First time buyers spring into action in Sandwell
Just six two bedroom designer apartments remain at Victoria Gardens in Smethwick by Taylor Wimpey West Midlands – but they’re all within reach of first time buyers benefitting from a host of financial initiatives.
This popular development of 68 premier homes on the site of the old Cape Hill Brewery is now offering the ‘EasyStart ‘ shared equity scheme, whereby purchasers can buy a new home and pay as little as 85% of the full price straight away.
A 5% deposit is paid on exchange of contracts and a further 80% is paid via their prearranged mortgage on completion. Taylor Wimpey will loan the remaining 15%, secured by a legal charge, with no rent or interest to pay for up to 10 years.
This means that a two bedroom ground floor ‘Grosvenor’ apartment with ensuite is available for just £79,896 via ‘EasyStart’ and that’s a saving of £14,099. Plus, it means you own 100% of the home from day one, for just 85% of the price.
The leading housebuilder has also introduced a scheme which invites family and friends to help purchasers with the cash deposit they need to buy a new home - and in return Taylor Wimpey will pay them a guaranteed return of 5% per annum for five years on the sum invested. ‘Family and Friends Advantage’, as the scheme is known, is available on deposits of up to 20% of the purchase price.
Additionally, Taylor Wimpey can readily assist first time buyers via a much needed ‘Deposit Match’ scheme. This timely initiative sees Taylor Wimpey match a buyer’s deposit, up to 10% of the purchase price, via an interest free loan over 10 years.
And, last but not least, buyers can also take advantage of a gifted 5% deposit from Taylor Wimpey, which allows for the all-important 85% loan-to-value mortgage that some buyers still need to proceed.
Sales & marketing director, Jan Titley, explains: “We literally have something for everyone and timely incentives like these are just our way of giving something back and keeping the market ticking over as recovery continues - because a reassuring cost cutting package like this can make the difference between staying put and missing out, or making that dream move at the optimum time.”
This well planned development fully embraces the Government’s urban design vision of ‘continuity’ (a place where public and private space are clearly distinguishable), ‘commutability’ (somewhere that’s easy to get to and move through), ‘adaptability’ (a place that can easily change) and ‘diversity’ (somewhere with variety and choice).
Mrs Titley adds: “Why struggle with high rents when you can afford to purchase your own home at a substantially reduced rate. Many of our buyers are surprised to find that with initiatives like these they can actually become a homeowner – and we can put them in touch with an independent financial advisor and a team of recommended solicitors to further smooth the way.”
Other last availability at Victoria Gardens is made up of a third floor ‘Grosvenor’ apartment at just £96,995, plus four slightly larger two bedroom ‘Carlton’ apartments with parking space from only £98,995. The sales centre is open seven days a week from 10am – 5pm.
