Getting Foot on the Property Ladder for First Time Buyers can be Easy
Elizabeth White, 28 years old, from Coventry is the first West Midlands resident to become a home owner thanks to the Government’s Open Market HomeBuy affordable housing programme.
The programme, managed by Mercian Housing Association, the Government appointed HomeBuy Agent for the region, assists people to get a foot on the property ladder and purchase their own home.
Mercian, as HomeBuy Agents, works closely with local authorities and housing associations to give access to affordable housing for first time buyers and key workers, including this Government subsidised Open Market HomeBuy scheme, providing a 25% equity share loan.
The first HomeBuy Agency completion was delivered in partnership with Coventry City Council where Ms. White was registered on the affordable housing register and was able to purchase a property within HomeBuy scheme.
The first time buyer, Ms. White said: “I am very pleased with my first home. Finding the right house through the HomeBuy Agency was very easy and the funding made my mortgage more affordable to allow me in getting on to the property ladder.”
Roger Clark, Mercian’s Home Ownership Director commented: “We are really pleased with our appointment as one of the Government’s new HomeBuy Agents. In partnership with Coventry City Council and the Housing Corporation we have now completed the first of a planned 150 schemes in the region this year. Mercian’s ambition is to work with and support all associations and local authorities in the region and to be a centre of excellence and innovation to deliver the government affordable homes agenda.”
Councillor Hazel Noonan from Coventry City Council added: “This is a fantastic opportunity for local people to get their foot on the property ladder, and the City Council is pleased to help people become home owners through HomeBuy."
HomeBuy is a Government led initiative launched in April this year. The aim for the programme is to enable 100,000 more people become home owners by year 2010.
For more information please contact Joanna Marston on 07866 735559 or email jmarston@mercian.org.uk.