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Getting on the property ladder in Edinburgh

27th August 2009 Print
Getting on the property ladder in Edinburgh With signs that more and more first time buyers are deciding now is the right time to buy, Redrow is hosting a timely open day where they can find out everything they need to know.

The first time buyer event is taking place at Optima, in Edinburgh, on Saturday, September 5.

As well as taking a look around the stylish view apartment, they will be able to speak to an independent financial adviser who can offer mortgage advice or chat to them about Redrow’s ‘easi:buy’ scheme, which enables them to defer up to 25% of the price of their new home, interest free for 10 years.

And, as if they weren’t already flying high, those who decide to reserve one of the contemporary Optima apartments following the event will receive two free BMI Baby flights to Europe when they move in to their new pad.

The past year has seen many first time buyers keeping a close eye on house price trends, waiting for the right time to buy. Now recent figures from the Council of Mortgage Lenders (CML) suggest many believe that time has come. There were 17,200 loans to first time buyers in June, up a massive 26% on May’s statistics. CML economist Paul Samter said: “Low interest rates and realistic selling prices have helped generate a welcome increase in transactions.”

Diana Newton, sales director for Redrow Homes (Scotland), comments: “With prices now at such affordable levels we are starting to see first time buyers re-enter the market. However, even if they have decided now is the time to buy, they may still need advice to get the best mortgage deal possible and find out more about the superb incentives we can offer them.

“With that in mind we will have an independent financial advisor at the event to guide them through all of their options. This includes our ‘easi:buy’ incentive, which could see them putting off paying 25% of the price to a time when they have more funds available.

“This is an unbeatable offer which, providing they have at least a five per cent deposit, should enable the buyer to obtain a mortgage on good terms. But because they are only financing 75% of the purchase price they should get a much better choice of good value mortgage deals.

“Quite simply, it’s an efficient and easy way to enjoy the luxury of owning one of our sought-after brand new apartments. A mortgage could even work out cheaper than the rent on an equivalent property and buyers will not be paying out ‘dead money’; they will be investing in a home of their own.”

Two-bedroom apartments at Optima are currently priced from just £124,995 – or an initial outlay of just £93,746 with easi:buy.

Each apartment features an open plan living / dining area and kitchen, pristine white bathroom suite and some bedrooms have fitted wardrobes. There is also access to landscaped gardens and on-site parking, while the apartment buildings feature audio entry security systems.

Optima has excellent public transport links to the city centre, with a regular bus service every 15 minutes and an hourly night bus.

For more information on how you can get onto the property ladder in Edinburgh drop in to the first time buyer event on Saturday, September 5, between 12pm and 4pm. There will also be a free prize draw for anyone who attends on the day to win an i-phone.

Alternatively log onto redrow.co.uk/developments/view/82.

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Getting on the property ladder in Edinburgh