Time Running Out For Help To Buy At Brighton Scheme

First-time buyers in Brighton interested in getting on the property ladder using Help to Buy are being urged to ‘pick up the pace’ and housing association Optivo is raising awareness of the initiative as its new build development in Brighton, called Home X.

This flagship scheme is part of the Preston Barracks Regeneration between the South Downs and the sea and are a moment’s stroll away from innovation and collaboration hub, Plus X. The new community taking shape will benefit from Home X’s high-quality residential spaces, each with cutting edge technology, landscaped outdoor spaces and inspiring flexible workspaces.

In Brighton, the average house price is £413,000 with an 11% increase over the last 12 months. Estate agents Savills reports that Help to Buy has only accounted for 2.9% of new builds across Brighton & Hove in the last five years so, for first-time buyers in the area, Home X is considered crucial as a route to homeownership. New residents are now moving into the development, in Lewes Road, and are choosing a selection of studios, one- and two-bedroom apartments with Help to Buy available to first-time buyers, requiring a 5% deposit. The buyer has the help of an interest-free loan worth up to 20% of the purchase price for five years to help towards their deposit.

Rich Login, director of sales and marketing, at Optivo, commented: “As people feel the pinch with inflation rises it is important we give first-time buyers help to get on the property ladder. Those who may have been considering this initiative should look to benefit before it’s too late, and as an industry we need to look at ways to fill the void that will be left by Help to Buy ending.

“At Home X we are building much needed, affordable homes and have seen an increase in interest from first-time buyers using Help to Buy since the beginning of the year and are looking forward to welcoming our first residents in this new, vibrant neighbourhood.”

Home X is part of the Brighton’s largest regeneration scheme, delivered alongside U&I, Brighton & Hove City Council and the University of Brighton. Residents will benefit from a new street with commercial spaces including a convenience store, café space and workshops, alongside a medical centre and pharmacy, and for those who like to keep fit, a 1km running and fitness route.

Home X apartments are bright and spacious with high-quality, open-plan living spaces, wide hallways and plenty of storage space. The homes are flooded with natural light from the floor-to-ceiling windows, kitchens are fitted with smart and energy-efficient Siemens integrated appliances and bathrooms rock modern matt black fixtures and fittings. Selected apartments come with either their own balcony or terrace for outdoor space. Residents making Home X their preferred living choice will also benefit from a concierge service in the communal space, a wellness area, car club membership and choice of either free 12-month bus pass or bike hire membership as part of Optivo’s travel plan.

Tom Bryant, head of new homes for the South East at Savills, added: “Help to Buy offers first-time buyers a great chance to get on the property ladder, providing a helping hand for those who do not have enough deposit to buy on the open market. With a historic shortage of Help to Buy stock in the area, Optivo is making a real difference with the provision of high-quality new homes in an exciting new community.”

A striking new bridge now links the new community with neighbouring residential areas. Lewes Road Bridge will be for pedestrians and dismounted cyclists, bringing the communities of Saunders Park View closer to Lewes Road and Moulsecoomb railway station, as well as bus routes into town and the sea.

Prices start at £231,000 for a studio apartment, £293,000 for a one-bedroom apartment and £381,000 for a two-bedroom apartment, all available with Help to Buy, which comes to an end in March 2023. Other homes are also available to purchase with Shared Ownership. Find out more at www.home-x.co.uk.

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