Leading Birmingham agency, FleetMilne Residential, is helping
first-time buyers get onto the property ladder through the
'HomeBuy' scheme.
Recent figures suggest that only 20% of 20- 24 year olds are
home owners, with the average age of an unassisted first-time buyer
increasing to 37 years. In an effort to help Birmingham's
first-time buyers get onto the property ladder, FleetMilne is
offering six properties at the luxury Brindley House development
under the Government-led First Time Buyers' Initiative.
The scheme, which is delivered as part of "HomeBuy" by the Homes
and Communities Agency (HCA), aims to make homes more affordable to
first-time buyers who currently may be priced out of the housing
market.
Qualifying buyers take out a first mortgage against the
property, with the mortgage and deposit making up a minimum of 50%
of the property's price. The Government then funds the remaining
amount. Repayments on the Government contribution are interest free
for the first three years, making the scheme ideal for Graduates,
those just starting in the workplace and first-time buyers of any
age.
Nicola Fleet-Milne, Managing Director at FleetMilne, comments:
"It can be extremely difficult for first-time buyers to get on the
property ladder. This scheme not only provides them with the chance
to buy a property, but it also allows them to buy a contemporary
new-build in a desirable location. It's a fantastic offer which is
not to be missed as it is only available for a limited period."
The units at Brindley House are available at a starting price of
£120,000.