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Special Affordable Homes Initiative To Local Buyers In Coventry

Posted 1 December 2021 by Keith Osborne

Persimmon Homes is running an initiative allowing local buyers to purchase at 75% of market price at Bannerbrook Park...

Persimmon Homes is helping local Coventry people struggling to get on the property ladder buy their own home by offering a number of affordable two-bedroom apartments available for just 75% of the market value at its Bannerbrook Park development on Jasper Close.

That means local people who qualify could own their own apartment for just £120,750. The Discount on Market Value scheme is already proving popular with first-time buyers, keen to get their first foot on the property ladder but priced out of the market.

Sarah Preston, sales director for Persimmon Homes Central, said: “There are various schemes that make homeownership affordable, but ours targets local people, giving them a helping hand to buy a home within their own community.

“It is a brilliant scheme and the feedback we have had is that it’s a quick and hassle-free route to becoming a homeowner in your home town.”

To qualify, buyers need to live within three miles of the local authority boundary and have local connections. Income caps apply – £30,000 for a person buying on their own, and a joint income of £45,000 for a couple. They also need to be able to put down a deposit of 15% of the discounted price. The buyer would wholly own the property but, if it is sold at a later date, they would only receive 75% of the proceeds of the sale.

Bannerbrook Park is a collection of new homes just a stone’s throw away from Coventry city centre, with its designer shops, cafés and restaurants. The open-plan apartments all have en suite to bedroom one, a handy storage cupboard and come with an allocated parking space.

Preston added: “At Persimmon, we are proud to create homes to suit the whole community. The provision of affordable homes within our developments is an important element in helping our local towns and villages to survive and thrive.”

Find out more about Bannerbrook Park from Persimmon Homes.


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