Help to Buy an apartment in Winchester
Buyers could save more than £45,000 off the initial price of an apartment in Winchester with Help to Buy.
The Government-backed scheme is available at Redrow’s Abbotts Walk development. It offers those with a 5% deposit the chance to cut the cost of homeownership.
With Help to Buy a one-bedroom Lydgate style apartment can be snapped up for an initial outlay of £183,960. That’s £45,990 less than the full market value of £229,950.
The balance comes in the shape of an equity loan for 20% of the purchase price.
Julie Davies, area sales manager for Redrow Homes (South Midlands), commented: “Help to Buy is a great way for people to buy a brand new home at a price they can afford. One of the key advantages about the scheme is that it’s not just for first time buyers, but can be used by other purchasers too such as those starting out after a change of circumstances or empty nesters who want to downsize now that the children have moved out.”
Savings of around £11,500 should be enough for a deposit on a two-bedroom apartment at Abbotts Walk with Help to Buy. The customer will then need to arrange 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.
The remaining 20% 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.
The Lydgate enjoys a convivial open plan layout with combined kitchen, lounge and dining area that maximises the potential of the space available. The kitchen is well equipped with integrated appliances; while the bathroom enjoys quality fixtures and fittings.
For those who want somewhere larger, Abbotts Walk also offers a good choice of homes with two, three and four bedrooms.
Situated in Worthy Road in the popular Abbotts Barton area, the homes at Abbotts Walk enjoy a quiet leafy setting North East of the city, close to the River Itchen. In fact residents can follow a footpath from the development to the river bank and into the heart of Winchester, home to a wealth of amenities including high street stores and independent retailers.
Strong road and rail links mean the homes are well placed for commuting as London, Southampton and Portsmouth are all within easy reach. Both the capital and Portsmouth are around an hour away by train, while passengers can be in Southampton in less than 30 minutes.
To discover how you could move to a brand new home with Help to Buy, visit Abbotts Walk, open daily from 10am to 5.30pm. For more information see redrow.co.uk/abbotts.
