Help to Buy boost for Nuneaton homebuyers

Buyers in Nuneaton have discovered that owning a brand new home is easier to afford thanks to Help to Buy.

The Government-backed scheme offers customers the chance to take out an equity loan for up to 20% of the purchase price. It’s been an instant success at Redrow’s Eliot’s View development.

Pauline Turnbull, sales director for Redrow Homes (Midlands), explains: “We’ve had a brilliant response to the introduction of Help to Buy across the region. We’d experienced sales success at Eliot’s View with previous schemes such as FirstBuy, but Help to Buy seems to be even more popular. We’ve already secured four reservations under the scheme and we are also working with other potential purchasers who recognise that the Government is offering a fantastic opportunity to buy a brand new home at an affordable price through Help to Buy.”

Under Help to Buy customers with a 5% deposit will be able to take out an equity loan for up to 20% of the purchase price. They will then only need a mortgage for 75% of the property’s value, which should give them access to some of the better rates usually reserved for those with hefty savings or substantial equity in the home they’re moving from.

Eliot’s View offers a good choice of properties, ranging from two-bedroom apartments to four-bedroom detached family homes. Prices start from as little as £98,995 on the open market or an initial £79,196 with Help to Buy.

Some of the properties, including a four-bedroom Oxford are almost ready to move into.

Available from £199,995, it can be purchased for an initial outlay of £159,996 with Help to Buy. The initial outlay includes a deposit of £10,000 and a mortgage for £149,996. The remaining share is covered by the equity loan. The loan is interest free for five years and can be repaid when the customer has more funds available or when they resell.

Those who buy a brand new home at Eliot’s View will benefit from purchasing a property that’s been designed and built with pride.

Featuring designs from the sought-after New Heritage Collection, the homes look traditional from the outside but are bright and modern inside. The high specification offered as standard includes stylish, yet practical kitchens that are well equipped with integrated top brand name appliances; while bathrooms and en-suites enjoy quality fixtures and fittings, with an exclusive tile range.

To discover more about Help to Buy visit Eliot’s View, where the show homes, open daily from 10am to 5.30pm.

For more information, see redrow.co.uk/eliots.