Scheme allows couple to buy their first home

Thursday 5th May 2011, 4:52PM BST.

Jenny Webb and Richard Cosgrove, from Telford, who used the HomeBuy Direct scheme to get on the property ladder

Shropshire couple Richard Cosgrove and Jenny Webb had to use a Government-led scheme to help buy their first home after struggling to find a lender willing to give them a mortgage they could easily afford.

Both full-time professionals, Richard said today they were repeatedly being given the monthly repayment figures for different mortgages which they could cover but still could not find a lender willing to back their bid.

“It was just so frustrating. Even though we earned four times as much as the repayments we just didn’t meet new criteria which has been introduced at so many different lenders.”

Now settled in Station Road in Donnington the couple were among many first-time buyers struggling to get on the property ladder.

Luckily they were able to make the most of a HomeBuy Direct Scheme which allowed purchasers the chance to buy a brand new home for an initial outlay of just 70 per cent of the price.

Click here to read the full story in the premium 24 website.

View more: Donnington news, Property news.