First Homes

We are delighted to announce that we are one of the first developments in the region to be able to offer the Government’s new First Homes scheme.

First Homes is a new scheme designed to help first time buyers onto the property ladder, by offering homes at a discount of 30% compared to the market price.

The discounts will apply to the homes forever, meaning that generations of new buyers and the local community will continue to benefit every time the property is sold.

Who is eligible to take advantage of the First Homes scheme?

  • Purchasers of First Homes must be first-time buyers and must have a household income not exceeding £80,000.
  • Post-discount price caps on first sale of the property of £250,000 across England (available on selected homes at Novus Apartments up to £250,000).
  • A First Home should be the buyers only home and a purchaser will need to use a mortgage or home purchase plan for at least 50% of the purchase price of the home.
 
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Click here for information about First Homes

Download the First Homes Customer Guide 

Q&A

Q: How do I apply?

A: Because we have the First Homes scheme available at Novus Apartments, you simply need to let the sales advisor know that you are keen to use the First Homes scheme and they will advise you of all the relevant apartments we have available and the next steps.

Q: If I’m buying with a partner or a friend, do we both need to be first time buyers?

A: Yes. If the First Home is being bought by more than one individual all purchasers must be first-time buyers (in keeping with the definition of First-time Buyer as set out in the Finance Act 2003 for the purposes of Stamp Duty Relief).

Q: What deposit will I need to purchase a home through First Homes?

A: You will require a minimum deposit of 5% of the discounted purchase price. Dependent on the property and on mortgage eligibility from participating mortgage lenders.

Q: Will I own 100% of my home?

A: Yes – you will have full ownership of your new home so you can go ahead and decorate your home however you wish (in keeping with planning rules, any leasehold restrictions that apply, and the terms of your mortgage).

One bedroom apartments from £166,250*

Two bedroom apartments prices to be released

Terms & Conditions

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. First Homes is subject to status and available on selected properties up to the value of £250,000. National eligibility criteria conditions apply. Speak to your Sales Consultant for further details. Not available in conjunction with any other offer or discount. 

*Prices shown are First Homes with a 30% discount compared to market price.