Award winning regeneration company Urban Splash is launching a new Government initiative called HomeBuy Direct at its Saxton development in Leeds.  The first phase of the redevelopment, formerly known as Drive, houses 176 apartments over nine floors, with the first residents moving in this month.  Selected apartments at the scheme will be available on the HomeBuy Direct scheme, an initiative from the Homes and Communities Agency which facilitates low cost home ownership.

If they meet the eligibility criteria, purchasers get a five year interest free-loan (funded by the Government and Urban Splash) for up to 30% of the value of the property. The remaining 70% will be funded through a combination of mortgage and savings.  Prices start from £70,000* for a 70% share in the value of an apartment. First time buyers are invited to an open day at Saxton, Leeds on Saturday 3rd October 2009, from 11am to 5pmwhere they will be able to view the show apartment and talk to the Government’s HomeBuy agent in Leeds, My4Walls, about their eligibility for HomeBuy Direct. There will also be an independent financial adviser on hand to discuss mortgage options available to purchasers.

Nicola Wallis, director of sales at Urban Splash, said: “This is a fantastic new scheme that gives our customers the option of owning their own home, whilst only having to obtain a 70% mortgage. Our success with similar affordability products in other areas of the country, such as the First Time Buyers’ Initiative, gives me great confidence in how this scheme will help buyers struggling to get on to the property ladder in Leeds.”

HomeBuy Direct is available on 15 apartments within the first phase of Saxton, one of seven residential blocks that form Saxton Gardens on the fringe of Leeds City Centre. The redevelopment has covered all aspects of the building and internal layouts have been redesigned, creating contemporary living space, the building’s exterior has been re clad and extensive landscaping works have been completed. 

Urban Splash managing director Simon Gawthorpe added: “Saxton’s a really important scheme which will breathe life into this area of Leeds. It’s a true regeneration project and one which will add to the existing community at Saxton Gardens.”

Anybody wishing to obtain further details of HomeBuy Direct can call 0333 666 6000 or visit www.urbansplash.co.uk/homebuy-direct or for general information about Saxton and Urban Splash in Leeds, visit www.urbansplash.co.uk/projects/saxton for further details. 

* See full terms and conditions in the HomeBuy Direct Buyers' Guide, available to download from our website.