Persimmon Open Day This Weekend

If you’d like to move a step closer to your perfect home, why not visit our open house this weekend and see how spacious, luxurious and comfortable your new home could be?

As well as having the chance to see what your new home will look like, you’ll be able to find out more about our new allocation of HomeBuy Direct shared equity available.

You’ll also be able to get all the help and support you need to make buying, selling and moving simple. Now that’s Persimmon Perfect.

OPEN HOUSE WEEKEND - SATURDAY 30TH & SUNDAY 31ST JANUARY
FROM 10AM.

NEW RELEASE OF HOMEBUY DIRECT AVAILABLE

Call Michael Tuck New Homes on 01452 726443 to register your interest.

PERSIMMON CONTINUES TO OFFER SUCCESSFUL HOMEBUY DIRECT SCHEME

The team at Persimmon Homes South Midlands are celebrating as the company has a received further allocation of properties under the Government-led HomeBuy Direct scheme at its The Marketplace development in Gloucester.

The initiative, which allows first time buyers and key workers to own 100 per cent of their home after initially paying for just 70 per cent of the asking price, has been a great success in Gloucester, as it has enabled a greater number of youngsters starting out on the property ladder to buy their first home.

Alison Reading, sales director for Persimmon Homes: “The HomeBuy Direct scheme is a real positive step, helping to restore the growing confidence and stability in the property market by giving customers who may have limited funding a real opportunity to purchase their own a new home.”

The scheme aims to assist households with a combined income below £60,000 and who may not have adequate funds for a significant deposit. House buyers are only required to secure funding for 70 per cent of the purchase price, including a mortgage and a small deposit. The remaining 30 per cent is made up by an interest and repayment free loan for the first five years, which is co-funded by the Government and Persimmon Homes.

The Marketplace offers a selection of two, three and four bedroom properties, with prices starting from as little as £135,995 for the two bedroom coach house design. Through HomeBuy Direct prices at the development start from £135,797 for the three bedroom mid terraced Denbigh design.

The Marketplace is located off St Oswald’s Road, just a short walk from the centre of Gloucester. When complete the development will feature a total of 450 properties, ranging from one and two bedroom apartments to two, three and four bedroom homes, available in a variety of styles, from townhouses to traditional family homes.
As well as excellent new housing, residents of The Marketplace can enjoy a whole host of superb local facilities from a large retail and leisure complex to an improved infrastructure network and the vicinity of city centre bars and restaurants.

Further information on the HomeBuy Direct scheme can be found at www.michaeltuck.co.uk For further information about the range of properties available at The Marketplace, please contact Michael Tuck New Homes on 01452 726443

“Our latest 70 per cent shared equity HomeBuy Direct event in Gloucester was a fantastic success,” reports Alison Reading, sales director for Persimmon Homes South Midlands. She adds: “We received more interest in our new homes through the scheme than ever before and achieved a number of sales across our two remaining Gloucester sites, with 13 sales across the two developments in the last month alone.”

At the event, which was hosted at Persimmon’s The Marketplace development in Gloucester, several eager first time buyers, from young professionals, couples and families visited the site, with the prospect of finally getting a foothold on the property ladder.

On the day sales advisers from Persimmon’s sites, The Marketplace and Kingsway, were on hand to speak to househunters and were joined by a representative agent from HomeBuy Direct and an independent financial adviser who were both available to discuss individual’s purchasing options.

Alison continues: “We are delighted that Home Buy Direct is proving successful and it demonstrates that initiatives such as this coming onto the market, is helping hundreds of young people or those that have been renting, to make that first move. We can see through our increasing visitors to our developments that demand for new homes remains strong and we are confident that our customers see this as a good time to buy.

“Demonstrating that HomeBuy Direct is so popular in the Gloucester and overall South Midlands area, we have achieved the second highest number of sales through the scheme among the 24 regional Persimmon Homes companies.”

Sir Bob Kerslake, chief executive of The Homes and Communities Agency which is investing £400m to HomeBuy Direct through designated agents and developers such as Persimmon, adds: “HomeBuy Direct is about giving local people the opportunity to get a foot on the property ladder in a way they can afford now and into the future.”

Further information on the HomeBuy Direct scheme can be found at http://www.youtube.com/watch?v=DYdOsn8UoZo


HomeBuy Direct is available at a selection of Persimmon’s most popular developments, including Kingsway and The Marketplace in Gloucester. To find out more about how the scheme can work for you, contact Michael Tuck New Homes 01452 726443. Alternatively visit Michael Tuck online at www.michaeltuck.co.uk

HOMEBUY DIRECT GETS HUNDREDS OF BUYERS MOVING

Hundreds of househunters across the country who until recently have been priced out of the housing market have been able to buy a brand new home thanks to properties made available under Persimmon’s Government-supported, HomeBuy Direct scheme, which is why Persimmon Homes South Midlands is choosing to host a second event in Gloucester dedicated to the initiative.

