Lion’s Share proves roaring success for first time buyer in Rugeley

20th November 2012

Walton Homes has reported that an increasing number of first time buyers looking for a home in Rugeley are making use of the developer’s equity loan scheme, Lion’s Share, at its Brindley Rise development.

Lion’s Share has been designed by Walton Homes to make it more affordable for first time buyers to get onto the property ladder. Under the scheme, purchasers own 100 per cent of their home but pay just 80 per cent of the price – made up of a 75 per cent mortgage and a 5 per cent deposit.

Haley Halket is one such first time buyer who has recently purchased her home under Lion’s Share. Haley and her partner Andre have bought a three bedroom Ebington house at Brindley Rise, located on Wharf Road in the centre of Rugeley. Purchasing under Lion’s Share meant Haley made a saving of £29,000, paying just 80 per cent (£116,000) of the listed price for the property (£145,000).

Haley said: “Andrew and I had looked at a few new-build developments whilst searching for our first home but when we saw the houses on offer at Brindley Rise they really ticked all our boxes – what’s more the sales team suggested that we purchase the property under Walton Home’s Lion’s Share scheme which meant we could get exactly the home we wanted but didn’t have to worry about a hefty deposit. In fact, we paid a deposit of just £7,250!

“We have a young son so the layout of the house and garden space was really important to us. The Ebington house provides us with the space we need for our family whilst still retaining key design features such as an open plan kitchen and dining area and plenty of storage space.

“After renting for six years it is a huge relief to have finally purchased our first home and what’s even better is that we don’t feel like we’ve had to compromise on either design or space, despite the difficulties people are having in purchasing their first home. We’ve already been busy decorating and have gone for teal, plum and neutral shades – it looks great! The sales team has been so helpful every step of the way and I would certainly recommend them to a friend.”

Lion’s Share is available to all purchasers at Brindley Rise, whether they are first time buyers or moving up the property ladder and there is no strict criteria to meet. The only requirement is that the 20 per cent interest free loan is paid back to Walton Homes when the property is eventually sold on or after 10 years – whichever is sooner.

When complete, Brindley Rise will comprise 61 homes, ranging from one bedroom to three bedroom houses. Construction is now well underway and Walton Homes aims to have built 19 of the 61 homes planned by the end of the year. For those people wishing to purchase off plan, there are a variety of fixtures and fittings now available to choose from, meaning buyers can have a say in the design of their new property.

Walton Homes is a family run housebuilder based in Lichfield, with a track record spanning over 25 years in the regional property industry.  The force behind a significant number of regeneration projects and new housing developments in Staffordshire and the wider West Midlands area, Walton Homes has secured a reputation for its bespoke, quality approach to house building.

The show homes at Brindley Rise are available to view from 11am to 5pm, Saturday and Sunday. For more information on Brindley Rise, please call Walton Homes on 01543 49033, alternatively, log onto the website at www.waltonhomes.co.uk.