Lifeline for first time buyers in Wrexham

With average house prices out of reach for first time buyers in 96% of UK towns it's harder than ever to get onto the property ladder* - but here's news of an incentive in Wrexham which could throw would-be home owners a much needed lifeline.

Selected properties at Redrow's Ty Newydd on Mold Road and Pentre Bach, Ruthin Road, can be bought now for an initial outlay up to 25% less than the usual price.

Using Redrow ‘easi-buy', a stylish two-bedroom apartment at Ty Newydd that would normally cost £121,000 can currently be snapped up for just £96,800 - that's 80% of the full price - with the balance not having to be paid for 10 years.

And at Pentre Bach, just 75% of the full price is needed to get hold of a two-bedroom Avon apartment that would normally cost £137,950. Using Redrow's deferred payment scheme it can currently be bought for just £103,450.

Patsy Aicken, sales director for Redrow Homes (North West), says: "According to the annual Halifax First Time Buyer Review, people taking their first step onto the property ladder cannot even afford to purchase a terraced property - traditionally the least expensive property type - in 71% of towns across the UK, so is it any wonder that so many young people are putting off that first step onto the property ladder?

"Now though, Redrow's ‘easi-buy' scheme is making home ownership more accessible to first time buyers in the Wrexham area; allowing them to own 100% of their home today whilst deferring a significant percentage of the cost to a time when they have more funds available.

"Not only will the customer legally own 100% of the property from the outset, they will not have to pay rent on the deferred element. And there's more good news in that the outstanding cost will reduce on a sliding scale if they repay it within the first three years.

"On a £137,950 property at Pentre Bach, for example, if they find themselves able to settle the 25% deferred payment within the first year they could potentially save nearly £14,000 on the overall property price."

Redrow's new offer is subject to terms and conditions. The deferred element is paid back at market value at the time of payment, which could go down as well as up.

Redrow ‘easi-buy' is the latest in a number of incentives offered by Redrow under the badge of ‘re:assure', all of them designed to make moving as easy as possible from the moment of first enquiry right through until after the customer has moved in.

It's available on selected properties at Ty Newydd and Pentre Bach, both of which offer a great choice of new homes, easy access to Wrexham town centre, local amenities, the surrounding Welsh countryside and nearby Chester, with commuter links further afield to Liverpool and Manchester.

For more details of two-bedroom apartments and three and four-bedroom homes currently available at Pentre Bach, and to find out more about Ty Newydd, which currently offers a selection of two-bedroom apartments and three-bedroom terraced and semi-detached houses, go to Redrow.co.uk.

For general information about Redrow, its new homes and the various help available through ‘re:assure' visit Redrow.co.uk.

* Statistics from the annual Halifax First Time Buyer Review.