First time buyers will need to hurry if they want to take advantage of the exciting new FirstBuy scheme available at Kier Partnership Homes’ (KPH) new homes development at Balaam Wood, Tessall Lane, Birmingham. FirstBuy is designed to help new home buyers onto the property ladder, by making their first home much more affordable. We have only a limited number of properties available with this special government approved scheme and they’re selling fast!
Balaam Wood is an exciting development of two, three and four-bedroom homes, priced from only £105,596 with FirstBuy (subject to status and qualifying conditions).
These new homes showcase exceptional design, space standards and energy efficiency, as well as high security measures which meet stringent Secure by Design criteria. The sumptuous white-rendered and brick finish, with tall, elegant windows is matched with an equally well designed interior. The beautiful, high-specification kitchens offer integrated dishwasher and fridge freezer. The bathrooms and en suites have quality chrome fittings.
Through the new FirstBuy scheme, the government and KPH will jointly provide an equity loan of up to 20% to top up first-time buyers’ own deposit of 5%. This will allow you to take out a mortgage for just 75% of the purchase price. The equity loan is interest free for the first five years, and after that you will pay interest at a rate of 1.75%, rising annually by the increase (if any) in the Retail Price Index (RPI), plus one per cent. FirstBuy is available on selected plots only through our nominated independent financial advisors.
For example, to purchase a new home from us for £131,995, you would need a deposit of just £6,650 and a mortgage of £99,746. The balance of £26,599 would be covered by the 20% shared equity loan.
You cannot afford to miss out on a visit to our two show homes, which have been tastefully interior designed by award-winning Vogue Interiors of Birmingham. Drop by and we will guide you through the buying process and answer your questions to take away the worry of buying your first home.
If you don’t qualify for FirstBuy there are other deals available, including 5% deposit paid, or for first time buyers: a special first time buyer package, which includes carpets, curtains, and white goods (from a pre-selected range and available on selected plots). If you have a house to sell, ask about our smooth move scheme, which takes away the worry of selling your existing home.
The Balaam Wood marketing suite and show homes are open Thursday to Monday, 10am - 5pm. For further information please call 0121 477 9164.