Fifth Avenue celebrates success of helping 100 first time buyers onto the property ladder
9 March 2010
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Housebuilder Barratt North London celebrated success at its Fifth Avenue development in Harlow on Friday 5th March after helping 100 First Time Buyers onto the property ladder through one of its joint purchasing schemes delivered with the Government’s Homes and Communities Agency (HCA).
At the event, which was attended by Bill Rammell MP and several Harlow councillors, 100 Balloons were released to mark the achievement.
Through HCA funding and its own contributions, Barratt has now been able to make homeownership a reality for a remarkable 100 First Time Buyers in Harlow. Enabling purchasers to get onto the property ladder through a range of purchasing schemes where only a 5 per cent deposit is required, getting on the property ladder in Harlow has become a realistic option.
Glyn Hopping, Managing Director for Barratt North London comments: 'This is a fantastic achievement for Fifth Avenue and we are delighted that so many local First Time Buyers have been able to make the most of the funding available to them. At Barratt we are dedicated to helping First Time Buyers achieve their dream of homeownership and Fifth Avenue is an excellent example of where this has been achieved.'
HCA funded schemes under the Homebuy umbrella such as HomeBuy Direct, as well as Barratt’s own Head Start scheme are ideally suited to First Time Buyers struggling to make it into home ownership. They assist by offering eligible purchasers up to a 30 per cent loan on the value of the new home which can be paid back when the property is sold.
Bill Rammell MP who attended the event and has been involved with the development since its launch comments: 'Government support for first-time buyers is helping Harlow people get on the housing ladder. I am delighted to see Fifth Avenue welcome its 100th First time Buyer.'
He continues: 'Fifth Avenue originally came as part of the Government’s £11 million Gateway grant, which also brought us the Leisurezone and new Harlow Town FC football stadium, something I strongly pressed for. I have always campaigned for new affordable homes for rent and for sale in Harlow. With a housing waiting list of over 8,000 people this is what we urgently need. I am very pleased to see that this Government’s first-time buyer schemes have contributed to the success of the Fifth Avenue development and have enabled so many people, including the 100th purchaser who celebrated with us on Friday, to purchase their first home. I continue to strongly press Harlow Council to take up Government subsidy which provides funding for new affordable rented homes in the area.'
The 100th purchaser Lauren Denney (22) purchased a two bedroom house at Fifth Avenue through a Homebuy scheme. Only having to pay for 70 per cent of the value of the property upfront, Lauren and her boyfriend Jonathan Richardson were able to get onto the property ladder with a Homebuy scheme at the development.
Lauren comments: 'It really is a fantastic scheme and without it there is no doubt that we would have been able to get onto the property. We are so excited about moving into our new home in a couple of weeks and would recommend anyone in the local area to make the most of one of these purchasing schemes before they come to an end.'
Terry Fuller, Regional Director for the HCA in the East of England says: 'Helping first time buyers onto the property ladder is really important aspect of creating thriving communities. This scheme at Fifth Avenue Harlow was crucial to the wider Harlow Gateway regeneration which includes state of the art sport and leisure facilities as well as housing. I am delighted that we have helped provide 100 first time buyers with homes here in Harlow.'
Fifth Avenue is superbly located near the main A414 to Chelmsford, half a mile from the railway station, on the northern edge of the town centre, the development is ideal for commuters. The M11 is around three and a half miles away and provides access to Cambridge and the south to the M25 and London. Conveniently, Stansted Airport is around 12 miles away.
Prices for homes currently available at Fifth Avenue start from £260,000 for a 3 bedroom house. For more information, visit barratthomes.co.uk/fifthavenue
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For further information about Barratt North London please contact Rachel Greaves, Regional PR Manager on 07795126562 or Rachel.greaves@barratthomes.co.uk.
For further details about the HCA please contact Emma Drake, HCA East of England, 01223 374008 emma.drake@hca.gsx.gov.uk.
Notes to editors:
The Homes and Communities Agency (HCA) is the single, national housing and regeneration delivery agency for England. Its role is to create opportunity for people to live in high-quality, sustainable places. It provides funding for affordable housing, bring land back into productive use and improve quality of life by raising standards for the physical and social environment.
Barratt Group is expected to build 11,500 homes in the current financial year, making it the biggest housebuilder by volume in Britain.
- Barratt Group was the only major housebuilder to be given a four star rating – its highest ever score – in 2009’s HBF Customer Satisfaction Survey.
- In 2009 site managers working for Barratt Group won the highest number of NHBC Pride in the Job Quality Awards for a record fifth consecutive year.
- Barratt Group is the only housebuilder to guarantee the fixtures and fittings in place at the time of purchase of its new homes for five years.
- Barratt Group is also one of Britain's foremost sustainable housebuilders. It has now started on site at the Hanham Hall development near Bristol which will be the first Code for Sustainable Homes Level 6 community in the UK when it is completed in 2011.