Help to Buy boosts new home sales in Countesthorpe

Two thirds of customers at Thorpe Meadows, Countesthorpe, have used Help to Buy equity loans to make buying a new home easier to afford.

Redrow has seen an increase in demand from prospective purchasers following the introduction of the scheme and since November things have really taken off.

Pauline Turnbull, sales director for Redrow Homes (Midlands), says: “Help to Buy has played a massive part in the success of Thorpe Meadows and in recent months eight out of 12 customers bought a brand new home using the scheme. Both first time buyers and movers have cut the cost of homeownership by taking out an equity loan for up to 20% of the asking price and with only a relatively small deposit of around 5%.

“Customers have often heard about Help to Buy but don’t always appreciate just what a difference it can make to them. Our friendly, experienced sales team are happy to guide people through the buying process, answering their questions and making it as simple and straight forward as possible.”

Thorpe Meadows offers a choice of three, four and five-bedroom homes from the sought-after Heritage Collection of traditional looking homes with period-style features. Prices start from £199,995 for a three-bedroom Letchworth with open plan kitchen / dining room and separate lounge. A curved staircase leads to the first floor, where the master bedroom benefits from an en-suite while the remaining two bedrooms share the family bathroom.

This stylish home can be snapped up for an initial outlay of £159,996 with Help to Buy. The balance is covered by the equity loan, which can be paid back when the homeowner has more funds available or comes to resell.

“The incredible thing about Help to Buy is that the equity loan is interest free for five years – an offer people won’t get from mortgage lenders. Plus because those buying in this way will typically only need to take out a mortgage for 75% of the property’s value they should be able to access better mortgage rates,” Pauline adds.

Despite the lower price with Help to Buy, all new homes at Thorpe Meadows benefit from Redrow’s high specification with well equipped kitchens including top brand name appliances, sleek modern bathrooms and en-suites and a host of energy efficient measures.

To find out more about the homes and the help available, visit Thorpe Meadows, on Leicester Road, open daily from 10am to 5.30pm. For more information, see redrow.co.uk/thorpe.