First time buyers should hurry to Hayes Green
First time buyers can knock 20% off the cost of a brand new Redrow apartment in Cadishead, near Irlam.
The FirstBuy initiative is still available for a limited period on the highly successful Hayes Green development.
Anita Williams, sales director for Redrow Homes (NW), said: “Properties offered via FirstBuy must be build-complete by the end of this year and owned by the purchaser by March 31, 2013 at the very latest. Because the application process can take time it’s vital that would-be home owners apply sooner rather than later.
“Add to this the fact that the success of the scheme means that FirstBuy funding is in danger of running out in some areas and it’s even more important for savvy first time buyers to get their skates on.”
The good news is that FirstBuy is still available to reduce the initial cost of a two-bedroom apartment at Hayes Green, Cadishead, to as little as £94,396. The balance is covered by an equity loan, jointly funded by Redrow and the Government’s Homes and Communities Agency. The loan is interest free for the first five year.
There’s a double benefit for home buyers – because they’re applying for a smaller mortgage than usual they’ll need a smaller deposit, typically 4 or 5% of the price they’re paying, so less than £4,000 could be sufficient; and their monthly mortgage repayments will be lower too.
“They may well find that with FirstBuy it’s cheaper to own their first home than to rent a similar size property. And because we have some two-bedroom apartments that are built and ready to move into at Hayes Green, there’s plenty of time for would-be FirstBuy purchasers to beat the deadline,” Anita added.
FirstBuy is available to first time buyers and those returning to home ownership after a change of circumstances, eg. divorce or a relationship break-up, provided their annual household income is less than £60,000.
On the open market from £117,995 (FirstBuy price £94,396), the two-bedroom apartments include en-suite to master bedroom, fitted kitchen with integrated appliances and a separate laundry room / airing cupboard.
The development also features three and four-bedroom family homes with current prices up to £244,995. These can be easier to buy too with a 95% mortgage made available through the Government-backed NewBuy initiative.
“We have homes to suit all-comers and the wherewithal to help people own the home they want – for less,” Anita said.
The surroundings of Hayes Green are surprisingly semi-rural given that it’s only 10 miles away from Manchester city centre and the Trafford Centre is even closer. The developments borders open farmland but there are plenty of local amenities too, including shops, schools and a medical centre.
For more information on how NewBuy can play a part in your move to Hayes Green, visit redrow.co.uk.
