Gladedale tackles Chelmsford property prices

Property prices in Chelmsford have increased by 19 per cent* in the last year and with the average price of an apartment costing £164,478*, first-time buyers are finding it increasingly difficult to get onto the property ladder.

In a bid to tackle the higher than average property prices in the south-east, Gladedale Home Counties has unveiled a new initiative designed to help first-time buyers in Essex take that first step to owning their own home.

Gladedale Home Counties is giving buyers the opportunity to buy the home of their dreams by taking advantage of its exclusive Shared Purchase scheme that allows the buyer to pay 75% of their chosen home at the outset and pay the remaining 25% in 10 years time, or before if they decide to sell.

At 28 East, this means that a one bedroom apartment costs just £112,463 – that’s £52,015 less than the prices of an average apartment in Chelmsford.

This exclusive scheme is ideal for home buyers who are working and are able to raise a mortgage - or in some cases have a lump sum - but who could not afford 100% mortgage repayments on their ideal property.

It may sound complicated, but in effect it’s actually very straightforward. The 25% becomes an interest free loan which is re-paid at the market value at the end of the 10 year period. And although you only take out a mortgage for 75% of the price of the property, you still own 100% of your home.

Sales at 28 East in Chelmsford have been moving steadily since its launch earlier this year, with only one bedroom apartments remaining. To give buyers a real feel of what a new one bedroom apartment at 28 East looks like, Gladedale has created a stunning new show apartment.

With Gladedale’s Shared Purchase initiative homes at 28 East are available now from £112,463 instead of £149,950 for a one bedroom apartment and with the opening of a new show apartment, there has never been a better time to visit the development.

Set within the popular county of Essex, the town of Chelmsford lies 31 miles northeast of London and is handy for all the major London airports, with Stansted approximately 25 minutes' drive via the A130/A120.

All homes have been finished to an exceptionally high standard down to the final details. Kitchen are fitted with a contemporary design with accents of stainless steel, while all bathrooms feature white vanity units in a stylish design, featuring quality Hansgrohe chrome taps.

Debbie Gallier, sales manager for Gladedale Home Counties, believes this scheme is the way forward for home buyers to purchase property at a younger age.

She said: “People are simply putting off getting a foot on the property ladder as they are disheartened by the cost of properties. This scheme is an ideal solution for many new home buyers. It means they can afford the home they want in the area they want now, without having to save for years in advance.”

The marketing suite at 28 East is open daily from 10am to 5pm.

For further information visit 28-east.co.uk.

*Figures from bbc.co.uk