First home buyers get help in Essex

THE clock is ticking as the Government gears up to release news about which properties in Essex will be selected for purchase assistance from the new FirstBuy scheme.

The launch of the scheme was announced in this year’s budget and is designed to get first-time buyers (or those re-entering the market after a period of time) onto the property ladder.

FirstBuy is intended to work with a joint 20 per cent loan from the Government and Bovis Homes, with the purchaser only needing a five per cent deposit and a 75 per cent loan-to-value mortgage.

You could qualify if you are a first-time buyer and your household earnings are less than �60,000.

Bovis Homes, which has sights across north Essex should hear which of their properties have been granted FirstBuy status next week.


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Group marketing director Kevin Wilkins said: “We hope that FirstBuy will become an important part of our suite of purchase assistance schemes aimed at helping homebuyers get moving.

“It is set to offer another attractive solution for purchasers in the current climate, requiring a low percentage deposit and with a shared equity element that reduces the amount the buyer has to pay up front.”

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More information on the scheme and Bovis Homes developments can be found at bovishomes.co.uk.

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