Time for first time buyers to escape the rental rut
If you’re tired of living with mum and dad or fed up of handing over your hard earned cash to your landlord each month, then Taylor Wimpey Southern Counties’ ‘Easystart’ shared equity scheme* could be right up your street!
The UK’s leading housebuilder is offering a helping hand to Portsmouth’s first time buyers who are finding it a struggle to get onto the property ladder, as it has two one bedroom apartments at Austen Court in Hilsea currently available to buy using Easystart.
Under the scheme, first time buyers can purchase a new Taylor Wimpey home for as little as 85% of the price now. Simply pay a 5% deposit on exchange of contracts, and 80% of the price via your prearranged mortgage on completion. Taylor Wimpey will then loan you the remaining 15%, with no rent or interest to pay for up to 10 years.
Sarah Pasco, regional sales director for Taylor Wimpey Southern Counties, said: “We speak to numerous first time buyers who are finding it incredibly difficult when it comes to getting onto the property ladder. Not only is there an abundance of news reports on the property market to make sense of, recent research** has also claimed that the average first time buyer has to save a deposit of over £37,000 to become a home owner - but at Austen Court you need a deposit of just £5,000 to buy your new home!”
By using Easystart you could snap up a one bedroom apartment in Heaton House, which boasts a sizeable open plan kitchen/ living/ dining room with French doors leading onto a balcony, a master bedroom, modern bathroom and allocated parking space, for as little as £100,000 with a deposit of only £5,000*. The other one bedroom apartment available on the scheme is also in Heaton House and on sale from as little as £105,000, requiring a deposit of £5,250*.
Sarah added: “People are finding it increasingly difficult to get out of the rental rut, especially as they think they have to save thousands upon thousands for a desposit for their first home. With Easystart, Taylor Wimpey is offering an affordable way of getting onto the property ladder, but as there are only two opportunities to buy using this scheme I’d encourage those interested to get down to Austen Court now or risk missing out!”
Located amongst mature trees on the north end of Portsea Island within an established residential area of Hilsea, Austen Court benefits from its close proximity to Portsmouth city centre, while Hilsea railway station offers commuters a direct line to London Waterloo.
In addition to one bedroom apartments, there’s also a collection of two bedroom apartments priced from £132,000.
For further information on the homes available, visit taylorwimpey.co.uk.
*subject to eligibility and terms and conditions on selected plots only
**research by the HBF
