Affordable homes boost

A SCHEME to make new homes more affordable to buyers priced out of the housing market is being launched by Jones Homes working in partnership with the Government’s Homes & Communities Agency (HCA).

The HomeBuy Direct scheme is available on a number of selected plots at several Jones Homes’ developments across Yorkshire and enables would-be participants to purchase a brand new Jones’ home for up to 70% of the full purchase price.

It is open to first time buyers, key workers and those in social or private rented accommodation who have a joint household income of up to £60,000 per year.

Those who qualify would raise a mortgage for at least 70% of the purchase price from a recognised bank or building society. Jones Homes and the HCA would then provide equal equity loans to make up the cost of the new home, of up to 30% of the full purchase price. These equity loans would then be repaid when the home is sold, based on 30% of the proceeds of the sale.

Developments taking part in ‘HomeBuy’ include Bromley Park in Denby Dale and Kensington Grange in Bramley.