Lifeline for first time buyers in Nuneaton
Savings of around £5,000 could be enough to secure a brand new home in Nuneaton thanks to FirstBuy.
Redrow has secured additional funding under the FirstBuy initiative for its Eliot’s View development in Tuttle Hill. Thanks to the valuable help, eligible customers could save 20% off the initial purchase price and should only need a relatively small deposit.
Pauline Turnbull, sales director for Redrow Homes (Midlands), explains: “We’ve already had sales success with FirstBuy at Eliot’s View, where it’s helped several people onto the property ladder. We’re now sharing the good news with those who thought they’d missed out – FirstBuy is back and thanks to an equity loan could help them to escape the rental trap or fly the parental nest to a home of their own. They should only need a relatively small deposit of around 5%, which could be as little as £5,000, compared with the 20% lenders generally require.”
Current availability at Eliot’s View includes a choice of two, three and four-bedroom homes.
Prices start from £98,995 on the open market. Eligible customers could take out an equity loan for up to 20% of the price through FirstBuy, reducing their initial outlay to £79,196.
The remaining £19,799 is covered by the equity loan, which is jointly funded by Redrow and the Homes and Communities Agency. The loan is interest free for five years and can be repaid when the home owner has more funds available.
“If you’re a first time buyer with an annual household income of less than £60,000 you should qualify for FirstBuy. To find out more about how the scheme could help you buy your first home, visit Eliot’s View, where our friendly, experienced sales team will guide you through the application process, making it as simple and stress-free as possible,” Pauline added.
Homes at Eliot’s View are inspired by the architecture of the Arts & Crafts era. They look traditional from the outside but are bright and modern inside.
Kitchens are well equipped with essentials including oven, hob and fridge freezer; while bathrooms and en-suites enjoy quality fixtures and fittings.
Eliot’s View is close to Nuneaton town centre and within commuting distance of Hinckley and Atherstone thanks to easy access to the A444 and A5.
Some of the homes have Coventry Canal to the rear and others overlook a wildlife conservation area. Redrow have also created a lake from the former quarry, which is now an attractive feature.
To discover how FirstBuy could help you onto the property ladder visit Eliot’s View, where the show homes, open daily from 10am to 5.30pm.
For more information, see redrow.co.uk/eliots.
