The government-backed assistance scheme HomeBuy Direct is
proving to be a big hit for professionals who are looking to stop
renting and to start enjoying all the benefits of homeownership,
according to Crest Nicholson - the force behind the award winning
Park Central development in Birmingham city centre.
Bordered by Bath Row and Lee Bank Middleway, Park Central has
become established as a popular new homes scheme in the heart of
Birmingham, particularly among today's first time buyers. At Park
Central, Crest is providing purchasers with a wide choice of
contemporary one and two bedroom apartments, with prices currently
starting from a highly competitive £85,000 - or from just
£59,500 using HomeBuy Direct.
Civil servant, Ricky Dawson, purchased a one bedroom apartment
at Park Central. As Ricky explained, he took advantage of HomeBuy
to get onto the property ladder. He said: "I was renting an
apartment in Birmingham city centre when I started looking into
buying a new home of my own. Renting just didn't make financial
sense to me - it was clear that my rental payments were just dead
money, and when I looked into HomeBuy Direct at Park Central I
realised my monthly mortgage repayments would actually be lower
than what I was paying in rent."
Pictured above: Ricky Dawson enjoying the park at Park
Central
As Ricky explained, several other factors were key to his
decision to move to Park Central. He added: "A good city centre
location was an important consideration for me. From Park Central,
I can walk to work at Five Ways, and I'm just minutes away from The
Mailbox, Broad Street and the rest of the city centre. Birmingham
is a great city for shopping and socialising, and I'll be saving so
much money on transport that I'll be able to really enjoy the city
centre lifestyle.
"I'm also looking forward to using the parkland at Park Central
for jogging, which will save me money on gym fees. I was really
taken by the park and I purchased a park facing apartment so I
could enjoy a good view from my home. It is such a serene place to
live that you can easily forget you're living in the city
centre."
First time buyers with a household income of less than
£60,000 could be eligible for HomeBuy Direct. The assistance
scheme sees the government and housebuilder cover up to 15 per cent
each or 30 per cent in total of the property price with a loan.
This then leaves the buyer with a more affordable mortgage for the
remaining 70 per cent and therefore reduces the amount needed for a
deposit.
Jo Parker, sales manager for Crest Nicholson at Park Central,
said: "We see many first time buyers at Park Central who have
become increasingly frustrated with renting and really want to get
on the property ladder. With a combination of competitively low
prices and the availability of assistance schemes such as HomeBuy
Direct, we can help purchasers to own their very own apartment here
at Park Central. And with the possibility of actually making a
saving when comparing monthly mortgage repayments to rental
payments, first time buyers can live their new city centre
lifestyle to the full."
HomeBuy Direct is available on selected apartments at Park
Central. Each apartment at the development is built to a quality
internal specification. Individually-designed kitchens come
complete with stainless steel oven, hob and extractor, and
integrated appliances. Contemporary bathrooms feature Hansgrohe
mixer taps and stylish Porcelanosa tiling, along with Kaldewai
enamelled steel baths and chrome towel rails.