Easystart scheme bypasses need for big deposits

The recent news* that a first time buyer now has to raise around £35,600 to afford a home worth £142,500 is certainly daunting, but not the reality for first time buyers using Taylor Wimpey’s Easystart shared equity scheme, available at its Sylvan Heights development in Exeter.

The introduction of Easystart** makes getting onto the property ladder much more achievable as house hunters can own 100% of their new home for just 85% of the price - all they need is a 5% deposit. Meaning at Sylvan Heights you’d only have to find a deposit of £9,000 to buy plot 38, a two bedroom ‘Furze House’ apartment, which is priced at £152,995 using the scheme (full market price is £179,995).

Janine Davey, regional sales and marketing director for Taylor Wimpey Exeter, said: “It’s no surprise with research quoting high figures such as £35,600 that first time buyers are put off from even thinking about buying a new home, as for many saving that amount is totally unrealistic. That’s why we want to make it clear to first time buyers that there are options available to them that don’t require savings that stretch into the tens of thousands. Easystart provides a realistic route into home ownership and one that doesn’t have to break the bank. If you’re a first time buyer keen to get onto the ladder why not pay us a visit to find out more?”

The housebuilder’s Easystart scheme enables purchasers to own 100% of their dream new home for 85% of the price now on selected properties. Homebuyers simply pay a five per cent deposit to secure the property and pay 80% of the purchase price via their prearranged mortgage. The home is 100% yours from day one!

There is currently a selection of two bedroom apartments and three, four and five bedroom homes available with prices starting from just £169,995. Two stunning new show homes have just opened and perfectly demonstrate the lifestyle on offer at Sylvan Heights.

The development also caters for commuters, with the M5 and A30 trunk roads readily accessible and Exeter’s international airport just a few miles away, for travel further afield.

For more information on the properties available, visit the sales office from Thursday to Monday between 11.00am and 5.30pm.

*according to a survey by Nationwide
**subject to terms and conditions on selected plots