FirstBuy
You can't afford to miss this opportunity
Taking that first step onto the property ladder is never easy. However with the new Government backed scheme, FirstBuy, the dream of buying your first property can become a reality.
FirstBuy is a shared equity scheme which enables first time buyers to purchase a new property at just 80% of the price now. Funding is provided in part by the Government and Crest Nicholson via a loan with a minimum contribution required from the purchaser of just 5%. With the scheme only available on new build properties it means that you can make that first step to home ownership whilst enjoying the many benefits associated with new build homes.
Whether you are looking for a house or an apartment there will be something to suit everyone and with all properties built to our exacting standards you can be sure to find your dream property with Crest Nicholson.
Terms and Conditions
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.