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Clive said: "I heard about the FTBI Bellway was launching with English Partnerships and thought it was an amazing opportunity, as I could not have afforded a property of this calibre for at least another 10 years."
The 30-flat Ochre Yards complex on the Gateshead side of the High Level Bridge is the first development in the North-East being sold under the FTBI.
The Board has reviewed these factors in light of the facts of record, including public comments, supervisory reports of examination assessing the financial and managerial resources of OKB-NA, OKB, and FTBI, and other information provided by Fifth Third.
The First Time Buyers' Initiative (FTBI) enables buyers to raise a mortgage for 50 per cent of the property value with the remaining 50 per cent provided by the Government - repayable after a number of years.
"However the FTBI scheme makes it possible to buy without needing a hefty deposit and with affordable mortgage repayments." Hardwick Green is open daily from 100am to 5pm.
What is great about these schemes is that buyers own 100 per cent of the property but do not have to secure a mortgage for the full price - the remaining balance is borrowed from the Government." FTBI is a Government-backed scheme which sees the Homes and Communities Agency assist the homebuyer with up to 50 per cent of their mortgage, by paying a lump sum to the developer.
The FTBI means house hunters could buy a home without needing a deposit and with manageable monthly repayments.
From January to March this year we have helped 12 first time buyers get onto the property ladder at Park Central, which averages out at one purchaser a week - a strong figure for such a competitive marketplace and a clear indicator that confi- dence is returning and first time buyers are keen to explore their options." FTBI is a government-backed scheme which sees the Homes and Communities Agency assist the homebuyer with up to 50 per cent of their mortgage, by paying a lump sum to the developer.
If you're eligible for FTBI, you could take out a mortgage for a minimum of 50% of the price of the new home, with the other 50% being contributed by the Government.
Matthew, 26, who had been living with his parents, said: "It wouldn't have been possible for me to own a home like this without the FTBI and it is something I'm very thankful for.
Hardwick Green is the first Barratt development in the North-east to be awarded funding under the new First-Time Buyers' Initiative (FTBI), which is part of the Government's new HomeBuy low cost ownership initiative.
The first time Buyer Initiative (FTBI) is backed by the government and run through English Partnerships, the national regeneration agency, alon with a number of developers.
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