First Homes Scheme Launches At Slough Development

First-time buyers, eager to take their initial step onto the property ladder in Slough, can now access a new government scheme at Novus Apartments, which allows them to purchase at a discounted price.

The First Homes scheme is designed to help local first-time buyers and key workers onto the property ladder, by offering new homes at a discount of 30% compared to the market price – as a result, making deposits and mortgages more affordable.

The 30% discount will apply to the homes forever, meaning that generations of new buyers will continue to benefit every time the property is sold.

Novus Apartments is the only development in Slough currently able to offer this scheme.

Andy Howell, general manager at Slough Urban Renewal (SUR), said: “We are delighted that Novus Apartments is one of the first developments in the region to be able to offer the new government First Homes scheme. By enabling us to offer the homes at a discount of 30%, we are able to open up these homes up to more first-time buyers and key workers, who are currently finding themselves priced out of the market. The new First Homes scheme is set to make homeownership more accessible to those commencing their home buying journey and we are excited to be able to offer it here at Novus Apartments. Anyone who would like some more information is urged to book an appointment to visit our sales office.”

The First Homes scheme is available on a selection of the one- and two-bedroom apartments at Novus Apartments.

First Homes was announced by Homes England with a total of £150million to invest with its pilot scheme and had highlighted Slough in their top 10 areas to invest in. Apartments allocated to the First Homes scheme effectively reduce the market value by 30% to prospective homeowners, which is then topped up by the grant. The scheme is targeted to first time buyers who live or work in the borough, along with keyworkers or Armed Forces personnel.

Novus Apartments comprises a collection of studio suites, one- and two-bedroom, the latest collection of homes to be delivered by Slough Urban Renewal (SUR), the joint venture between Slough Borough Council and Muse Developments. The homes enjoy a central location, situated within easy walking distance of both the train station and the town centre. The homes, which are highly specified, are now ready to move in to.

Every home at Novus Apartments has been built to a high specification, with Symphony kitchens and contemporary bathroom suites as standard. Amtico flooring is included in all living areas and fitted wardrobes are installed in all master bedrooms.

Under the First Homes scheme, prices for the one-bedroom apartments available through First Homes start from £178,500 (full market price £255,000). The two-bedroom apartments available through First Homes start from £232,750 (full market price £332,500). Find out more about Novus Apartments from Slough Urban Renewal.

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