Alison Reading, sales director for Persimmon Homes South Midlands comments: “Househunters who visit our Gloucester developments, Kingsway, The Marketplace and The Maples, have not only been impressed with the homes on offer, but also the fact that we’re able to support them with moving onto the property ladder with an affordable price.

“It’s for this reason that we’re launching our second HomeBuy Direct weekend, which will take place at The Marketplace on 5th September from 11am to 5pm, to give further would-be homebuyers the chance to speak to a variety of experts including our sales advisers, a mortgage adviser and a HomeBuy Direct agent.”

Just weeks since the scheme was introduced, a staggering 272 properties have already been reserved across the country, and in the South Midlands region alone, the company has received 75 reservations in connection with the scheme.

Alison adds: “Our previous HomeBuy Direct weekend, hosted across our Gloucester sites was one of the most successful in the Persimmon Group, as we saw a total of five sales at our developments in the city.”

Alison concludes: “HomeBuy Direct is spectacular because being offered the chance to only have to pay 70 per cent of the price, plus having an interest free loan for five years, is a fantastic offer to young couples and first time buyers who, until now, have been priced out of the market.

“With schemes as good as this coming onto the market, I firmly believe that this is undoubtedly the best time to buy property. I’m delighted that we have already been able to help hundreds of young buyers, re-entrants and those who have been renting to own their own home and I am confident, with our help, many more house buyers will be able to make the move this year.”

Further information on the HomeBuy Direct scheme can be found at http://michaeltucknews.blogspot.com/2009/06/home-buy-direct.html

HomeBuy Direct is available at a selection of Persimmon’s most popular developments, including Kingsway, The Maples and The Marketplace in Gloucester. To find out more about how the scheme can work for you, contact the sales team on 01452 726443.

HomeBuy Direct is a Government scheme designed to help house buyers who are priced out of the housing market in their local area buy a brand new home in a much more affordable way. Persimmon has the largest developers’ allocation of HomeBuy Direct with around 2,700 homes at 194 developments throughout all parts of England.

The scheme is aimed to put households with incomes below £60,000 and who may not have adequate funds for a significant deposit in a position where they can afford to purchase a new build home on the open market. House buyers are only required to raise funding for 70 per cent of the purchase price, including a mortgage. The remaining 30 per cent is made up by a 25 year loan, interest free for first five years, which is co-funded by the Government and Persimmon Homes.

Home Buy Direct

What is HomeBuy Direct?

HomeBuy Direct is a new shared equity scheme designed to help up to 18,000 First-Time Buyers into affordable home ownership. The scheme will also help participating house builders by enabling more First-Time Buyers to purchase their newly built properties. The scheme has been allocated £400m of Communities and Local Government funding.

The scheme will be offered on specific new build properties brought forward by developers. Buyers will be offered an equity loan of up to 30 per cent of the purchase price, co-funded by Government and the developer.

A full printable guide can be downloaded here.

Why have you introduced it?

We recognise the difficulties being faced by the house building industry and First-Time Buyers in the current housing market, where the global supply of credit has led to the most severe market conditions since the early 1990s.

Evidence collected by the Regional Development Agencies (eg the recent survey of house builders undertaken by the South East England Development Agency - SEEDA), English Partnerships, The Home Builders Federation and others has demonstrated the impact on house builders - who have experienced a reduction in new reservations - and on First Time Buyers, who have struggled to raise the deposits they need in the tough mortgage market conditions.

HomeBuy Direct will respond to the current market conditions by:

• making more affordable homes available to First-Time Buyers who are currently priced out of the market, due to the higher cost of obtaining a mortgage or the need to provide a larger deposit
• providing a targeted boost to the housing market by stimulating more transactions, and
• helping to maintain the capacity of the house building industry to respond when market conditions improve. This will, in turn, help us to achieve our long-term housing supply targets.

How will it work?

Once launched, HomeBuy Direct will operate as follows:

• As with the other HomeBuy products, the 15 regional HomeBuy Agents will be the first point of contact for First-Time Buyers who are interested in applying for the scheme. For Gloucester you should contact Home2Own on 0800 975 1915 or visit therw website at www.home2own.org.uk
• General eligibility for HomeBuy Direct will be the same as for the other HomeBuy products (ie households earning £60,000 or less who could not afford to buy a suitable property on the open market without assistance in the area where they live or work).
• Applicants will also be subject to an affordability check, designed to assess the size of equity share that they are able to afford and sustain.
• If applicants qualify for the scheme, they will be invited to choose one of the HomeBuy Direct properties brought forward by the developers.
• The purchaser will receive an equity loan of up to 30 per cent of the purchase price of the chosen property. The equity loan will be co-funded on equal terms by Government and by the developer supplying the property. The purchaser must contribute the remaining equity (a minimum of 70 per cent), through their mortgage (which could be obtained from any lender regulated by the Financial Services Authority) and any deposit.
• There will be no fee charge for the equity loan for the first five years but a fee will be charged from year six onwards.
• Purchasers can redeem the equity loan in installments, purchasing up to 100 per cent equity after their initial purchase by buying additional equity at the market rate.
• Buyers will be able to sell their HomeBuy Direct home on the open market. When they do so, they will repay the equity loan by way of a share of the sale proceeds. This repayment will be shared equally between Government and the developer.
• If the value of the property has increased by the point of sale, the buyer, the developer and Government will all share in this increase. If the value of the property has gone down, Government and the developer will only share the sale proceeds that are left over once the mortgage has been repaid.

