying to find thousands of pounds to put down as a
deposit on a house, Laura McIlwraith and Paul Crockett were looking
for a way they could fund a move into a property they could call
their own.
With a seven-year-old daughter, Kyrah, and a baby on the way,
Laura, a 29-year-old personal assistant, and Paul, a 30-year-old
postman, wanted to move out of their rented terraced house in
Bingham.
That's when they discovered that HomeBuy Direct (HBD) was
available on selected properties at The Vales, a superb development
in Bingham from award-winning Miller Homes East Midlands.
And now, the family has moved into a three-bedroomed
Wesley-style townhouse, a property well-known for its clever use of
space and a thoughtful approach to function and style.
Laura commented: "Without HBD, we would not have been able to
afford to move. HBD gave us the chance to buy a new,
three-bedroomed townhouse with enough space for Kyrah and the baby
when he or she arrives.
"Lenders aren't giving 100 per cent mortgages any more, and we
couldn't find a deposit for about £15,000 on a property.
That's why HBD has been brilliant for us."
The HBD scheme means that those who qualify have the opportunity
to purchase 100 per cent of a property by paying only 70 per cent
of the value, with both Miller Homes and the Government equally
funding the remaining 30 per cent.
The 30 per cent equity loan will only become repayable after 25
years or when the customer sells their home, whichever comes first,
and there is no interest payable for the first five years.
Innovative schemes like HBD have proved to be invaluable ways of
helping people get on the property ladder, says Joy Goodman, sales
director for Miller Homes East Midlands.
"People are beginning to realise that they can afford spacious
new homes thanks to schemes like HBD, which make it easy for them
to move," said Joy.
"The Vales has proved to be a highly-popular development,
particularly as it is ideal for commuting to various locations and
because it offers the chance to enjoy village life."