A helping hand for first time buyers in Mickleover

Aug. 24, 2011 - PRLog -- With the First Buy scheme*, available at V@Varsity, off Western Road, purchasers are required to raise just 80 per cent of the price of the home, made up from a deposit and mortgage. The remaining 20 per cent is jointly provided by the Government and Peveril Homes as an equity loan, which is interest free for the first five years. To qualify, you have to be a first time buyer and, as a household, earn less than £60,000 a year – it’s as simple as that.  

At V@Varsity, the incentive is available on the Bronte, a 2 bedroom, semi-detached property*. Currently, for example, if purchasers were to buy the Bronte house type, priced from £149,950, they would have to pay just £119,960**.

Angela Thomas, sales and marketing manager at Peveril Homes, said: “The struggle that many first time buyers have to raise a deposit and secure a mortgage has been well documented. We’re keen to help our purchasers the best we can, so the fact that we can offer the FirstBuy scheme, should ease the burden of buying.

“However, house hunters should note, the availability on our new homes in Mickleover is limited, so I would enquire about the incentive as a matter of priority to avoid disappointment.”

V@Varsity is a selection of traditional 2, 3 and 4 bedroom homes, suitable for a host of buyers, and is already proving popular.

In terms of location you couldn’t be better placed. Derby’s bustling city centre is only minutes away and provides an excellent range of shops, eateries and a selection of primary and secondary education. The Royal Derby Hospital is within walking distance, while commuters will find the nearby A38 useful.

To find out more about FirstBuy and the new homes in Mickleover, visit the sales office and show home, open Thursdays to Mondays, 11am to 5pm, call: 01332 510249. Alternatively, log onto peverilhomes.co.uk.

*Available on selected plots only, subject to terms and conditions.

**Price shown is the 80% FirstBuy value. Available on selected plots only, subject to FirstBuy terms and conditions. FirstBuy cannot be used in conjunction with any other offer. Mortgage application will be subject to status. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Prices correct at time of issuing.

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