Help is at hand at Blakenham Park

Increased confidence in the property market has led to a rise in the number of first time buyers hoping to benefit from lower prices, and a report from the Council of Mortgage Lenders, has revealed that eight out of ten receive help in raising their deposit from their parents. But what happens if your parents cannot help you to raise the money?

One new homebuyer found help at Crest Nicholson’s Blakenham Park development in Ipswich, with the government backed HomeBuy Direct scheme.

After leaving home at 16 and travelling around the world, Lynsey Wilson (24), began a job as an outdoor education lecturer at Otley College, in Suffolk, and decided to settle in the county. After renting for eight years, Lynsey was desperate to get onto the property ladder but struggled to save up much of a deposit whilst paying rent.

On learning about the HomeBuy Direct scheme at Blakenham Park, Lynsey discovered that she could afford a two bedroom coach house at the development for just 70% of the price and jumped at the chance to buy her first home.

Lynsey comments, “I had been trying to get onto the property ladder for the past two or three years, since deciding to stay in Suffolk, but with paying rent after getting back from travelling I just couldn’t get enough of a deposit together for the type of house I was looking for in the locations I wanted to buy in. When I learned of the HomeBuy Direct scheme available from Crest Nicholson it was like a dream come true, I could finally afford my perfect property and it’s in a fantastic location both for work and socialising.”

HomeBuy Direct is a Government backed initiative aimed to help those finding it hard to buy their own home. The scheme offers buyers 100 per cent ownership of their new home for as little as 70 per cent of the purchase price. The remaining 30 per cent is paid for by way of two equity loans from the Homes and Communities Agency and Crest Nicholson, both of which are interest free for the first five years, and are re-payable upon selling the property*

Annette Cole, Sales and Marketing Director at Crest Nicholson Eastern Ltd comments, “Lynsey is the perfect example of the type of buyer HomeBuy Direct is set up to help. Although trying to get into the property market by herself, raising a deposit is not easy if you don’t have financial backing. With HomeBuy Direct at Blakenham Park, first time buyers are able to take their first steps onto the property ladder and with our friendly and helpful sales advisors on hand, buying that first property is made as easy as possible.”

Crest Nicholson’s development at Blakenham Park comprises two bedroom apartments and two and three bedroom houses. The attractive properties have been cleverly arranged in a spacious series of curving crescents and leafy courtyards with communal landscaped squares. The development offers excellent road and rail links via the A14, A12 and direct rail services to London from Ipswich station run every 15 minutes.

Prices at Blakenham Park start at £103,500 (£72,450 with HomeBuy Direct) for a two bedroom apartment to £157,500 (£110,250 with HomeBuy Direct) for a three bedroom property. For more information, visit crestnicholson.com/BlakenhamPark.