WITH a recent report placing Peterborough homes among the most affordable in the country – there is even more good news for first time buyers looking to move to the city.
Statistics from the Halifax show that Peterborough is the most affordable local authority district in the southern half of the country – with first time buyer homes costing 3.98 times the gross average annual income.
This compares with the least affordable district of Brent in London where the typical price is 9.1 times gross average earnings.
The report states that a home is deemed affordable when it costs less than four times the gross average earnings.
Linden Homes is currently helping first time buyers to climb the housing ladder at its popular Burghfield Place development at Manor Drive, Gunthorpe.
A range of two, three and four-bedroom homes are currently available, with some eligible for the Government’s FirstBuy Scheme.
Requiring purchasers to secure just a five per cent deposit, FirstBuy has been designed specifically to support first time buyers.
It allows eligible buyers to own 100 per cent of their new home but only pay as little as 80 per cent of the price/mortgage.
The remaining 20 percent is met through the Government and Linden Homes by means of a loan, repayable on the resale of the property.
Linden Homes sales manager Warren O’Callaghan said: “We have been supporting first time buyers at our Burghfield Place development for some time through a series of incentives including, most recently FirstBuy.
“However, it is pleasing to know that Peterborough’s ranking as an affordable place for first time buyers is high – and we hope that buying a new home in 2012 becomes an even more pleasurable and affordable experience for those looking to step onto the housing ladder.”
Burghfield Place currently offers a selection of terraced and detached homes, some of which are ready to move into now.
The sales and marketing suite and show home are open daily from 10.30am until 5pm. Alternatively call the sales team on 01733 327625.
|Making moving more affordable for first time buyers
– Linden Homes at Burghfield Place in Peterborough.
For further information please contact:
Media Matters PR
Linden Homes Midlands
Tel: 01733 371363.
04 January 2012