Snap up a stylish new home in Suffolk
First time buyers in Suffolk should act fast if they want a stylish new home at a fraction of the normal cost.
Those starting out in life have the final opportunity to initially save almost a third off the normal price of a brand new Redrow home at Bramford Gardens, in Ipswich, with the help of a Government-backed scheme.
Beryl Williams, area sales manager for Redrow Homes (Eastern), said: “Making that all-important first step onto the property ladder can be tricky and first time buyers understandably want to take their time. However, time really is of the essence as not only is there limited availability with HomeBuy Direct at Bramford Gardens, but the transactions must be legally complete by the end of September.
“Would-be home owners needn’t worry though, as Redrow and our HomeBuy agent will take time to guide them through the application process and make everything as simple and straight-forward as possible.”
HomeBuy Direct customers can take advantage of a 30% equity loan, jointly funded by Redrow and the Homes and Communities Agency, enabling them to purchase the home of their dreams at a price they can afford.
It means a two-bedroom ‘Elmswell’ apartment at Bramford Gardens, normally costing from £110,950, could be snapped up for just £77,665. The balance can be paid back when they have more funds available or when they come to resell and, crucially, the loan is interest-free for the first five years.
The ‘Elmswell’ is an ideal first purchase. It features an open plan living, dining and kitchen area complete with contemporary floor to ceiling kitchen units and top name appliances. There are also two bedrooms and a sleek modern bathroom. A brand new home is also more energy efficient and easier to maintain than an older property and does not require any costly maintenance.
“With the Council of Mortgage Lenders* reporting that first time buyer mortgages are at a three-year low, HomeBuy Direct could be the boost would-be homeowners in Ipswich need to fly the parental nest or escape the rental trap,” Beryl commented.
“The CML data shows that getting a mortgage can be problematic for those who don’t have a large cash deposit. But with HomeBuy Direct purchasers should only need a relatively small deposit and to apply for a mortgage with a maximum loan-to-value of 70%. This will generally give them access to much improved mortgage interest rates.”
The scheme is open to those with an annual household income of under £60,000. Eligible customers include first time buyers, those starting over after a relationship break up or growing families who can prove they need extra space.
Visitors to Bramford Gardens will appreciate the surprisingly quiet, semi-rural surroundings of this development, tucked away behind Bramford Road and close to the River Gipping; yet it is only two miles from Ipswich town centre and all its amenities.
And good road and rail links from Ipswich make it a great base for commuters to places like Cambridge, Norwich and even London, which is just 75 minutes by train.
The development also features three-bedroom homes from £159,950.
Visit the development to view its fully furnished show home, which is open daily from 10am to 5.30pm.
* cml.org.uk