Why rent when you can buy cheaper at Merchant's Quarter
Owning a home might seem like a distant dream for many but with buying now 14% more affordable than renting*, first time buyers could find themselves on the property ladder quicker than they thought.
According to a recent Halifax report, a 39% fall in average monthly mortgage rates since 2008 means that buying a property is now significantly cheaper than letting.
Not only that, award-wining housebuilder Crest Nicholson is making it even easier for first time buyers by offering its EasyBuy scheme* at its popular Merchant’s Quarter development in Stevenage. Merchant’s Quarter – which is proving particularly attractive to London commuters – allows new purchasers to own 100% of their new home but only pay 80% of the price now. Through the scheme there is no rent to pay or interest accrued on the outstanding 20% of the property’s equity for the first five years.
Jenny Pennells, Marketing Manager for Crest Nicholson South, said: “Value for money is vitally important to first time buyers. Buying now offers considerably lower monthly rates than renting, so it’s a crucial time to take advantage of our EasyBuy scheme and jump on the property ladder. Merchant’s Quarter has a great selection of one and two bedrooms apartments available to purchase through the scheme, and with its ideal location for city commuters, the development is the perfect choice for brand new homes at affordable prices.”
Situated on the tree lined avenue of Sish Lane, Merchant’s Quarter is within walking distance of Stevenage’s affluent Old Town and has a range of stylish new homes. The apartments are expertly finished to the high quality associated with Crest Nicholson. Kitchens come complete with modern units, worktops and brushed steel Bosch appliances, including an electric oven, hob and chimney hood. Bathrooms include elegant Hansgrohe fittings and each property also comes with a parking space.
The development is also a stone’s throw away the nearby King George V playing fields which are perfect for walking, jogging or even just a chance to relax in the sunshine. Also, just a short drive away is the larger Fairlands Valley Park, voted as one of the UK’s top 15 free visitor attractions, which includes many activities such as climbing, hiking and a range of water sports for the more adventurous.
Transport links from Merchant’s Quarter are excellent with junction seven of the A1 (M) within easy reach from Stevenage, whilst the surrounding towns of St Albans, Luton, and Welwyn Garden City are also within close proximity. The mainline station is just over a mile away offering easy routes into London with Kings Cross taking approximately 27 minutes. For international travel, Luton Airport is just eight miles away making business travel and even short European breaks more accessible.
Apartments are currently available to purchase with Crest Nicholson’s EasyBuy scheme starting at £121,560 (full price £151,950) for a two bedroom apartment. For more information, to view the show apartment or take a virtual tour, visit the Sales and Marketing suite, which is open five days a week from Thursday to Monday 10am - 5pm.
*Halifax research report, 2011
