Renters could buy for less in Kent
Would-be home owners who feared they had been priced out of the property market will be delighted to discover that a Government-backed help scheme is still available on a few of the final homes at The Paddocks.
Award-winning housebuilder Redrow has just 11 homes remaining, including some two and three-bedroom properties that are ideal for people who want to break the cycle of renting and purchase their own home for a fraction of the cost through HomeBuy Direct.
Eligible home owners can take advantage of this Government backed scheme until the end of September, taking out an equity loan for up to 30% of the purchase price on selected Redrow properties at the popular development, making home ownership cheaper and easier to achieve.
Just three miles from Ashford town centre, where the high speed train link to London takes just 37 minutes, The Paddocks is perfectly placed for commuters.
Beryl Williams, area sales manager for Redrow Homes (Eastern), said: “At Redrow we understand how easy it is to get caught in the rental trap, spending ‘dead money’ on rent when you really want to save towards buying a home of your own. With this in mind, we’re delighted we’ve been able to extend HomeBuy Direct to selected homes at The Paddocks, but time is running out for people who want to benefit, as the scheme will end in September.
“It’s the ideal way for first time buyers to step on to the property ladder as the loan is interest free for the first five years and hopefully they won’t need a large cash deposit. Purchasers may even find that monthly mortgage repayments work out cheaper than the rent would be for an equivalent property.”
Two-bedroom homes are currently available from £159,950 so, with a 30% equity loan through HomeBuy Direct, purchasers could find themselves catapulted onto the property ladder for an initial outlay of just £111,965.
The two-bedroom ‘Calder’ house features two double bedrooms, a fitted kitchen / dining room, separate lounge and a ground floor cloakroom. In addition, like all Redrow homes, it boasts the latest statement-making kitchen designs and a modern bathroom with white suite and quality fixtures and fittings.
Under HomeBuy Direct first time buyers, key workers and people re-entering the property market after a relationship break-up are among those who can apply for these homes – provided their annual household income is less than £60,000.
Customers will own 100% of their home from day one – but only have to pay between 70 and 85% of the purchase price. They can start purchasing the remaining share in instalments after just 12 months.
Ashford itself boasts two shopping centres with many popular high street stores, as well as a designer outlet centre on the outskirts of the town centre, a popular market, restaurants, pubs and hotels.
There’s easy access to the M20, connecting to the M26 and M25 and, for those who like to travel further afield, the town enjoys fast links to the continent via the Eurostar at Ashford International station.
Three-bedroom homes are priced from £174,950 to £199,950, with some still available to purchase through HomeBuy Direct.
For further details, visit the development, which is open daily from 10am to 5.30pm, or log on to: redrow.co.uk
