With fuel prices tipping the £1.40 per litre mark,
inflation rising, the VAT increase earlier this year, and food
shortages raising the cost of a weekly shop, buying a first home is
getting further away from many people's grasp.
However, help is at hand from Phoenix Square's developer
Blueprint, in the form of a 10-year interest free loan for up to 20
per cent of the purchase price at one of Leicester's much
sought-after city centre addresses.
Blueprint's recently launched shared equity scheme means that
first time buyers, or those with no property to sell, can purchase
a selection of individually designed homes at Phoenix Square for
just 80 per cent of the market cost and they only need to find five
per cent of the deposit - subject to qualifying criteria.
So, for as little deposit as £4,825, househunters could
secure a £96,500 stylish and sustainable one bedroom
apartment with a balcony, spacious living kitchen, underground
parking and secure entry access.
Or, if the shared equity offer means that money already saved
could stretch to extra space, the two bedroom, light and spacious,
third floor apartment priced at £132,000 could be an option
for a deposit of just £5,280, for those who take advantage of
the scheme.
Peter Conboy, Blueprint's Development Director, said: "The
shared equity scheme offers a fantastic opportunity for first time
buyers to get onto the property ladder, own 100 per cent of their
home from day one and become part of Phoenix Square's thriving
community. With a 10 year, interest free loan available from
Blueprint for up to 20 per cent of the purchase price, it is one of
the best deals around and offers buyers excellent value for
money."
Phoenix Square is a unique cultural building which combines
contemporary living space, with independent cinema, a state of the
art gallery, cafe bar, workspaces and office studios to house
Leicester's growing number of creative businesses. It is the
creation of a partnership project between Blueprint and Leicester
City Council in collaboration with Phoenix and De Montfort
University and is an example of 21st century sustainable building
design, coupled with leading-edge architectural quality.
Blueprint's very own shared equity homeownership package is also
available at the developer's Green Street scheme in Nottingham - an
exclusive collection of 38 three and four bedroom low energy,
contemporary homes in The Meadows. Here, all of the new homes sold
to-date have been snapped up by owner-occupiers and around half of
the purchasers have taken advantage of the interest free equity
loans to help get them moving.