First time buyers take advantage of innovative Solihull housing scheme

First time buyers in North Solihull are being given a helping hand onto the housing ladder thanks to an innovative scheme that has been introduced by the regeneration partnership that is currently re-shaping parts of North Solihull.

Funded by North Solihull Council, the North Solihull Opening Doors scheme provides an interest free ten year loan of 15% or up to £20,000 to help first time buyers purchase a new home.

Nurse Stacey Kiely (23) and her friend Hayley Goodison (25) both work at Heartlands Hospital and have just bought a Bellway mid terrace Ripley house type putting down a 5% deposit and taking an interest free loan of £20,000.

“We had been living at home with our parents in Smiths Wood and Castle Bromwich and really wanted to get a place of our own rather than wasting money renting a property. The Opening Doors scheme made all the difference, we only needed an 80% mortgage which means that our monthly payments are lower and we have up to 10 years to pay off the loan that the partnership provided, without their help we would still be living at home,” said Haley.

Bellway is able to offer the North Solihull Opening Doors scheme on a number of selected properties at its sites throughout North Solihull.

Commenting on the scheme, Bellway’s Sales Director, Steve Rose, said: “Many young people are put off buying their first home because they think that they need a really large deposit; however in North Solihull we have developed a range of houses that are priced to appeal to first time buyers. Most people will find that they are paying the same amount of money to buy a new home as they would for renting a property.”

At Roseberry Court buyers can select from a range of properties starting in price from £134,995 for a three bedroom end terrace home rising to £169,000 for a three bedroom semi-detached home.

For more information please call the sales centre Tel 0121 770 4989 open Thursday to Monday 10:30 - 5pm and Thursday 10:30 - 7:30pm.