Buy a home of your own for less than £60,000
Those who dream of owning their own home should act fast if they want to snap up a stylish, affordable apartment near Chorley.
Cedar Walk at Buckshaw Village is one of a diminishing number of places where first time buyers are still able to defer paying almost a third of the price of a brand new home.
With HomeBuy Direct a Redrow apartment can be purchased for an initial outlay of just £59,500, which means the mortgage repayments may be lower than the rent for a similar sized property.
To help first time buyers picture themselves living in the style and comfort of Cedar Walk, Redrow has opened the doors to a new show apartment.
Lesley Myers, area sales manager for Redrow Homes (Lancashire), explained: “Buying a home is a big commitment, particularly if it’s your first, and we want to make things as easy as possible for our customers. Our friendly, experienced sales team and HomeBuy agent will guide purchasers through the home buying process so that setting up home is a pleasure rather than a chore. And because we understand the importance of viewing a property before buying we’re opening a new show apartment so that potential purchasers can appreciate the layout and quality finish we offer as standard.
“But those who want to snap up one of our stylish, affordable apartments must hurry as HomeBuy Direct funding is limited and they must complete the purchase of their new home by the end of March.”
HomeBuy Direct reduces the overall size of the mortgage required and, more importantly, the improved loan-to-value ratio (LTV) means lenders generally ask for a much smaller deposit.
It means savings of £2,975 plus a mortgage of £56,525 could be enough to secure a one-bedroom apartment at Cedar Walk. The remaining share of the £85,000 full market value is covered by an equity loan jointly funded by Redrow and the Homes & Communities Agency.
“The apartments at Cedar Walk offer a fantastic opportunity for those starting out in life to make that crucial first step onto the property ladder. Thanks to HomeBuy Direct the competitive prices are reduced even further so that the mortgage repayments compare favourably to rental values and may even work out cheaper,” Lesley added.
“Yet despite the low price, the apartments boast well equipped modern kitchens and sleek bathrooms with quality fixtures and fittings. And because we know that setting up home can be expensive we’re Redrow is even offering to include carpets in selected apartments and paying buyer’s legal fees.”
For more information, visit redrow.co.uk.
