Take the fifteen minute mortgage challenge in Barton Seagrav

Mortgage approvals are on the up and buyers could find out if they qualify for a loan for a new home in Barton Seagrave in a matter of minutes.

The latest figures from the Bank of England show that mortgage deals for house purchases are at their highest since February 2008.

And at Castle Fields this weekend (October 12/13) visitors are invited to take Redrow’s ‘15 Minute Mortgage Challenge’ to see if they can qualify for a loan in the time it takes to drink a cuppa.

New homes mortgage specialists will be on hand to review customers’ finances, assess how much they can afford to borrow and guide them through the buying process, including explaining incentives such as Help to Buy.

“There’s been so much good news about the housing market in recent months with everyone from mortgage lenders, surveyors and economists pointing to a recovery,” says Alexis Bissett, area sales manager for Redrow Homes (South Midlands).

“The increase in mortgage approvals, combined with historically low interest rates and reports from the Halifax that home loans are at their most affordable in more than a decade is great news for buyers. This weekend we’ll be explaining just how quick and simple buying a new home can be.

“With the help of our new homes mortgage specialists we’ll help would-be customers to establish how much they could afford to borrow based on their savings, income and outgoings. They could find out if they qualify for a mortgage in as little as 15 minutes- that’s about the time it takes to drink a cup of tea or coffee.”

Current prices at Castle Fields start from £199,950 for a four-bedroom Kenilworth style property, which can be snapped up for an initial outlay of only £159,960 using Help to Buy. The lower price includes a 4% customer deposit of £9,997 and a 76% mortgage for £149,963. The remaining share is covered by a 20% equity loan, which is interest free five years.

All of the homes enjoy a high specification as standard including well equipped kitchens, bathrooms and en-suites with quality fixtures and fittings and a host of energy saving measures.

Located off Polwell Lane in the popular village of Barton Seagrave, the new homes at Castle Fields enjoy a tranquil setting with allotments bordering one side of the development and nearby Wicksteed Park and its arboretum offering plenty of opportunities to enjoy the great outdoors.

The setting is ideal for families as there’s a choice of schools within walking distance and two children’s play areas will form part of the new neighbourhood.

There are two supermarkets within easy reach and plenty of opportunities to indulge in retail therapy in Kettering town centre, which is around a mile away.

Trains from Kettering offer frequent services to London St Pancras in around an hour.

Visit Castle Fields this weekend (October 12/13) to take Redrow’s 15 Minute Mortgage Challenge.

For more information about the homes and the help available see redrow.co.uk/castlefields.