Buy buy rent

Tue, Jan 16th 2007, 11:00

A little help from your friends could be all you need to take that first step onto the property ladder at Hilton, near Derby.

New research by HSBC indicates that more and more people are choosing to take out group mortgages to make buying their first home easier.

In fact, ninety three per cent of potential first-time buyers claim that affordability is a problem and more than half say that they would consider buying a property with family or friends to get on the elusive property ladder.

It’s with this in mind that house builder Redrow has opened a brand new two-bedroom view apartment at Meadow Brook in Hilton. The company hopes to inspire dejected single buyers who thought they’d never make it on the property ladder to think again and consider buddy-ing up to make the move.

Julia Pallister, sales director for Redrow Homes (Midlands) said: “If you're single it’s difficult enough to get a deposit together – never mind securing a big enough loan to pay for a property – especially if you’re renting.

“It’s easier for couples, as lenders will offer typically two and a half times the joint salary, while the most an individual can obtain is generally three times their salary.
         
“One way to overcome this is to share the load with a friend. That’s why we’ve just opened to the doors to a fabulous new view home, which has been lightly dressed with carpets, curtains and lights, to give people an idea of the lifestyle they could be buying in to if they buy with a friend.”

There is now a selection of Avon apartments at Meadow Brook, which lend themselves well to friends buying together. Although, individually, the shapes and sizes of the apartments vary, they all briefly consist of a large open plan lounge/kitchen with a spacious bathroom and two bedrooms.

Julia added: “There are two double bedrooms – one of which has an en-suite shower room, so whoever has the second bedroom can make full use of the main bathroom. However we really want to stress the urgency to those currently thinking of moving, as we have just seven plots remaining in the current phase – they start at just £119,950 and all seven are below the £125k stamp duty threshold.”

The great value apartments at Meadow Brook are just one of the many selling points of Meadow Brook, and the development also enjoys a terrific location.

It is positioned close to the A50, with links to the Midlands’ motorway network, and overlooks open fields to give the development a semi-rural feel. In contrast, the nearby cities of Derby and Stoke offer major shopping and cultural opportunities.

Hilton itself has plenty of local amenities if you prefer the gentle pace a bit closer to home. The venture also has the breathtaking benefit of being close to the Derbyshire Dales with its stunning scenery, refreshing walks, historic properties and outdoor sports.

For more information about buying with a friend at Meadow Brook, visit the development now to view the new view apartment. The Redrow marketing suite, on  Avon Way, is open Mon-Fri from midday to 5.30pm and form 10am at weekends, or call the sales consultants on 01283 734 286.