Give your family room to grow in a new home in Bracknell
Families and other home buyers could save more than £70,000 off the initial price of a four-bedroom home in Bracknell with Help to Buy.
The Government-backed scheme is available at Redrow’s Kensington Place, part of the wider Jennett’s Park community. It offers those with a 5% deposit the chance to cut the cost of homeownership.
With Help to Buy a four-bedroom Stratford style property can be snapped up for an initial outlay of £278,920. That’s £70,030 less than the full market value of £348,950.
The balance comes in the shape of an equity loan for 20% of the purchase price.
Julie Davies, area sales manager for Redrow Homes (South Midlands), commented: “Help to Buy is a great way for people to buy a brand new home at a price they can afford, as it reduces not only the level of deposit required but the size of the mortgage too. It’s ideal for those who need more space to accommodate their growing family but perhaps don’t have substantial equity in their current property as it could allow them to make that leap.”
With Help to Buy customers should be able to secure a new home with a relatively small deposit of around 5% of the purchase price; for the Stratford that works out at around £17,500. The client will then need to arrange a mortgage for 75% of the property’s value, which should give them access to some of the better rates usually reserved for those with hefty savings or substantial equity in the home they’re moving from.
The remaining 20% share is covered by the equity loan, which is interest free for five years and can be repaid when the customer has more funds available or when they resell.
Alternatively, those who can afford the monthly mortgage repayments at full market value but perhaps don’t have a large cash deposit or substantial equity in the home they’re moving from could opt to take out a 95% mortgage through the NewBuy initiative.
Proving that Redrow has a solution for everyone’s individual circumstances, those with a house to sell could secure a buyer through Redrow’s Mastermove service. The award-winning housebuilder may even take a customer’s property in part exchange for a brand new home.
The four-bedroom Stratford features an open plan kitchen and dining room, plus utility, a separate lounge and a downstairs cloakroom. Upstairs, the master bedroom benefits from an en-suite, with the remaining three bedrooms sharing the family bathroom.
To find out more about the homes and the help available, visit Kensington Place, where the sales office and show homes are open daily from 10am to 5.30pm.
For details of the latest availability and pricing, see redrow.co.uk/kensington.
