With seven homes sold in two weeks, sales at Dere Street Homes’ Westfields development in Hartlepool are surpassing the County Durham-based developer’s targets primarily due to being able to offer buyers access to the Government’s Help To Buy scheme.
Geoff Woods, Dere Street Homes’ Construction Director, said, “Of the 24 homes we’re building, seven are now occupied, a further seven are reserved and due to complete very shortly, leaving us with only 10 homes remaining for sale but these are attracting a great deal of interest already from both first time buyers and young families wishing to move onto the property ladder into three bedroom homes.”
Brian Smith, Development Sales Manager, added, “Since we’ve been able to offer the Help To Buy scheme, sales have certainly taken off and I’ve never had seven sales in two weeks before! All the seven sales were to local first time buyers who were undoubtedly attracted by not only the high standard of specification, location and design of the homes, but also because we are able to offer the additional incentive of the Help To Buy scheme which, in essence gives buyers a 20% interest free loan over five years.”
“It’s a massive help to buyers as we know from talking to potential customers that the deposit can be a huge problem but, partly as a result of its availability, there’s now a really nice community growing here with a nice mix of professional couples and young families.”
The Help to Buy scheme offers buyers of new homes an equity loan of up to 20% of the cost of a new built home. The loan is interest free for the first five years with interest only charged in the sixth year and thereafter and, in essence, means a buyer of a new built home only needs to find 5% of the cost of the home as a deposit, with the 20% Help to Buy loan making up the remainder of the deposit and a 75% mortgage making up the remainder of the total cost of the home.
Westfields is an established development which offers some 65 two, three and four bedroom new homes at the top of Brierton Lane on the west side of the town, yet within easy reach of the town centre and Marina. The development has a broad mix of designs including the two and three bedroom semi-detached homes currently available.
All the homes are built to the very latest standards which incorporate extremely high levels of energy efficiency, thereby saving home owners money in the long run on their fuel costs. Prices for the remaining 10 homes start from £107,500.00, or £86,000 with Help To Buy, with full details available from Brian Smith, on-site Development Sales Manager (open Thursday to Monday 10.00am – 5.00pm) on (01429) 289613 or from Head Office on (0191) 373 6535.