Buy new to avoid over seven year wait
Calling all first time buyers! Getting on the property ladder is a lot easier if you purchase a new build property. A recent report from the House Builders Federation (HBF)* has shown that it takes first time buyers in the South East an average of seven years and five months to save for their deposit, compared to two years and ten months, a decade ago. However, by buying a new Taylor Wimpey home, purchasers can take advantage of a range of schemes and incentives which significantly reduce the size of the deposit needed, making it quicker and easier to buy your first home.
At Taylor Wimpey Southern Counties’ development The Glaciers at Everest Park in Basingstoke, the award winning house builder is offering a wide range incentives designed to help purchasers make the move into a new home. The Government backed NewBuy scheme has seen an increase in the availability of 95% loan to value mortgages specifically for new build properties, meaning credit-worthy buyers may now only need to save a 5% deposit to secure their new home.
The Family & Friends Advantage Scheme is additional incentive available at this development to help first time buyers. If a family member or friend helps with the deposit for a loved one’s first home, they could earn 5% interest on their investment for five years.
Fiona Creed, regional sales and marketing director for Taylor Wimpey Southern Counties commented: “The idea that it takes first time buyers in the South East an average of over seven years to save for a deposit is extremely disheartening for many aspiring homeowners, but it’s not all bad news. One of the many advantages of a new build property is that we can offer the incentives and flexibility which allow potential purchasers to buy their new home with much lower deposits, significantly reducing the length of time it takes to get onto the property ladder.
“We’ve had a fantastic response to schemes such as NewBuy and FirstBuy; in fact in 2012 we supported 1,750 people across the UK buy a new home using the schemes. I’d urge anyone who wants to move but thinks they can’t afford the deposit to visit one of our developments today. Our experienced sales advisors will be able to talk you through the options and incentives available and you could be moving into your dream home before you know it.”
Taylor Wimpey Southern Counties is currently building a collection of new homes at their development The Glaciers at Everest Park in Basingstoke. The homes on offer range from three, four and five bedroom houses, with prices starting from as little as £215,000.
For further information on The Glaciers at Everest Park, visit the sales and marketing suite on John Hunt Drive, open Monday 1pm – 5pm and Tuesday to Sunday 10am – 5pm. Alternatively, log on to taylorwimpey.co.uk/theglaciers.
