Under this great scheme, qualifying buyers can secure a home with a mortgage of only 50% of the property’s purchase price – and with only a 5% deposit required on their share.
It means selected two-bedroom apartments are available for less than £92,500*, two-bedroom houses from less than £102,500* and three-bedroom houses from less than £122,500*.
Marie-Claire Travis, Regional Sales and Marketing Director for Taylor Wimpey, says:
"The First Time Buyers’ Initiative is an amazing opportunity to make home ownership a reality for those who might otherwise consider the property ladder out of reach.
"The scheme is available on a strictly limited number of homes at our brand new Birling Grange development, and properties are being snapped up fast. Anyone who thinks they may qualify for FTBI is advised to get in touch with
us as quickly as they possibly can to avoid missing out!"
FTBI is available to first-time buyers who have a household income of less than £60,000. Through Taylor Wimpey and Moat, the Government’s Homes and Communities Agency provides up to 50% of the price of selected Birling Grange homes, with nothing to pay for three years after purchase.
Following the initial three-year period, an annual fee of 1% of the funding amount is payable, rising to a maximum annual fee of 3% after five years.
Aside from these low fees, the funding amount is only repayable if the home purchased under FTBI is sold – in which case the Government would retrieve the initial percentage contribution of the achieved sale price. Full terms and conditions are available at http://www.taylorwimpey.co.uk www.taylorwimpey.co.uk.
Fast-moving FTBI customers can take their pick from a superb range of homes to suit a variety of buyer requirements.
For example, the two-bedroom ‘Woodburn’ apartment, complete with allocated parking, is ideal for couples priced £184,995 – or as little as £92,498 under FTBI. The two-bedroom ‘Montpelier’ terraced home with allocated parking is priced £204,995 (£102,498 with FTBI).
Two outstanding three-bedroom options would make great choices for families ‘ the semi-detached ‘Gunnersby’ with garage priced £244,995 (£122,498 with FTBI) and the detached ‘Brockwell’ with carport priced £274,995 (£137,498
Construction is now under way on the first phase of Birling Grange, a new community on the site of the former Leybourne Grange Hospital comprising one and two-bedroom apartments through to magnificent six-bedroom houses which will be interspersed with 150 acres of green open spaces including allotments, playing fields and children’s play areas.
In time, the development will benefit from a good selection of local amenities, including a community centre, shop, school and health centre.
There is already a good choice of primary schools, shops and pubs in the villages of West Malling and Leybourne – each less than a mile from the new homes – while a wider choice of shopping and schools can be found in nearby Aylesford.
For commuters, West Malling railway station is just over a mile from the development and operates twice-hourly services to London Victoria in an hour.
Meanwhile, Maidstone is within a 15-minute drive and quick links to the M20 put central London only an hour away by road.
* Based on 50% of purchase price. Minimum contribution from purchaser is 50%. Minimum income and eligibility criteria apply.