Luxurious apartments in reach for first time buyers
As a first time buyer the thought of owning a stunning property on the sought-after Calthorpe Estate in Edgbaston may feel out of reach, but thanks to Taylor Wimpey Midlands’ Highfield Gardens development this dream could soon turn into a reality.
Through the homebuilder’s commitment to Government backed FirstBuy scheme, first time buyers can purchase one of the attractive one and two bedroom apartments at Highfield Gardens with just a 5% deposit, which can be as little as £6,200.
Anne Wallace, regional sales and marketing director for Taylor Wimpey Midlands, explains: “Edgbaston is renowned for being one of the most desirable suburbs in Birmingham so it’s not surprising our Highfield Gardens development is proving to be a popular choice among local house hunters.
“By offering the FirstBuy scheme on selected apartments, we’re helping to ensure first time buyers are able to purchase one of our stunning properties without having to raise a large deposit.”
FirstBuy works through a joint loan of 20% from the Homes and Communities Agency (HCA) and Taylor Wimpey, which means that eligible purchasers only need to raise a 75% loan-to-value mortgage. To be eligible, purchasers must be first time buyers and the total household earning should be less than £60,000 and the loan is repayable at the end of the mortgage term or when the property is sold.
Currently available is a one bedroom apartment, which is priced from £154,995 which would require a mortgage of £116,247 and a 5% deposit of £6,200 through FirstBuy. Alternatively, a two bedroom apartment is available from £194,995, requiring a mortgage of £146,247 and a 5% deposit of £7,800 through FirstBuy.
Anne concludes: “Due to demand FirstBuy is now only available on selected properties. I’d therefore recommend interested house hunters speak to our sales executives at Highfield Gardens sooner rather than later to avoid disappointment.”
To find out more about Highfield Gardens, visit taylorwimpey.co.uk.