Tonbridge buyers given a lift by Help to Buy

Almost half of buyers at Waterside Reach in Tonbridge have boosted their borrowing power with Help to Buy and this Saturday (April 18) aspiring homeowners will be able to find out more about the scheme.

The Redrow development is proving popular with 40% of the apartments now sold, including the entire first phase.

Some 45% of the apartments have been purchased using the Government-backed Help to Buy equity loan scheme. Keen to ensure would-be homeowners make the most of the valuable incentive, Redrow is hosting a special Help to Buy event this Saturday.

Kerry Jenkins, sales director for Redrow Homes (South East), explains: “Demand for apartments in this part of Tonbridge remains high and on average we’re clocking up a sales rate of around 11 a month. Location and specification have played a key role in the success of the development, but Help to Buy has also contributed, accounting for around 45% of sales. And while many people have seized the opportunity to boost their borrowing power, some still think it’s too good to be true. With that in mind we’re holding a special event to guide customers through the scheme.

“We’ll be explaining that with Help to Buy the initial cost of an apartment could be reduced by up to 20%, plus they should only need a relatively small deposit of around 5%.”

Waterside Reach offers a choice of one, two and three-bedroom apartments. Current prices start from £204,995 or an initial outlay of £163,996 with Help to Buy. The lower price includes a 5% deposit and 75% mortgage. 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.

Despite the low price, all of the apartments 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.

To discover more about buying an apartment at Waterside Reach with Help to Buy, visit the development this Saturday (April 18). For the latest availability and pricing, see redrow.co.uk/waterside.