First time buyer market remains strong for Stamford
Despite a reported drop in house prices; headlines suggesting new homes are still way out of reach for first time buyers continue to dominate.
Lack of affordability, high mortgages and suggestions that FTBs are typically spending eight years saving for a deposit has done little to restore the nation’s faith in the housing market.
However, developer Stamford Homes seems to be bucking the trend – with figures showing that since July 2010, almost a third of its new home customers have been first time buyers. And over the past seven months, 332 of all Stamford Homes inquiries have been from potential buyers registering their interest.
Sales and marketing director Steve Garton said: “While some national reports suggest a 40 per cent rise over the last year in potential buyers looking to rent because they cannot afford to buy, we are experiencing a different picture.
“Our developments are built in sought-after locations close to the town centres and other amenities, and offer a variety of new homes that combine affordability with carefully thought out incentives to help arguably the most vulnerable house buying sector.”
Steve added: “In fact, a new report published a few days ago puts Peterborough in the top 10 places in the UK to buy instead of rent – which is further good news for our city-based developments.”
Stamford Homes currently offers a number of incentives which allow the customer to buy a new dream home, without the burden of finding a huge cash deposit. One of the most popular schemes is EasyStart.
Helping to secure that dream home at a reduced cost, EasyStart allows you to pay an initially reduced 85 per cent price for your new home yet own 100 per cent of it.
Simply reserve the home of your choice and Stamford Homes will pay the remaining 15 per cent by means of a 10-year loan.
In addition, Stamford Homes’ Connections Service allows FTBs and other homehunters to register their interest, as well as receiving tailored help and guidance on incentives from the developer as part of the process.
Among the many first time buyers to snap up a new dream home in recent months is Josh Kann, a national account manager for the importation of fresh produce.
Josh saved around £10,000 through a five per cent gifted deposit scheme that enabled him to buy a trendy three-bedroom townhouse at the Welland Park development in Stamford.
He said: “Without the incentive it is doubtful that I would have been able to afford such a wonderful house of my own. Stamford Homes took away all the hassle of the home buying process and were very thorough and prompt in answering any questions I had.”
Stamford Homes is currently building around the region, with developments in Cambridgeshire, Lincolnshire, Leicestershire and North East Lincolnshire. Visit stamford-homes.co.uk for more details.
