HCA hands itself Homebuy subsidy

The HCA-backed English Cities Fund's residential phase at St Paul's Square has become the only property in Liverpool city centre to be approved for the Homebuy Direct scheme.

ECF is a partnership between Muse Developments, Legal and General and the Homes & Communities Agency.

Under the Homebuy Direct scheme buyers are offered funding assistance by the Homes & Communities Agency in the form of up to 30% off the purchase price thanks to shared equity taken by developer and Government, with only a 5% deposit and mortgage for the remainder required.

The 10-storey apartment block containing 50 flats has sold slowly since completion in spring 2007 as part of the first phase of the mixed-use development by ECF.

But David Caught, ECF sales and marketing director said interest has risen markedly since the Homebuy Direct package was launched at a recent event for first-time buyers in Liverpool.

Apartments at St Paul's start at £99,950 for a one-bedroom apartment or £154,950 for a two-bedroom apartment.

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They are not in the best location for City Centre Living, sandwiched between three office blocks. No decent views on any side so one might reasonably question the decision to construct in the first place

By Anon

Good point – unless you like flashing at office workers

By Manon