The affordable way to buy your first home in Wigan
First time buyers in Wigan could find that their dreams of homeownership become a reality sooner than they anticipated.
Thanks to FirstBuy, those who long for a home of their own don’t have to scrimp and save to escape the rental trap or fly the parental nest to a home at College Court.
Lesley Myers, area sales manager for Redrow Homes (Lancashire), explains: “Many young people aspire to owning a home of their own, but may worry that they won’t be able to because they haven’t got thousands saved in the bank.
“But with FirstBuy they could be pleasantly surprised to discover just how little they need as a deposit. The valuable help reduces the overall size of the mortgage required and, more importantly, the improved loan-to-value ratio (LTV) means savings of less than £5,000 could be enough to secure a home at College Court.”
A deposit of £4,560 could be all a buyer needs to secure a two-bedroom ‘Evesham’ style home at College Court. On the market at £113,995 it could be purchased for an initial outlay* of just £86,636 with FirstBuy.
The balance comes in the shape of an equity loan jointly funded by Redrow and the Homes and Communities Agency. The loan is interest-free for the first five years and can be repaid when the customer has more funds available or they come to resell.
To be eligible for FirstBuy you must be a first time buyer, or want to return to home ownership, and have household earnings of less than £60,000 a year.
“First time buyers may think that they have to settle for an older property that’s in need of lots of work to be able to afford a home of their own, but thanks to FirstBuy they won’t have to compromise on style to be able to afford a new home,” Lesley added.
“Our skilled team of craftsmen have invested a high degree of workmanship in the homes at College Court to ensure that they are built to the same quality standards.”
Current availability at College Court includes two, three and four-bedroom homes from Redrow’s sought-after New Heritage Collection.
Traditional on the outside, bright and modern inside, they all boast Redrow’s high specification interiors with convivial open plan layouts that put the kitchen at the heart of the home.
Both practical and stylish, those kitchens are well-equipped with integrated top brand name appliances including oven, microwave and fridge freezer, plus tall cabinets and extra wide drawers that offer plenty of storage.
Family bathrooms and en-suites enjoy quality fixtures and fittings, with a tile range that’s exclusive to Redrow.
For further information, visit redrow.co.uk.
*Initial outlay is the sum of a 4% deposit and a 76% mortgage. The 76% mortgage is currently only available through Halifax. Other mortgages are available from other lenders.
