NewBuy and 95% mortgages explained

Wigan homebuyers who want to know more about 95% mortgages are invited to join Redrow at College Court this Saturday (May 11).

From 11am to 4pm, visitors will be able to speak to friendly, experienced sales consultants about the NewBuy initiative.

They’ll be guided through the Government-backed scheme, which enables people to buy a brand new home with a 5% deposit and 95% mortgage.

Claire Jarvis, sales director for Redrow Homes (Lancashire), explains: “Many people have sufficient income to make monthly mortgage payments on the amount they wish to borrow; they just don't have the cash available to put down the large deposit demanded by many lenders. NewBuy offers those buyers a solution.

“Because it’s available on any new home up to £500,000, we’ve found that the product is particularly well suited to those who want or need to move house but only have limited equity in their current property. It can also help first time buyers with limited savings.”

There’s plenty for buyers to choose form at College Court as the development offers everything from two-bedroom apartments to four-bedroom detached family homes, with prices from as little as £94,995.

Some of the properties are now ‘build complete’ and simply waiting for the finishing touches that help transform a house into a home.

The readymade homes include the three-bedroom Brecon and the four-bedroom Shrewsbury.

Savings of around £8,500 could be enough to secure the Brecon with NewBuy; while the Shrewsbury can be purchased with a deposit of £9,400.

Those who buy a brand new home at College Court will benefit from purchasing a property that’s been designed and built with pride.

Featuring designs from the sought-after New Heritage Collection, the homes look traditional from the outside but are bright and modern inside. The high specification offered as standard includes stylish, yet practical kitchens that are well equipped with integrated top brand name appliances; while bathrooms and en-suites enjoy quality fixtures and fittings, with an exclusive tile range.

Located off Robin Park Road, College Court is centrally placed for local amenities including supermarkets, a retail park, cinema, sports facilities and restaurants; while Wigan’s Grand Arcade shopping centre boasts a range of popular high street stores, cafes and bars. The homes are also within easy reach of the M6 motorway and rail network for commuting.

To find out how NewBuy could help you buy a brand new Redrow home with a 5% deposit and 95% mortgage, visit College Court this Saturday (May 11).

For more information about the homes available, see redrow.co.uk/collegecourt.