Developer Ben Bailey Homes has joined forces with the Government to offer first time buyers the opportunity to own their home with a deposit of as little as four per cent at its popular The Grange development in the historic market town of Caistor.
Called FirstBuy, the scheme sees Ben Bailey Homes offer potential homebuyers a five-year interest free loan of up to 20 percent of the purchase price of the property that they would like to buy. This means first time buyers can then take out a 76 percent mortgage, with just a four percent deposit, and be in a position to own their home immediately.
Available only on selected plots, the FirstBuy scheme means a three-bedroomdetachedhome can be purchased at The Grange for as little as £138,000.
Nova Eames, Ben Bailey Homes’ area sales manager said: “We’re very pleased to announce that FirstBuy is available at The Grange. It’s a real boost for first-time buyers and will help address the affordability issues they often encounter when buying their first home.
“Deposits can often be a stumbling block, but with FirstBuy these can be as low as four per cent of the initial purchase price. And with a five-year interest free equity loan of 20 per cent of the purchase price, first time buyers can also benefit from lower monthly repayments.”
The Grange comprises a thoughtful mix of 99 stylish two-, three- and four-bedroom homes. Situated in the heart of the Caistor, a Georgian market town, it offers a wide selection of amenities including local shops, traditional pubs and a market square.
One of the properties available at The Grange under FirstBuy is the Hambleton, a spacious three-bedroom, detached property with aseparate garage. Priced at £172,500, but available under FirstBuy for £138,000, the Hambleton is anideal first home. The property’s ground floor features a formal lounge, open plan kitchen and breakfast room, a dining room and a cloakroom. On the first floor themaster bedroom benefits from an ensuite, there are two further good-sized bedrooms and a family bathroom.
The Grange is ideally located less than half a mile away from the town centre of Caistor and on the edge of the picturesque countryside of Lincolnshire Wolds. There is an excellent road network with the A46 providing easy access to the town of Grimsby which is just 12.5 miles away.
To find out more about The Grange and the FirstBuy initiative, call the marketing suite on 08442 578 608, opendaily between 11am and 5pm. More information about The Grange and Ben Bailey Homes is also available at www.benbaileyhomes.com/developments/grange