95% mortgages available on new homes in Wakefield

New homes at Scholars Gate in Wakefield passed their initial test with flying colours when the first home sold straight away.

Now developer Redrow is anticipating further success, especially with the availability of the Government backed NewBuy initiative, which allows purchasers to take out a 95% mortgage.

Located in Ruskin Avenue, Scholars Gate is the latest place to feature designs from Redrow’s sought-after New Heritage Collection. It boasts a range of three and four-bedroom family homes with current prices from £199,999 to £309,999.

Patsy Aicken, sales director for Redrow Homes (Yorkshire), explains: “We knew from our database of people who had expressed an interest in Scholars Gate that there was a strong demand for new homes in the area and have been delighted with the response. One customer reserved their preferred property virtually straight away and we’re also working with several others who are keen to move here.”

One of the ways Redrow can help is with NewBuy, which is aimed at anyone buying a home worth up to £500,000.

Patsy explains: “Although NewBuy has been in the public eye, a lot of people assume it is only for first time buyers; this isn’t the case. We’ve found some of the strongest interest has come from second time movers who are looking to move up the property ladder. They might have limited equity in the home they’re selling and don’t want to wipe out all their savings on a hefty deposit. NewBuy could be the answer”

With a three-bedroom semi-detached Letchworth at £199,999, savings or equity of around £10,000 could be sufficient to secure a mortgage for a brand new home at Scholars Gate.

Currently being sold ‘off plan’, the homes will look traditional from the outside. Inside they will be bright and modern with well-equipped kitchens and stylish bathrooms and en-suites.

“We’re encouraging customers to visit our other developments including Saxon Court in Sherburn in Elmet and Wheatley Chase in Halifax to appreciate the layouts, quality and finish of our homes. They can also take a virtual tour of show homes across the country via our broadband television channel Redrow.TV,” Patsy added.

“However, we do hope to have a fully furnished show home available to view at Scholars Gate in August.”

The homes at Scholars Gate will enjoy easy access to Wakefield town centre with an array of shopping and leisure facilities. The area boasts excellent motorway links across the north of England, making the new homes a great base for commuters, while nearby Outwood Station offers rapid trains to Leeds in just 15 minutes.

The marketing suite is open Thursday to Sunday from 10am to 5.30pm.

For more information, visit redrow.co.uk.