FirstBuy

Own 100% of your own home with just 4% deposit!*

Your dream of owning your own Redrow home is closer than you think with FirstBuy – a new government backed scheme to help people just like you to get their first foot on the property ladder.

Redrow and the Government could give you a 20% equity loan (interest free for 5 years) which means you may only need to save a 4% deposit and secure a 76% mortgage* - yet you still own 100% of your new home.

SAVE THOUSANDS OF POUNDS ON YOUR DEPOSIT AND SAVE HUNDREDS MORE EVERY MONTH ON YOUR MORTGAGE REPAYMENTS.

Here's HOW it works...

To purchase your new Redrow home for £200,000 you may only need a deposit of £8,000 and secure a smaller mortgage of £152,000. The remainder of the purchase price is covered by the shared equity loan from Redrow and the Government.

Take YOUR first step with FirstBuy

With a lower deposit and much lower monthly mortgage repayments, you can afford to take your first steps on the property ladder. Qualification is easy as long as you are a first time buyer or returning buyer who cannot afford to buy on the open market with a household income of under £60,000 per annum

Your interest free loan is risk free too, if you sold after five years, you only pay back 20% of the sale price:-

e.g. £42,000 on a sale of £210,000 or £36,000 on a sale of £180,000.

This scheme is bound to be popular and funds are limited, so register your interest in FirstBuy today and we’ll make sure you’re the first to know all the details.

To find FirstBuy developments in your area, please select one of the following regions :-

FirstBuy is a new Government-backed initiative to help first time buyers onto the property ladder.

*This mortgage is only available through Halifax - mortgage availability last checked 22nd August 2011. Other mortgages are available from other lenders.

Eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value).

Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Applicants must obtain their conventional mortgage from a Qualified Lending Institution. For the first five years there is no fee charged on the equity loan component. At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be uplifted by RPI +1% p.a.

The equity loan is provided by the HCA and developer and held as a joint second charge.

Own 100% of your own home with just 4% deposit!*

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