National funding boost for buyers

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MANSFIELD-based housebuilder Rippon Homes has received national funding that could help more first time buyers get that valuable first step on to the property ladder.

Rippon has received an allocation in the new FirstBuy shared equity scheme that was introduced by the Government in a bid to make home ownership more viable to those who had previously been priced out of the market.

With FirstBuy, eligible first time buyers can initially purchase a property for just 75 per cent of the asking price and with a five per cent deposit.

The remaining 20 per cent is funded by a joint loan from Rippon and the Government’s Homes and Communities Association (HCA).

Tracey McLaren, Sales and Marketing Manager at Rippon Homes, said: “We’re delighted to announce that we have been successful in our application to receive some of the Government’s FirstBuy funding and we look forward to helping local first time buyers achieve their dream of home ownership.

“We’ve received allocation on 20 of our three-bedroom properties so this really is an unmissable opportunity for young families to buy a quality new Rippon home at the lowest possible price.

“With FirstBuy, you could buy a new Rippon home with an initial mortgage from as little as £94,962 and with a deposit of just £4,998 making this an unmissable opportunity for all those who have previously struggled to afford to buy a new home, to get that vital first foot on to the ladder.”

Paul Spooner, executive director for the HCA Midlands said; “Thanks to FirstBuy, 2,500 first time buyers in the Midlands will be able to get a foot on the property ladder, while house builders including Rippon Homes will benefit from an additional source of sales, give a much-needed boost to the development industry.”

Rippon’s allocation is limited and will be awarded on a first come, first served basis only.

Interested purchasers are being encouraged to register their interest now as the first homes are expected to be available on the scheme from September.

To find out more call the free phone sales hotline on 0800 169 7644 or log on to the website at www.ripponhomes.co.uk