Help to Buy boost for homebuyers in Telford
Buyers looking for a new home in Telford could find that their money goes further thanks to Help to Buy.
Available at Trenchwood Gardens, the Government-backed scheme could enable first time buyers to achieve their dreams of homeownership much sooner than they anticipated or see families move to a property that gives them the space they need to grow.
To secure a home under the initiative they will need to have a 5% deposit and a 75% mortgage. The remaining 20% share will be covered by an equity loan.
Pauline Turnbull, sales director for Redrow Homes (Midlands), explains: “We’ve previously seen sales success at Trenchwood Gardens with FirstBuy, but the introduction of Help to Buy has sparked increased demand as it can help so many more people – not just first time buyers. The number of enquiries we have had from those who are keen to find out more about the initiative demonstrates that people want to move here, but perhaps thought they wouldn’t be able to afford to. Our friendly, experienced sales team are guiding them through the scheme, making it as simple and straight forward as possible.”
Trenchwood Gardens offers a choice of three and four-bedroom homes, some of which are almost ready to move into.
Current prices start from £142,995 for a three-bedroom Broadway style property. It can be purchased for an initial outlay of £114,396 with Help to Buy. The Help to Buy price includes a deposit of £7,150 and a mortgage for £107,246. The remaining share is covered by the equity loan.
“There are lots of advantages of using Help to Buy to purchase a new home, not least the low deposits required. Customers will only need to apply for a mortgage for 75% of the property’s value and should be able to access some of the better interest rates, usually reserved for those with lots of savings,” Pauline adds.
“Crucially, the loan is interest free for five years and can be repaid when the customer has more funds available or when they resell. All of this should add up to lower monthly repayments than if someone was to buy on the open market.”
Featuring designs from the sought-after New Heritage Collection, the homes at Trenchwood Gardens look traditional from the inside. Step inside and they’re bright and modern with a high standard specification as standard. Kitchens are stylish, yet practical with integrated top brand name appliances and tall cabinets and extra wide drawers that offer plenty of storage; while bathrooms and en-suites boast quality fixtures and fittings, with an exclusive tile range.
To find out how Help to Buy could help you become the proud owner of a brand new home, visit Trenchwood Gardens in Sommerfield Road, open daily from 10am to 5.30pm.
For more information, see redrow.co.uk/trenchwood.