Who will it help?

HomeBuy Direct will help:

• First-Time Buyers
  The scheme is targeted at First-Time Buyers who cannot afford to buy a suitable property on the open market without assistance in the area where they live or work. This may be due to the higher cost of borrowing at present, or other factors.
• House builders
  Current market conditions and lack of mortgage liquidity are impacting heavily on the house building industry. There is a long-term public interest in maintaining the capacity of the industry to respond with increased supply when the housing market recovers. The scheme will help participating house builders by enabling First-Time Buyers to purchase their properties (by offering purchasers a better deal than they would otherwise have received).
• The housing market
  First-Time Buyers are one of the key drivers of the housing market. By assisting First-Time Buyers to purchase, HomeBuy Direct will provide a targeted boost to the market. This will encourage developers to build more to meet the extra demand.

Who will be eligible?

General eligibility for the scheme is the same as for our other HomeBuy schemes (ie households earning £60,000 or less who could not afford to buy a suitable property on the open market without assistance).

Although the scheme is targeted at First-Time Buyers, HomeBuy Direct could also help people who have previously owned properties but are now unable to buy without assistance, for example in the case of relationship breakdowns or families who are over-crowded in their existing homes.

When will the scheme be up and running?

The scheme is now in the process of being rolled out. 3,000 HomeBuy Direct properties are available to purchasers now, and further properties will become available very soon.

TO FIND OUT ABOUT DEVELOPMENTS IN THE GLOUCESTER AREA PLEASE CONTACT MICHAEL TUCK NEW HOMES ON 01452 726443 OR www.michaeltuck.co.uk

HELP AVAILABLE FOR HOUSEHUNTERS WITH NO DEPOSIT

If you’re ready to purchase a brand new property in the sought-after Gloucester area, but are daunted by reports of difficulties in obtaining a mortgage, then fear not as Persimmon Homes South Midlands is hosting a 70 per cent shared equity HomeBuy Direct day at it’s the Marketplace development in the city designed to assist those with little or no deposit.

Persimmon Homes is supporting the Government-led 70 per cent shared equity scheme at it’s Gloucester developments including The Marketplace, The Maples and Kingsway, and has therefore organised the weekend at The Marketplace on 20^th June between 10am and 5pm to help first time buyers and those earning a household income of less than £60,000 to purchase one of the company’s new properties.

Through the initiative, purchasers will be required to raise funding for 70 per cent of the purchase price including a mortgage plus, but are not requested to raise a deposit for their new home. The remaining 30 per cent is made up by an equity loan which is co-funded by the Government and Persimmon Homes.

Alison Reading, sales director for Persimmon Homes South Midlands states: “With so many differing shared equity initiatives now available, househunters are forgiven for being a little cautious and unsure as to what buying through shared equity means.

“It’s for this reason that we’re hosting our weekend – to dispel rumours, answer any questions and help those who initially thought they couldn’t afford to buy, to find a home to suit their needs and budget.”

On the day Persimmon’s expert sales advisers, a mortgage advisor and a representative from HomeBuy Direct will be on hand to assist interested parties with their enquiries.

Persimmon is catering for all purchaser groups at the HomeBuy Direct day as across the company’s highly acclaimed sites the homebuilder is offering two through to four bedroom homes with prices starting from just £90,997 for a two bedroom property.

Alison concludes: “I’d recommend interested parties get in touch with us about our HomeBuy Direct day to find out how we can support them move onto or up the property ladder without a deposit required.”

Further details on the HomeBuy Direct scheme can be found on the Michael Tuck Estate Agents blog or at youtube

The Marketplace is located off St Oswald’s Road, just a short walk form the centre of Gloucester. When complete the development will feature a total of 450 properties, ranging from one and two bedroom apartments to two, three and four bedroom homes, available in a variety of styles, from townhouses to traditional family homes.

As well as excellent new housing, residents of The Marketplace will enjoy a whole host of superb local facilities from a large retail and leisure complex to an improved infrastructure network and the vicinity of city centre bars and restaurants.

For further information about the HomeBuy Direct day and for details on the full range of properties available at The Marketplace and Persimmon’s alternative Gloucester-based developments, please contact Michael Tuck New Homes on 01452 726443 Alternatively, please log onto www.michaeltuck.co.uk or for details of all Persimmon developments in Gloucester.