FirstStep launched on new homes at Locking Parklands
Househunters struggling to raise the funds needed to buy their next home in Weston-super-Mare are being offered a helping hand with the launch of St. Modwen Homes’ equity loan scheme at its Locking Parklands development on the former RAF Locking site, near Weston-super-Mare.
Named FirstStep, the scheme has been designed to rival the government’s FirstBuy initiative and will make it more affordable for house buyers to get onto and up the property ladder. Purchasers will own 100 per cent of their home for just 75 per cent of the price (made up of a 5 per cent deposit and 70 per cent mortgage) as St. Modwen Homes offers a loan of up to 25 per cent of the full purchase price.
Unlike the government’s initiative, FirstStep is not just available to first time buyers; it is also available to those looking to purchase their second home and downsizers. As long as the buyer intends to live in the property they will be considered for the scheme.
Under FirstStep, a beautifully designed four bedroom house at Locking Parklands can be purchased for just £172,125, making a 25 per cent saving off the £229,500 list price. Additionally, the five per cent deposit required on this property stands at just £11,475 – much lower than the national average which currently sits at around £25,000.
Neil Simpson, residential sales and marketing director at St. Modwen Homes said: “Being able to purchase a family sized home in such a scenic location as Locking Parklands with a deposit of as little as £11,475 is a huge advantage in the current property market.
“At St. Modwen Homes, it is our aim to provide a helping hand to people searching for a new property in the local area and whilst there have been many schemes launched nationally to help first time buyers get onto the property ladder, much less has been done to support those moving into their second or third home. Because of this, the decision was made to open up our FirstStep scheme to all househunters – whatever level of the property ladder they are at – meaning everyone can benefit from the savings that can be made.”
Homes can now be purchased under the FirstStep scheme in both phases at Locking Parklands, The Parkside and The Woodlands, with prices starting from £219,950 (£164,963 when bought with FirstStep) for a three bedroom semi-detached Maple design property. The Woodlands is currently under construction and when complete, will boast seven new house designs with three, four and five bedroom houses.
Set within large areas of open parkland, Locking Parklands boasts a beautiful selection of new houses and apartments designed to appeal to all ages from first time buyers, to families and those looking to downsize. The aim is for Locking Parklands to evolve as a genuine, sustainable community which will benefit from a planned school, library, leisure complex and shops – not to mention its close proximity to the seaside resort of Weston-super-Mare. The development is located just minutes from junction 21 of the M5.
All the homes at Locking Parklands have been built to Code for Sustainable Homes Level 4 which means they are much more cost effective and energy efficient whilst also helping the local environment. Designed with householders in mind, all the homes are light and spacious and have been built to the highest standard.
To find out more about the FirstStep scheme, visit lockingparklands.co.uk.
