More good news for buyers in Tonbridge
It's now even easier for first time buyers to afford a brand new home on the banks of the River Medway in Tonbridge thanks to help from Redrow.
Recent research by Halifax already suggests that it’s 4% more affordable to buy a home in the South East* than to rent one. However, Redrow’s ‘easi:buy’ incentive can bring the initial cost of owning a two-bedroom home at Cannons Wharf down by more than £31,000.
This means homebuyers could be even better off because they won’t have to borrow as much, should not need a large deposit and should be offered improved mortgage interest rates.
Through the easi:buy scheme, purchasers can put off paying 15% of the initial asking price of selected apartments and, with a 5% deposit they need only apply for a maximum 80% loan to value mortgage,
The deferred portion doesn’t need to be repaid until they have more funds available or come to resell.
Beryl Williams, area sales manager for Redrow Homes (Eastern), explains: “Many people find themselves in the cycle of spending money on rent when they really want to own a home of their own. However, the latest news from Halifax, coupled with the many benefits of our easi:buy scheme, means those who choose to buy in Tonbridge could be better off than they thought.
“It’s ideal for first time buyers and others who may be struggling to secure a mortgage as, even with just a 5% deposit, they’ll hopefully have access to some of the more favourable interest rates normally reserved for those with large deposits or substantial equity in an existing home.”
They’ll have up to 10 years to repay the 15% deferred portion – but customers will own 100% of their home from day one. It means two-bedroom apartments are currently available for an initial outlay from £176,758 (full price £207,950).
“And unlike renting, where you don’t have an asset to show for your hard earned cash at the end of the day, if you purchase a home at Cannons Wharf and property prices increase, you could potentially find that the value of your investment has increased in years to come,” Beryl added.
A choice of completed two-bedroom apartments are available and offer young professionals, couples and singles contemporary open plan living options, as well as modern fitted kitchens, with floor to ceiling units and top name appliances, plus sleek bathrooms with pristine white suites and quality fixtures and fittings. A show home is open to view.
A one-bedroom apartment is also available without easi:buy for £159,950.
Cannons Wharf offers commuters an ideal retreat from the hustle and bustle of city life, within easy reach of the M25 and M20 via the A21, providing great links to London and the coast.
Tonbridge town centre, with all its amenities including shops, cafes, restaurants and supermarkets, is just a short walk away; as is Tonbridge train station, which has direct links to London in around 45 minutes.
For more information visit Cannons Wharf on Medway Wharf Road, where the sales office and show home are open daily from 10am to 5.30pm.
* Figures from Halifax