Finance Minister visits site of new starter homes

Following the October monitoring round Mr Wilson announced an additional £10milllion of funding towards affordable home schemes in 2011-12 and for each of the following three years up to 2014-15.

Braidwater Ltd invited the Minister to view the new Ballymena starter homes some of which are still under construction.

During his visit last Wednesday, he also about their plans for the future and how they, as a Company, continue to invest in the local economy and assist in providing sustainable employment for those in the local construction sector.

Mr Wilson said: “Visiting the construction of these turnkey homes, and also seeing the finished product, is evidence that the funding from the Executive has been welcome financial assistance to those getting onto the property ladder for the first time.

“Through affordable housing, government and the private sector are successfully providing accessible housing to many people who want a base from which to build their future. Meeting the new homers and some of the workers still on the construction site of this fantastic new development is very positive and provides a much needed boost to the local economy.

“As Finance Minister I continue to meet with local lending institutions and they have recently assured me again that they are supportive of the Co-Ownership Scheme, and that the Scheme has had an impact on the ground in terms of increased applications and approvals and the availability of mortgage finance. This is welcome and encouraging news.”

Patrick McGinnis Director of Braidwater Ltd said: “We would like to thank the Minister for the commitment he has given to ensure Co-Ownership has the fire power to continue to deliver.

“The recent budget commitments to Co-Ownership have certainly had a real effect on house sales at a time when mortgage availability was becoming near impossible due to stringent credit criteria. In particular our starter homes at this development have sold well in the last six months thanks to the Co-Ownership scheme”.