Crest Nicholson launches new show home

This weekend (18th/19th April) award-winning housebuilder Crest Nicholson will be launching its brand new four bedroom Mayford show home at its development in Churchdown, Gloucestershire.

The event will also see the launch of the HomeBuy Direct scheme at Churchdown, which has been launched in conjunction with the Government, meaning that a range of affordably priced, highly-specified homes are now available for first-time buyers who are struggling to get a foot on the property ladder.

With HomeBuy Direct homebuyers can own 100% of a new Crest Nicholson home for just 70% of the purchase price. Home owners contribute a minimum of 70% of the full purchase price in the form of a deposit and mortgage, with Crest Nicholson and the Homes and Communities Agency providing equal equity loans for the remaining amount, which are interest free for the first five years. After that homebuyers will pay 1.75% interest, rising annually by the Retail Price Index (RPI), plus 1%.

The equity loan is repaid when you sell your home, where homebuyers must repay the same percentage of the proceeds of the sale as the initial equity loan; alternatively purchasers can increase their equity share in their property after 12 months. Therefore, purchasers who take advantage of the HomeBuy Direct scheme at Churchdown in Gloucestershire can secure a three bedroom home costing £174,950 for as little as £122,465.

Laura Osborne, Sales Manager at Crest Nicholson, said: “This Government initiative is fantastic news for those first-time buyers who are keen to get on the property ladder but who are struggling with affordability. Despite the downturn, people still need homes and appreciate that it is better to invest monthly in a share of their own home rather than paying a landlord’s mortgage. This additional help for first-time buyers is really going to open up the market in the local area so we encourage them to come and visit us and to speak to one of our sales advisors to see which excellent homes are on offer to them at Churchdown.”

Also on offer to homebuyers looking to live in Churchdown is the brand new four bedroom, two storey Mayford show home, which offers a large living room and kitchen/dining area with French doors leading out to the garden, in addition to a master bedroom with en suite.

Crest Nicholson at Churchdown is a stylish collection of 47 homes, consisting of two bedroom coach houses and three, four and five bedroom homes. Living in Churchdown offers homeowners a peaceful and relaxed way of life, a host of local amenities, in addition to good schools and great transport links to the motor way and the bustling cities of Cheltenham and Gloucester.

Prices at Churchdown start from £174,950 for a three bedroom home ranging to £364,950 for a four bedroom detached home with double garage.

For more information, log on to Crestnicholson.com.