Government scheme opens up Swindon property market

This weekend (28th/29th March) award-winning housebuilder Crest Nicholson will be launching HomeBuy Direct at its Mayfair Walk development in Braydon Mead, Swindon. The scheme, which has been launched in conjunction with the Government, means that a range of affordably priced, highly-specified homes are now available for first-time buyers who are struggling to get a foot on the property ladder.

With HomeBuy Direct homebuyers can own 100% of a new Crest Nicholson home for just 70% of the purchase price. Home owners contribute a minimum of 70% of the full purchase price in the form of a deposit and mortgage, with Crest Nicholson and the Homes and Communities Agency providing equal equity loans for the remaining amount, which are interest free for the first five years. After that homebuyers will pay 1.75% interest, rising annually by the Retail Price Index (RPI) plus 1%.

The equity loan is repaid when you sell your home, where homebuyers must repay the same percentage of the proceeds of the sale as the initial equity loan; alternatively purchasers can increase their equity share in their property after 12 months. Therefore, purchasers who take advantage of the HomeBuy Direct scheme at Mayfair Walk in Braydon Mead, Swindon can secure a two bedroom apartment costing £99,950 for as little as £69,965.

Laura Osborne, Sales Manager at Crest Nicholson, said: “This Government initiative is fantastic news for those first-time buyers who are keen to get on the property ladder but who are struggling with affordability. Despite the downturn, people still need homes and appreciate that it is better to invest monthly in a share of their own home rather than paying a landlord’s mortgage. This additional help for first-time buyers is really going to open up the market in the local area so we encourage them to come and visit us to speak to one of our sales advisors to see which excellent homes are on offer to them at Braydon Mead.”

Mayfair Walk in Braydon Mead is an attractive collection of two-bedroom apartments and two, three and four-bedroom houses located in the desirable neighbourhood of Braydon Mead in Swindon. All homes at the development have been carefully designed in order to maximise light and space and feature a contemporary open plan layout in tune with modern living.

Braydon Mead is close to the Marlborough Downs and the Cotswolds, yet is within easy reach of the amenities of Swindon. The area also features good primary and secondary schools, sports facilities, a community centre, health centre, shops and a play area, making it the perfect location for families. The development also has excellent transport links to the rest of the country, including the M4, and has access to the central train station in Swindon, which has regular trains to Reading and London, among other destinations.

Prices at Braydon Mead start from £99,950 for a two bedroom apartment ranging to £235,950 for a four bedroom Townhouse. For more information about the development and HomeBuy Direct, visit the Sales and Marketing Suite which is open from 10:00am to 5:00pm daily.