HomeBuy Direct property scheme 'positive for south-east'

Posted: 27 May 2009 12:18:17 GMT

The newly-established HomeBuy Direct property initiative has apparently had a positive effect on the housing market in the south-east of England.

First-time buyers and families who are renting see the scheme as an ideal way to jump on the first rung of the property ladder, according to one expert.

Paula Carter, south-east regional sales manager for homebuilder Taylor Wimpey, said the programme is good for the whole property industry.

"It is proving extremely popular at the present time," she explained before adding that the three-bedroom town houses are particularly sought after.

HomeBuy Direct is allowing people in the south-east to move when they thought it may be impossible to do so, she added.

The scheme sees buyers share the ownership of a property with their local council, while still paying rent on the half that is not theirs.

It is hoped that over a few years, the buyer will gradually be able to pay off the mortgage so they own the whole home.


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