Penarth developer gives home buyers a helping hand

The mortgage market has started to see a light at the end of the tunnel as this summer saw the number of mortgages taken out by first-time buyers reach a ten-month high. According to the Council of Mortgage Lenders, the number of loans given to borrowers in June 2011 was 24% higher than the previous month and the highest since August 2010*.

Crest Nicholson has experienced the rise with more new borrowers making their mark on the property market. The award-winning housing developer is offering its popular EasyBuy scheme exclusively to first-time buyers at Penarth Heights in Penarth, allowing them to purchase a property with only a small deposit.

Laura Osborne, Sales Manager for Crest Nicholson Wales, explains: “This news is exactly what the property market needs. Lending is improving steadily for first-time buyers who only have a small deposit and Crest Nicholson will continue to support new purchasers to help them onto the ladder.

“The EasyBuy scheme’s popularity is a reflection of the recent market results and although the industry may not be out of the woods just yet, it’s encouraging to see that confidence is returning to the property market.”

With EasyBuy, purchasers have an opportunity to own 100 per cent of their new home at 85 per cent of the price, paying no rent or interest on the outstanding 15 per cent for the first five years.

With beautiful views across the Marina, Penarth Heights offers a range of stylish homes and apartments suitable for first time buyers. The development of 377 properties includes a mix of contemporary one, two, four and five bedroom homes on the first phase – a small percentage of which will be affordable homes.

Prices currently start from £109,650 for a one bedroom apartment with EasyBuy, or £135,958 for a two bedroom home with EasyBuy. For more information please call into the on-site Sales and Marketing Suite (open 10am-5pm daily), or visit crestnicholson.com.

*cml.org.uk, 10 August 2011