Crest Nicholson announces recession busting incentives

Figures released today by the Office of National Statistics confirm that the UK has now officially entered a recession. For housebuilders, who have long been coping with the wider effects of an economic downturn, the news underlines the need for further measures to be implemented to help increase the flow of lending to the residential sector.

As Sandra Dixon, Sales and Marketing Director at Crest Nicholson South West, says:

“The availability of credit to households and businesses has been tightening in recent months, but Government plans to increase the volume of net mortgage lending will hopefully start to stimulate the market and do much to reinvigorate residential property transactions. Interest rates may be at all time low, but banks need to start passing on these cuts if potential homebuyers are to see any benefit.

“At our Churchdown, Eastington and Dursley developments in Gloucestershire, we are actively seeking to assist purchasers with a targeted range of measures designed to help ease some of the financial burden. We’ve already seen a steady rise in enquiries, and our priority remains to facilitate a steady flow of transactions, all of which will be key in terms of re-stabilising the housing market.”

Financial incentives on offer include EasyBuy*, where purchasers have an opportunity to secure a stylish new home for just 75% of the asking price. EasyBuy is not a shared ownership scheme and purchasers will own 100% of their new property from day one. Unlike similar schemes, with Crest Nicholson’s EasyBuy there is absolutely no rent to pay or interest accrued on the outstanding 25% of the property’s equity for the first five years. The deferred amount is paid back at 25% of the property’s open market value at any time up to resale or after 10 years, whichever is sooner. In addition, purchasers who take advantage of this attractive scheme will also benefit from legal and survey fees paid up to £1,000.

In addition to EasyBuy there are other financial schemes available including a Part Exchange Scheme, which offers homebuyers the chance to move in for free as survey fees, stamp duty and legal fees, as well as agents fees and HIPs on the buyer’s current property will be paid for by Crest Nicholson. Also, for those with a property to sell the assisted moving package, Smooth Move, allows Crest Nicholson to help with the whole selling process of their existing property.

Crest Nicholson’s Churchdown development consists of 47 sensitively created properties, ranging from a two bedroom coach house, which is available for just £139,950 to a four bedroom detached home for £399,950.

Set on the edge of the beautiful Cotswolds, the sensitively created Eastington development of 37 properties consists of three, four and five bedroom homes, each with their own private garden and parking. Prices start at £209,950 for a three bedroom home.

Crest Nicholson’s Dursley development is a stylish collection of two, three and four bedroom homes in an attractive village-style setting nestling in the Cotswold countryside. Four bedroom homes are currently available at this development from £150,000 when bought under the EasyBuy scheme.

For more information, log on to Crestnicholson.com.

* EasyBuy is available on selected plots only