Act now to snap up a stylish new home in Stoke
First time buyers in Stoke should act now if they want a stylish new home at a fraction of the normal cost.
With HomeBuy Direct those starting out in life can save almost a third off the normal price of a brand new home. The Government-backed scheme is available on selected Redrow properties at Water’s Edge in Hanley.
Elaine Mounsey, sales manager for Redrow Homes (NW), said: “HomeBuy Direct is for many people the only way they can realise their dreams of homeownership. And while first time buyers understandably want to take their time as they make that all-important first step onto the property ladder they could soon find out they’ve left it too late. Not only are there are only a limited number of properties available with HomeBuy Direct at Water’s Edge, but to take advantage of the scheme the transactions must be legally complete by the end of September.
“Potential purchasers needn’t worry though, as Redrow’s experienced sales team and our HomeBuy agent will guide them through the application process and make everything as simple and straight-forward as possible.”
The valuable help is available on properties ranging from one-bedroom apartments to three-storey four-bedroom homes.
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 one-bedroom apartment at Water’s Edge, normally costing £74,995 could be snapped up for just £52,496.
The balance can be paid back when they have more funds available or when they come to resell. Crucially, the loan is interest-free for the first five years.
The scheme is open to those with an annual household income of under £60,000. Eligible customers include first time buyers and those starting over after a relationship break up.
Growing families who can prove they need extra space will be delighted to discover that a four-bedroom home, on the market at £172,995, could be theirs for an initial outlay of just £122,496.
“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 Stoke need to fly the parental nest or escape the rental trap,” Elaine 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.”
For more information about the homes available at Water’s Edge, visit the development, open daily from 10am to 5.30pm.
* cmlorg.uk
