New scheme opens up Surrey property market

First time buyers in Surrey struggling to get a footing on the property ladder have been thrown a much needed lifeline. This weekend (9th/10th May) award-winning housebuilder Crest Nicholson is preparing to launch HomeBuy Direct at its Abbots Croft development in Addlestone.

From 10am to 5pm this Saturday and Sunday, first time buyers in the area will be given the opportunity to take advantage of the scheme where they will be able to purchase a stylish apartment or three-bedroom town house for only 70 per cent of the price.

HomeBuy Direct is a brand new initiative set up in conjunction with the Government designed to be a ‘stepping stone’ to home ownership. With the scheme, first time buyers are able to secure a brand new home at Abbots Croft for just 70% of property’s asking price upfront, making an attractive one bedroom apartment at the development priced at £149,950, an affordable £104,965 with HomeBuy Direct and a three-bedroom town house priced at £274,950, an affordable £192,465.

Under HomeBuy Direct, purchasers will own 100 per cent of their new home from day one and the remaining 30 per cent of the property’s market value is funded by an interest free* “equity loan”, jointly financed by Crest Nicholson and the Government. The equity loan is not repaid for five years or until the property is sold, which ever is sooner. After 12 months, purchasers even have the opportunity to buy some, if not all of the property’s remaining equity at market value.

Greg Ketteridge, Managing Director, Crest Nicholson (South) Ltd. commented: “HomeBuy Direct is a fantastic scheme that will give first time buyers the purchasing power to invest in a home of their own. We anticipate that HomeBuy Direct will really open up the market in this area particularly to those who have been finding it difficult to get the funding required to match local property prices. This weekend, new home buyers will be able to find out more about their purchasing options and will be able to make the most of the more affordable properties in the market.”

Abbots Croft is an impressive collection of stylish and contemporary one and two bedroom apartments, as well as larger three and four bedroom houses, all featuring allocated private parking. Perfectly located between Chertsey and Weybridge and within easy reach of many boutiques, wine bars, cafes and restaurants, Abbots Croft sits at the heart of a thriving new community that is at the forefront of modern living.

Inside the homes are fresh and modern, with all of the homes featuring open plan living/dining areas and kitchens that are perfectly equipped for convenience and functionality. These come complete with stylish units, worktops and brushed steel Bosch appliances, including an electric oven and four burner gas hob. Meanwhile, the bathrooms contain white sanitaryware by Roca and chrome Hansgrohe mixer taps and fittings.

Prices at Abbots Croft start from £104,965 with HomeBuy Direct for a one bedroom apartment and £192,465 for a three-bedroom town house. For further information on Abbots Croft and HomeBuy Direct, visit crestnicholson.com/AbbotsCroft.