Shared equity for first-time buyers
EVERY one of Keepmoat Homes’ Yorkshire developments that bid for Homes and Communities Agency (HCA) FirstBuy status has been granted funding.
A total of £720,000 will be made available and that figure will be matched by the developer to provide £1.44m for shared equity loans to first time buyers on nine sites.
This will ensure that at least 66 purchasers will be able to take advantage of an equity loan of up to 20 per cent of the value of the property, equally funded by the HCA and Keepmoat Homes. No fees or interest are charged on this loan for five years, unless the property is sold.
For more information on the shared equity scheme visit www. keepmoathomes.co.uk.