Vital help for first time buyers in Great Wyrley
With the chance to save 20% off the initial cost of setting up home, aspiring first time buyers in Great Wyrley could find they’re able to step onto the property ladder sooner rather than later.
FirstBuy is now available at Redrow’s Oakwood Grange development offering a welcome boost to first time buyers. Eligible purchasers will be offered an equity loan for up to 20% of the purchase price and should only need a relatively small deposit of 5%.
Pauline Turnbull, sales director for Redrow Homes (Midlands), explains: “Research from the Home Builders’ Federation suggests that it now takes 10 years to save for a deposit as people struggle to save while paying rent and bills. The good news is we’ve secured funding under the FirstBuy initiative at our Oakwood Grange development to offer vital help to those starting out in life. Under the scheme savings of around £7,000 could be enough to secure a two-bedroom home. It means aspiring homeowners should be able to escape the rental trap or fly the parental nest much sooner than if they were to buy on the open market.”
Oakwood Grange features a good range of two, three and four-bedroom homes.
Current prices start from £137,995 for a two-bedroom Evesham style property. Thanks to FirstBuy it’s available for an initial outlay of £110,396.
The outstanding balance is covered by an equity loan, 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.
To be eligible for FirstBuy customers must have an annual household income of less than £60,000 and be first time buyers or returning to the housing market after a change of circumstances.
“Our new homes are ideal for first time buyers as they include many of the essential white goods people are likely to need to purchase when setting up home. Kitchens are well equipped with integrated top brand name appliances such as oven, hob, microwave and fridge freezer; while bathrooms enjoy sleek modern suites and quality fixtures and fittings,” Pauline added.
“Another big plus is that you won’t be inheriting someone else’s decor but will be able to customise the property to your own tastes by choosing everything from the finish of the kitchen cabinets to the bathroom tiles.”
Located in Walsall Road, close to Cannock town centre, Oakwood Grange enjoys easy access to the M6, A5 and A34 and is well placed for commuting to Walsall and Wolverhampton.
To discover how Redrow could help you enjoy a quick and easy move from old to new, visit the show home, open daily from 10am to 5.30pm. For the latest availability and pricing, log on to redrow.co.uk/oakwood.
