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95% mortgages available on final family home in Doncaster

30th March 2012 Print
Redrow Homes

Owning the final Redrow home in Doncaster is now even easier as buyers may only need a 5% deposit.

The Government-backed NewBuy initiative is available at Danum St Giles, giving homebuyers the option of a 95% mortgage.

It’s open to customers spending up to £500,000 on a newly built home, whether they’re a first time buyer or already own a house. But with just one home yet to be sold at Danum St Giles, those who want to take advantage of the scheme should act now to avoid disappointment.

Patsy Aicken, sales director for Redrow Homes (Yorkshire), commented: “NewBuy will help people who want to take their first step onto the property ladder as well as those who already own a home but are looking to ‘trade up’, so it’s a great time to make that longed-for move to Danum St Giles.

“In our experience, mortgage availability – or the lack of it – and pressure to find a high deposit has been the biggest hindrance to people who want to buy a home. The scale of the NewBuy initiative, the fact it has the Government’s weight behind it and major lenders are on board, should resolve this issue.

“We know that people want to buy our homes at Danum St Giles, and now, hopefully, more of them will have the means. Because of the limited availability potential purchasers should act fast to avoid disappointment, or the extra interest being inspired by NewBuy could mean they find they’ve left it too late to snap up one of our stylish new homes.”

The final home available at Danum St Giles is a four-bedroom Stratford design from Redrow’s sought-after New Heritage Collection. It’s built, ready to move into and competitively priced at £184,950.

Lenders participating in the NewBuy scheme will provide a 90-95% mortgage for buyers who meet their qualifying criteria; the lenders will be protected by a mortgage indemnity guarantee (MIG) jointly funded by Redrow and the Government.

“We’ll be working with designated lenders and will refer customers to our mortgage specialists for the financial advice they need. We’ll be making the process as simple, swift and straight-forward as possible,” Patsy added.

Alternatively, part exchange is available so those with an existing property to sell can enjoy a quick and easy move from old to new. With Redrow effectively acting as a cash buyer for the customer’s current home there’s no need to worry about securing a buyer or getting caught in a complicated chain and Redrow will take care of the estate agent’s selling fees.

To make an appointment to view the final home at Danum St Giles log on to

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Redrow Homes