A first-time buyer from Banbury has secured a next generation starter home with the help of the latest Government-backed finance scheme.

Martin Checkley, 20, will soon be moving into his iPad apartment at Moo-ve in Banbury after qualifying for a 30 per cent equity loan via HomeBuy Direct – a shared equity scheme introduced by the Homes and Communities Agency in April.

The deal means Mr Checkley is able to buy a home with a 70 per cent mortgage and no deposit. The remaining 30 per cent, which is interest free for the first five years and payable when the property is sold, is funded partly by the Government and partly by developers David Wilson.

Mr Checkley, an IT technician, currently rents a home at the development.

At just 381sq ft the iPad comprises an open-plan kitchen, dining and living room, bedroom and bathroom plus a patio or balcony. Each home also has an allocated parking space.

Mr Checkley said: “As soon as I saw the plans for the iPad I knew it would be the perfect first home for me. The show apartment allowed me to visualise the space and because I live on site I knew the location was right for me.

He added: “I am now looking forward to moving in. It has been particularly exciting because my rental property is situated immediately opposite my new iPad, so I can literally watch it being built.”

Buyers like Mr Checkley are able to view an inspiring iPad show home which has been designed to reflect the site’s former use as the Midland Livestock Mart The design is distinctly bovine with a pop art twist – Andy Warhol meets Countryfile.

Created by H&A Interiors, the interior has splashes of bright colour with modern fixtures and fittings. A pink carpet is contrasted with white walls while purple cushions and a bright green headboard give the iPad that wow factor.

Chris Ashmore, sales director for David Wilson Mercia, said: “These homes have been specifically designed to meet the needs of young people, couples and single people who simply want a space which is easy to live in, affordable and in a convenient location.”

He added:“I would urge anyone who has been priced out of owning their own home for the last few years to consider Moo-ve. We are happy to discuss the deals we can offer under HomeBuy Direct. Many buyers will not need a deposit.”

David Edwards, director for the south east region of the Homes and Communities Agency, said: “In the current climate it’s important that we help a range of people to find the best housing option to suit them, and simultaneously help stimulate the building of new homes.with our £400m investment. This just one way in which we are doing this and it is proving extremely popular.”

The HomeBuy Direct scheme is open to first-time buyers, key workers and others people who are currently renting. Households must earn less than £60,000.

The iPads are priced from £116,250. However with HomeBuy Direct they are available from £81,375.

For further information, please call the Moo-ve sales office on 01295 669136.