'Bank of Mum & Dad' gets help from Crest Nicholson

Throughout March, award winning housebuilder Crest Nicholson is supporting parents who want to help their children onto the property ladder with a 10% investment return* at its Clarion Gate development in Chelmsford, Essex.

Many first time buyers need some financial help to get onto the property ladder, and more often than not this comes from parents or family member’s savings. The scheme at Clarion Gate offers a fantastic incentive for parents who want to help their offspring, but are also keen to see a return on their investment.

Jackie Fullerton, financial advisor from Sacre Associates comments, “The investment return on offer from Crest Nicholson at Clarion Gate is a great way to help first time buyers onto the property ladder. Often parents gift their children the deposit on their first home but that way lose out on the interest they would have earned whilst their money was in savings. With the current base rate at such a low level, the 10% investment return on offer makes buying a property at Clarion Gate much more of a sound investment.”

Clarion Gate comprises an elegant collection of 153 traditional and contemporary styled one and two bedroom apartments and two, three and four bedroom houses. In tune with the local surroundings, when complete the scheme will be laid out across two complimentary, yet distinctive areas called The Village Green and The Avenues built around a newly formed village green.

Terry Holmes, Director at Beresfords Residential Estate Agents in Chelmsford comments, “The market in this area improved significantly in 2009. We are now seeing a lack of property and a lot more buyers, a complete reversal of what we had a year or so ago, so it’s a really great time to buy. Clarion Gate has proved immensely popular mainly because of the perfect blend of property styles and location. There’s a wide variety ranging from apartments to spacious family houses with a ‘village green’ as a centerpiece and with Chelmsford nearby yet open countryside just down the road, it couldn’t be better placed.”

Annette Cole, Sales and Marketing Director at Crest Nicholson Eastern comments: “Without the help of their parents, many young people do struggle to get together a deposit, especially in the current climate. At Clarion Gate we wanted to offer an incentive for parents looking to help their children get onto the property ladder, where they can also get something back in return. The 10 per cent return is guaranteed for two years on the amount put in by the parents.”

Residents at Clarion Gate benefit from the redeveloped Marconi Athletic and Social Club, which will include a new sports centre, incorporating six tennis courts, three squash courts, short mat bowls and snooker facilities, as well as a bar, conference facilities, and a fully equipped gymnasium.

Nearby Chelmsford Station provides fast and efficient services to London Liverpool Street taking approximately 35 minutes. Alternatively, the A12 is just a short drive from the scheme and provides direct routes south to the Capital and Colchester to the north.

Prices at Clarion Gate start from £162,500 for a one bedroom apartment. For further information about buying a home at Clarion Gate, visit the Crest Nicholson website at: crestnicholson.com

* This incentive is capped at 5% of the property value