DownsMail Advertisement feature The ‘Key’ to purchasing your first new home


THERE are few properties on the market that first time buyers can reasonably afford. However, there are several exciting new-build initiatives in the South East to consider and Christine Milsted, the Managing Director of Invicta IFA explains why these schemes may be the answer you are looking for.


Invicta IFA has been providing independent mortgage advice since 1997 and specialise in affordable home ownership.


Whilst


many other mortgage advisers have ceased trading since the “credit crunch” your dedicated local specialist is still offering you a fantastic opportunity to take advantage of their knowledge, experience and expertise in this field. They also help by liaising with the housing association on your behalf and their extensive service doesn’t end until you move into your new property!


Homebuy schemes are


jointly by the government and the housing association.


Christine (seated) and her Team at Invicta IFA


available for those with a housing need, who cannot purchase a property on the open market. These government funded initiatives help qualifying applicants to get a foot onto the property ladder.


First Buy - For first time buyers purchasing a new build property using an equity loan co funded by the government and the developer of up to 20% of the value of the property.


The


borrower requires a 5% deposit, with the additional money raised as a first charge


mortgage. The equity loan is interest free for the first 5 years and is secured on the property as a second charge.


Homebuy Direct – Similar to First Buy.


A shared


equity scheme which allows first time buyers to buy a minimum of 70% of the market value of a new home by way of a mortgage and an equity loan of up to 30% is provided


Shared Ownership – These schemes allow you to buy a share of a property on a part buy/part rent basis and when affordability allows, you can increase your share in the future. This means you could eventually own the property outright!


Purchasers must be mortgage qualified by a professional adviser before they can have an offer accepted on a new home and these properties have attracted a great deal of interest in our area.


So to avoid


disappointment, be prepared and seek advice early.


Telephone: 01622 662636 Email: enquiries@invictaifa.co.uk www.invictaifa.co.uk


Have you reviewed your finances recently?


Invicta Independent Financial Advisers can help with all your financial planning enquiries. We are a local business offering a friendly but professional service to individuals and small businesses. Our specialist areas include:-


• • • • •


Mortgages


First Buy/Shared Ownership Income Protection Life Assurance


Business Assurance


• • • • •


Pensions & Retirement Planning Annuities


Savings & Investments


Trusts & Inheritance Tax Planning Equity Release


CALL INVICTA IFA NOW to speak to a qualified adviser


Telephone: 01622 662636 Email: enquiries@invictaifa.co.uk www.invictaifa.co.uk


Address: Invicta IFA, 1st Floor Falcon Court, 73 College Road, Maidstone, Kent, ME15 6TF


Registered Office: The Granary, Hermitage Court, Hermitage Lane, Maidstone, Kent, ME16 9NT. Registered in England No. 3330755.


Invicta IFA Limited is authorised and regulated by the Financial Services Authority.


The Financial Services Authority does not regulate taxation and trust advice. There may be a fee for mortgage advice, the precise amount of the fee will depend upon your circumstances but we estimate that it will be £395. Your home may be repossessed if you do not keep up repayments on your mortgage.


 Have you got news for us? Phone our News Desk on 01622 734735 Town 7


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