Jump on the housing ladder in Stockport with help from Redrow

Tue, Apr 22nd 2008, 10:30

The award winning house builder has identified three easy steps to getting on the property ladder, as part of its ‘re:assure from Redrow’ offering - and they could be the key to them owning their first home at Cooper Court in Hazel Grove, near Stockport.

Redrow’s group marketing director Simon Bennett says: “The whole ethos of ‘re:assure’ is to make home ownership as easy as possible from the moment of first enquiry right through until after our customers have moved in. This is more important than ever for first time buyers, for whom buying their first home is an exciting time - but it can be difficult to get going at first.”

To help, Redrow has broken the process down into three easy stages.
“Firstly, identify where your first home will be,” adds Simon. “We have many homes that are perfect for first time buyers, whether buying alone, as one half of a couple or with friends. Being brand new, they’re low maintenance and economical to run – and there’s none of the costly renovations or repairs associated with buying an older home.”

The next step is to make it happen; and there are many different options now available to first time buyers to make it easier for them to get onto the property ladder.

Simon continues: “For those who can’t quite get there on their own, ‘mortgaging with a mate’ is a popular solution. An increasing number of young people are clubbing together with friends to buy their first home. We’re geared up to handle this type of enquiry and the financial advisers we work with can identify suitable mortgage products.

“Getting help from parents is another stepping stone to home ownership. Parents can act as a guarantor, come in on the mortgage, or simply help out with the costs of moving. And at Redrow we may be able to match whatever your parents are contributing – up to 5% of the purchase price - on selected plots.

“Through our independent financial advisors we can offer as many as 8,000 mortgage products and help to ensure you’re getting the right one. We can also help you understand how different types of mortgages work.”

The third and final step is to remove the obstacles they might meet as a first time buyer, arriving at the right solution to overcome them.  For example, Redrow being able to pay a 5% deposit on their behalf could give buying a new home the edge over a second hand property for those first time buyers without savings, since the main lenders have withdrawn 100% mortgage products.

Other support Redrow may be able to offer includes paying £500 per month towards the mortgage for up to two years; covering additional expenditure like stamp duty or legal fees; or providing carpets and furniture for that first home.

“It’s all about being flexible and treating each first time buyer as the individual they are, with their own set of individual needs,” adds Simon.  “Hopefully this way we’ll see an end to those headlines about dwindling numbers of first time buyers and, instead, a flurry of young people enjoying their newly gained independence.”

Those looking to take the first step onto the ladder will find the perfect pad at Cooper Court, just three miles away from Stockport, where there is also a range of properties suitable for sharing with a friend,.

Patsy Aicken, sales director for Redrow Homes (North West), says: “We see the struggle that first time buyers face when they want to take a step onto the property ladder and so we aim to help them as much as possible.

“At Cooper Court there is plenty of choice for those looking to take the plunge and we have a range of stylish apartments, perfect for those starting out.”

Priced from £156,000, the Avon apartment is well suited to busy professionals who want the convenience of a new-build and don’t want to worry about renovations and too much maintenance. Although designs differ, the property typically offers an open-plan living/dining/ kitchen area, along with two bedrooms – one with en-suite shower room – and the main bathroom. 

Two-bedroom apartments are currently available from £156,000 while prices for three-bedroom homes start at £229,950.

Manchester city centre is less than half an hour away by rail or car, making it the perfect choice for commuters and those who love being close to the buzz of the city, without living right in the middle of the action.

And the semi-rural location of charming Hazel Grove village is another draw, with the local reservoir right behind the development offering the perfect opportunity for a water-side summer stroll.

For more information on Cooper Court  and how Redrow could help you to get onto the property ladder, call the sales team on 0845 676 0372 or log onto www.redrow.co.uk/developments/view/10.