Secure a high spec home with a low deposit in Basildon
Aspiring homeowners could make a bold leap onto the housing ladder in Basildon with just a fraction of the average first time buyer deposit.
Research from Halifax suggests that first time buyers actually favour semi-detached homes over apartments.
The good news for those who’ve set their sights on a brand new home at St Nicholas Mews is that selected properties are eligible for Help to Buy equity loans. It means they can be secured with only a 5% deposit.
For example, a four-bedroom detached Cambridge, on the market at £474,995, could be secured for an initial outlay of £379,996. The lower price includes a deposit of £23,750 and £356,246 mortgage. The remaining 20% or £94,999 is covered by the equity loan.
Kerry McCoubrey, sales director for Redrow Homes (Eastern), said: “Research suggests that the average deposit paid by a first time buyer now stands at around £34,000, but just two thirds of that could be enough to secure a brand new four-bedroom home at St Nicholas Mews with Help to Buy.
“The scheme is a great way for buyers to make their money go further as they should only need a 5% deposit and 75% mortgage. Crucially the loan for the remaining share is interest free for five years and can be repaid when they have more funds available. It could enable those starting out in life to purchase a home to grow into rather than out of so that they don’t have to move when they’re ready to start a family. But it’s not just for first time buyers, those who’ve sold their existing property subject to contract could also use Help to Buy to make their next move.”
The Cambridge is a spacious family home, offering 1,382 sq ft of accommodation. It includes a lounge to the front, with open plan kitchen and dining room that spans the width of the rear of the property. A handy utility to keep the washer and dryer out of the kitchen, plus a convenient cloakroom complete the ground floor.
Upstairs, the master bedroom benefits from an en-suite, leaving the family bathroom to serve the remaining three bedrooms.
Inspired by the architecture of the Arts & Crafts era, the external design of all of the properties will be very traditional; while inside the homes will enjoy a high specification designed to meet the demands of modern living.
Purchasers can customise their new home from the start using the My Redrow area of the housebuilder’s website to select the finish of everything from the kitchen cabinets to the bathroom tiles and even the light switches.
St Nicholas Mews, on Ballards Walk, is in an area well-served by schools, while the nearby Festival Leisure Park offers fun for all the family.
The town centre is within walking distance, along with the superb new Basildon sports village and the magnificent Gloucester Park. The area also benefits from strong transport links with trains from Basildon or Laindon stations whisking passengers to London Fenchurch Street in around 40 minutes.
For more information, visit the show home, open Thursday to Monday from 10am to 5.30pm. For more information see redrow.co.uk/stnicholas.
