Persimmon Homes welcomes take off at Farnborough
20 December 2012
Persimmon Homes Southern has welcomed the decision to grant planning permission for a residential development a stone’s throw from the famous Farnborough airfield.The housebuilder will construct 44 houses and apartments on the site off Government House Road, following planning approval from Rushmoor Borough Council. Work is due to begin on the former MOD site next month.
The development, which includes five affordable homes, will provide much-needed places to live for local people and families as well as a communal play area.
Persimmon Homes Southern’s sales and marketing director, Tracey Lee, said: “The development will provide a stunning range of two bedroom apartments and three bedroom Persimmon house designs within four miles of the M3.
“The development is also convenient for rail commuters. London’s Waterloo and Paddington stations can be reached in under an hour via several local rail links situated within ten minute’s drive of the development.”
The properties at Farnborough cater for the local need for more starter homes and family homes with incentives available for first time buyers as well as people embarking on the next step of the property ladder.
Two government backed NewBuy and FirstBuy schemes will be available helping buyers who don’t have a large deposit to put down on a mortgage.
The NewBuy initiative makes home ownership available to those who would have previously been unable to obtain a mortgage with a high deposit required.
The scheme is backed by a number of national mortgage lenders and aims to increase the availability of low-deposit mortgages. With no salary cap, purchasers can secure a 95 per cent mortgage product on new homes up to the value of £500,000.
FirstBuy, a shared equity scheme, means first time buyers only need to find a 5% deposit and secure a mortgage for 75 per cent of the property’s value in order to move into their new home. The remaining 20 per cent consists of an equity loan from Persimmon and the Government, and once purchased, buyers will own 100 per cent of their home.
A marketing suite will open at the Farnborough development in January 2013.