Own your own home for less in Tonbridge
First time buyers who thought they couldn’t afford a home of their own could find a move is possible thanks to a Government-backed help scheme.
The FirstBuy initiative gives people on modest incomes and with only a small deposit a helping hand to buy a home and it’s available at Redrow’s Cannons Wharf development in Tonbridge.
With recent research by Halifax showing that, on average, buying a home in the UK is £100 a month cheaper than renting, compared to three years ago when renting was 29% less, it’s a great time to take that first step on to the property ladder.
FirstBuy provides purchasers with an equity loan for up to 20% of the purchase price, jointly funded by the Government and Redrow, but allows buyers to own their entire home from day one.
Redrow Homes recently launched a new phase of development at the popular Cannons Wharf, along the banks of the River Medway, and the first of the new apartments will be ready to move into in June.
With FirstBuy a brand new one-bedroom apartment can potentially be purchased with a deposit of only £5,600 paid towards an initial outlay of just £112,000 (full price £140,000). As an added bonus, home owners who buy through FirstBuy could find themselves paying less for their mortgage every month.
Mary Timlin, sales director for Redrow Homes, explains: “FirstBuy presents a great opportunity for first time buyers to get a foothold on the property ladder. It makes our apartments at Cannons Wharf even better value for money.
“Purchasers could qualify for the FirstBuy scheme if they are a first time buyer, or want to return to home ownership, and their household earnings are less that £60,000 a year.
“With some mortgage products, a deposit of 4% of the property price could be all they’ll need and the loan can be paid back when they have more funds available or come to sell.
“It’s perfect for those on lower incomes now who expect their salaries to rise over time,” Mary added.
The one and two-bedroom apartments at Cannons Wharf are a great choice for professionals, couples, investors or downsizers who want to be within 35 minutes commuting distance of London. They’re also within easy reach of the M25 and M20 via the A21, providing great links to the capital and the coast.
Designed for modern living, they offer open-plan living areas and fabulous fitted kitchens with an array of appliances included, plus a contemporary family bathroom with high quality fixtures and fittings. Many of the two-bedroom designs have an en-suite shower room to the master bedroom and most have French doors leading out onto balconies.
Tonbridge town centre, with all its amenities including shops, cafes, restaurants and supermarkets, is just a short walk away; as is Tonbridge train station, which has direct links to London Bridge station in around 35 minutes.
A new show apartment will open in June and but potential purchasers can visit the marketing suite to view the plans now or find out more by visiting redrow.co.uk.