New homes in Cambourne with 5% deposit

Taylor Wimpey is offering first-time buyers the chance to secure selected homes at its Churchill Gardens development of property for sale in Cambourne, Cambridgeshire, with a 95% mortgage.

First-time buyers can take advantage of an exclusive scheme that paves the way for them to secure a 95% mortgage on a brand new home at Churchill Gardens, Taylor Wimpey’s sought-after development of houses for sale in Cambourne.

Taylor Wimpey’s Take5 deal, with The Cambridge Building Society, is being offered on a choice of beautiful new houses to buy in Cambourne at the leading housebuilder’s development nine miles west of Cambridge.

It means that one lucky buyer can now secure a three-bedroom property in Cambourne, priced from as little as £194,995, with a deposit from just £9,750 compared with the UK average of £28,770*.

The new mortgages for qualifying Cambourne properties are available for two, three and five-year fixed terms and have interest rates of between 5.99% and 6.89%.

Deputy Prime Minister Nick Clegg has stated that first-time buyers had been ‘frozen out’ of the market by the lack of mortgages. The Council of Mortgage Lenders estimates that the average age of a first time buyer stepping onto the property ladder without financial help from family is 36. This is largely due to the size of deposit now required by lenders, which has trebled in the last 10 years.

Stacy Dornan, Regional Sales and Marketing Director for Taylor Wimpey, says: “It’s been particularly hard for first-time buyers to find affordable mortgages, and saving up the required deposit for most products on the market can seem completely out of reach.

“However, our new 95% mortgage slices thousands of pounds off the initial sum buyers need to save to secure their first home, and those with a deposit of just £9,750 should get in touch as soon as possible and take advantage of this outstanding opportunity to step onto the property ladder today.”

Mark Smitheringale, Head of Sales and Marketing at The Cambridge Building Society says: “The lack of support for first-time buyers has been in the media spotlight for some time and is an issue which The Cambridge Building Society is taking a closer look at. As a first step, we are hoping to help first-time buyers in Cambridgeshire to get on the property ladder with the Taylor Wimpey Take5 deal.”

One of the houses available through the Take 5 deal at Churchill Gardens is the three-bedroom ‘Wessex’, priced from just £189,995 and available with a deposit from just £9,750.

At the heart of this stylish home is a spacious open-plan lounge/dining room opening through French doors to the private rear garden, with a contemporary fitted kitchen and handy guest cloakroom located off the entrance hallway.

Upstairs, the landing leads to an en-suite master bedroom with attractive Juliet balcony, two further bedrooms and a main bathroom, while two allocated parking spaces can be found outside.

Cambourne, nine miles west of Cambridge, is a brand new community which will offer a range of local amenities within walking distance of Churchill Gardens, including three primary schools and a nursery, a library, a multi-purpose sports centre, playing fields and play areas, a multi-denominational church, a hotel and a medical centre.

The community is also home to a selection of high street shops, a supermarket with petrol station, a choice of restaurants, a pharmacy, a dry-cleaners and a convenience store. The Cambridge Belfry Hotel is a short walk from the development and offers a swimming pool and leisure facilities, and a wider range of amenities can be found in the surrounding villages and nearby Cambridge.

For commuters, the A14 is a short drive from Churchill Gardens, with the M11 also within easy reach. St Neots railway station is seven miles from Upper Cambourne, putting the capital just an hour away by train.

To find out more about the Take5 deal available with Taylor Wimpey at Churchill Gardens, home-seekers can visit the Sales Information Centre, located off Sterling Way, Cambourne, and open seven days a week from 10am to 5pm (Mondays 1pm to 5pm).

* Halifax First Time Buyer Review (December 2010).