Help to Buy a brand new home in Halling
Springing on to or up the housing ladder is proving easier than expected for Halling buyers thanks to the offer of Help to Buy equity loans.
Launched last April, the Government-backed scheme is proving invaluable to buyers, helping them stretch their budgets to make their money go further.
In the South East 42% of those who bought a Redrow home in the last year did so with the aid of a Help to Buy equity loan. Among them are several homeowners at St Andrews Park in Halling, where buyers have found that the 20% loan can save them tens of thousands of pounds off the initial purchase price.
Kerry Jenkins, sales director for Redrow Homes (South East), says: “Kent buyers have really embraced Help to Buy as a means to buy their first home or move up the property ladder. Many of those who have bought a property at St Andrews Park have found that it’s made a massive difference to their purchasing power and that they have either been able to buy sooner than they anticipated or move to a bigger, better, brand new home that gives their family room to grow.
“Using the equity loan scheme customers are able to reduce the initial cost of homeownership by up to 20%. This means they will typically only need a 5% deposit, plus a 75% mortgage from their chosen lender. Crucially the loan is interest free for five years.”
The scheme was introduced by Government to kick-start the housing market and help those who could afford a mortgage but didn’t have a large cash deposit or substantial equity in a previous property.
St Andrews Park features a range of three and four-bedroom homes from Redrow’s sought after Heritage Collection.
Among the homes available is the three-bedroom Broadway with open plan kitchen and dining room, separate lounge, WC, under stairs storage and dedicated space for the washer and dryer to the ground floor. Upstairs, the master bedroom benefits from an en-suite with the remaining two bedrooms sharing the family bathroom.
The Broadway is priced from £274,995. Factor in Help to Buy and this reduces to £219,996 including a 5% deposit and 75% mortgage. The remaining 20% is covered by the equity loan.
Located on Formby Road, St Andrews Park enjoys excellent commuter links, with the M20 and M2 both around three miles away and London just 32 miles away. Trains from Halling station reach London in little over 45 minutes. The village itself has a Post Office and local shop while Bluewater Shopping Centre is just 13 miles away.
To find out more about the homes and the help available, visit St Andrews Park, open daily from 10am to 5.30pm. Alternatively, visit redrow.co.uk/st-andrews.
