NewBuy and 95% mortgages made easy

With the chance to own a stylish new home with only a 5% deposit, now could be the time to make a move to a brand new home in Liverpool.

This Saturday (September 22) Redrow is holding simultaneous events at Cressington Heath and The Avenue at Summerhill Park to explain how NewBuy could help people move on in or move on up with a simple to arrange 95% mortgage.

Claire Jarvis, sales director for Redrow Homes (Lancashire), explains: “People may have heard that 95% mortgages are back but not realise what it means for them. During our NewBuy event we will have mortgage specialists on hand to answer buyers’ questions and dispel some of the myths about the scheme and who can take advantage of the valuable help.

“For example, there’s a misconception that it’s only for first time buyers when that’s not the case – existing home owners can benefit too, especially if they don’t have lots of savings or substantial equity in the home they’re moving from.

“At a time when most lenders require deposits of around 20% of the purchase price, NewBuy is the ideal solution for those who have sufficient income to make monthly mortgage payments on the amount they wish to borrow; they just don't have the cash available to put down a large sum up front.”

At both Cressington Heath and The Avenue at Summerhill Park there’s a good range of three and four-bedroom homes, including designs from the sought-after New Heritage Collection.

Thanks to NewBuy, customers should only need a relatively small deposit of around 5% of the purchase price to get on the housing ladder or move up to somewhere larger.

For example, a down payment of around £9,000 could be enough to secure a three-bedroom Faygate style home at Cressington Heath, on the market at £179,995.

Or those with an extra £500 in savings could find they’re able to buy a three-bedroom Letchworth over at The Avenue at Summerhill Park.

Designed with modern family living in mind, homes at both locations boast well equipped kitchens with integrated top brand name appliances including oven, hob, microwave and fridge freezer, while bathrooms and en-suites enjoy quality fixtures and fittings.

They’re also easy to manage and efficient to run, which means those who move from and older property should have lower fuel bills.

To find out how NewBuy could help you move to a stylish new home with only a 5% deposit, visit Cressington Heath or The Avenue at Summerhill Park this Saturday (September 22).

For more information, visit redrow.co.uk/cressington.