Llanmoor releases Homestep Homes

Llanmoor Homes has recently announced the release of 3 new homes under the Rhondda Cynon Taff Homestep Scheme.

Homestep is a unique scheme which aims to address the problems faced by first time home buyers and provide an affordable option to those in a stable financial position, and who are resident or work in Rhondda Cynon Taff, yet still unable to purchase a home outright.

Under the scheme, Llanmoor sell the properties to purchasers at 70% of their market value and the council retains the other 30% ownership. The owners then have the option to purchase the balance of 30% after 12 months. These properties are only available to buyers who genuinely require the assistance of Homestep and fulfil the qualifying criteria.

Llanmoor will be offering 3 of their popular ‘Chelsea’ homes for sale through this scheme at their Padfield Court development in Tonyrefail. With a market value of between £118,995 and £119,995, these properties could be purchased for £83,297 and £83,997 respectively under the scheme. The Chelsea is a 2 bedroom semi-detached property which offers a spacious kitchen/diner area and two double bedrooms.

The homes are currently under construction but due for completion within the next few months. Llanmoor are encouraging purchasers to register their interest in these properties now to avoid missing out.

Padfield Court has assigned a total of 20 2 bedroom properties for purchase through this scheme. The first 5 of these properties were sold last year with the rest due to be completed over the next few years.

A number of the properties on the development are also available to buy through the Welsh Government’s Help to Buy – Wales Shared Equity Scheme. Help to Buy – Wales operates in a similar way to the Homestep scheme, enabling buyers throughout Wales to purchase a new build property with a minimum of 5% of their own deposit and 75% mortgage, with the Government providing a 25 year equity loan for up to 20% of the property value.

Padfield is Llanmoor Homes’ first development in the Tonyrefail area and has proved extremely popular with house hunters. Located on the site of the former Royal Worcester Spode China Factory, the development features 137 detached, semi-detached and link properties.

Tim Grey, Sales Director at Llanmoor Homes said: “We understand that finding a deposit and securing a mortgage can be challenging and sometimes even impossible for some people. As a house builder, it’s our responsibility to work alongside other organisations and government bodies to help first time buyers overcome some of these difficulties, and this is why schemes such as Homestep are so vital for helping people to take that first step onto the property ladder.

“With buyers able to benefit from the assistance of either Help to Buy Wales or Homestep there are a number of affordable home options available at our development. Homestep has already helped 5 people buying houses at Padfield Court and I look forward to welcoming future home owners to these 3 new properties.”