Help your family take their First Step on the property ladder
As the number of first time buyers turning to the bank of mum and dad to raise a deposit doubles in just five years, Redrow is offering to lend a hand in Tonbridge with its new First Step incentive.
Designed to make the transition to homeownership easier, First Step offers a gifted 5% deposit to customers whose parents or other family members contribute 10%.
Available at selected Redrow developments including Waterside Reach in Tonbridge it could be the lifeline that enables grown up children to finally fly the nest.
Kerry Jenkins, sales director for Redrow Homes (South East), explains: “Although more than a quarter of young adults aged 20 to 34 still live at home, their parents, or so called ‘full nesters’, are paying an average of £1,200 extra every year in household expenses**.“We’re encouraging parents to consider making a one off payment now towards their son or daughter’s deposit, which could save them money in the future. With our First Step initiative if a customer’s parents chip in 10% towards their deposit, we’ll add another 5%. Thanks to this extra help more first time buyers could soon be enjoying the independence that comes with owning their own home.”
Based on a two-bedroom apartment at Waterside Reach, priced at £ £239,995, the 10% parental contribution would be £23,999 with Redrow paying an additional 5% which works out at £11,999.
Apartments at Waterside Reach boast Redrow’s high specification as standard including kitchens that are well equipped with integrated top brand name appliances, bathrooms and en-suites with sleek stylish suites, plus quality fixtures and fittings throughout.
Close to the River Medway, Waterside Reach enjoys a prime location in the heart of Tonbridge.
There are shops, bars and restaurants within walking distance and, with journey times to London Bridge of around 35 minutes, it’s an ideal base for commuters.
For details of the latest availability and the various move making incentives, including First Step, visit the marketing suite on Medway Wharf Road, or see redrow.co.uk/waterside.
