Stylish but affordable haven for first time buyers

Redeham Homes highlights that it is becoming increasingly difficult for first time buyers to purchase a home, with figures from the Council of Mortgage Lenders showing that they need to borrow an average of £113,887, equivalent to 3.29 times their income. In addition, calculations by the RICS suggest that a first time buyer couple would need to save 81.8% of their annual income to raise the £32,784 required to cover a deposit, stamp duty and other associated fees.

However, first time buyers in the South East are able to take advantage of the affordability of Redeham Homes’ Milliners Place development in Luton, where one bedroom apartments start from only £130,000. In addition, Redeham Homes is offering a special incentive to help buyers take their first step on to the property ladder by paying purchasers 5% deposit along with stamp duty and legal fees.

Ann Fulker, Sales and Marketing Director for Redeham Homes comments: “It is becoming increasingly difficult for first time buyers to get on the property ladder, especially in locations that are within commuting distance of London. However at Milliners Place, we have had a considerable number of first time buyers, who have been attracted by the affordability and location of apartments. Now that our new range of incentives make these apartments even more affordable, we anticipate further interest from first time buyers.”

Milliners Place is the conversion of a former hat factory with the addition of three new buildings on Midland Road in Luton to create 119 luxurious one, two and three bedroom apartments. Redeham Homes has sensitively converted the building to retain the building’s original Georgian architecture, whilst creating stylish apartments that maximise the available space and light.

The apartments have been built to a high specification including a choice of kitchen designs incorporating an integrated stainless steel oven, extractor hood, fridge / freezer and washer dryer. Redeham Homes recognises that different purchasers prefer different apartment layouts to suit their lifestyles and so have created properties that have open plan, semi-open plan and separate kitchens.

The contemporary bathrooms include Roca Laura wall-hung white sanitaryware complemented by Grohe fittings, thermostatic showers and heated towel rails. To provide purchasers with an added level of style and luxury, a range of the apartments include en suite facilities to the principal bedroom.

A selection of the apartments benefit from balconies or terraces, whilst all residents have access to communal roof gardens. Private parking is also available at the development.

Milliners Place is ideally situated for residents to take advantage of the facilities and amenities that Luton has to offer. The Arndale Centre, which has over 120 shops, is within easy walking distance, whilst Luton offers a diverse range of restaurants, bars and leisure facilities. The town’s commuters can take advantage of the ThamesLink train service that provides direct routes to London’s King’s Cross with a journey time of under 35 minutes, whilst the proximity of Junctions 10 and 11 of the M1 provide easy access to both the North and South of England.

Prices for the remaining apartments at Milliners Place start from £130,000 for a one bedroom apartment and from £170,000 for a two bedroom apartment. For further sales information, visit redehamhomes.co.uk.