City commuters reap the benefits of living at Merchant’s Quarter
Lately is seems first time buyers need all the help they can get to join the property ladder, but thanks to Crest Nicholson’s latest incentives at its Merchant’s Quarter development in Stevenage, one couple have reached the first rung quicker than expected.
Carly Ward and Carl Howes, both 24, took advantage of not one, but two schemes at Merchant’s Quarter and are now the proud owners of a contemporary two bedroom apartment situated on the tree-lined avenue of Sish Lane. The commuter hotspot enticed London worker Carly and her boyfriend with its EasyBuy* scheme for first time buyers along with the handy ‘Recommend a Friend’ offer.
A Senior Buyers Clerk at Harrords, Carly explained: “We already had our eyes on the new apartments at Merchant’s Quarter but after visiting a friend that already lived there, we were so keen to look around that our viewing was brought forward by three weeks!”
Having been introduced by their friend Emma Pike, Carly and Carl were able to take advantage of Crest Nicholson’s ‘Recommend a Friend’ scheme, receiving £1,000 off their purchase price as well as their friend receiving a cheque for the same amount.
Carly continued: “After a year of renting, we moved back home to save money, but after talking through the EasyBuy scheme with the sales team, we realised we had enough money to buy a brand new apartment.”
The EasyBuy scheme allows first-time buyers to own 100% of their home but only pay 80% of the price upfront. Unlike other incentives, there is absolutely no rent to pay or interest accrued on the outstanding 20% of the property’s equity for the first five years. The outstanding loan amount is paid back as a percentage of the property’s open market value at any time up to resale or after 10 years, whichever is sooner.
Carl, a self employed tiler, commented: “The deposit on the apartment was much lower than we expected, especially with the £1,000 off we received. When we were renting, it felt like we were throwing money down the drain, but now we have something that we actually own we feel much happier and settled.”
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.
Carly, who commutes to London everyday, explained: “The location is fantastic and I’m able to walk to the train station every morning for work. It’s great at weekends too, as we are so close to the Old Town and all the amenities.”
Jennifer Pennells, Marketing Manager for Crest Nicholson South, explains: “Other popular commuter areas have priced first time buyers out of the market. However, the location of Merchant’s Quarter combined with our EasyBuy scheme make it ideal for city workers like Carly and Carl to buy rather than continue renting.”
Merchant’s Quarter is close to 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.
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.
*EasyBuy is only available on selected properties and is not available in conjunction with any other offer. The remaining 20% is left outstanding as a loan for up to 10 years secured by a second mortgage. The customer pays 0% interest fixed on the outstanding 20% for the first 5 years and only 3% interest pa (typical 3.00% APR) thereafter.
