Designed to kick-start the housing market by underwriting mortgages up to 95% of the property’s value at competitive interest rates, NewBuy will be available to customers spending up to £500,000 on a newly built home, whether they’re a first time buyer or already own a house.
Redrow will be working with all three lenders who have already announced they will be participating in the scheme – NatWest, Nationwide and Barclays.
It’s a scheme that is sure to be popular and, nationally, Redrow has already received over 6,000 enquiries about NewBuy.
Anita Williams, sales director for Redrow Homes (NW), said: “NewBuy will help people who want to take their first step onto the property ladder as well as those who already own a home but are looking to ‘trade up’, so it’s a great time to make that longed-for move to Stamford Brook.
“In our experience, mortgage availability – or the lack of it – and pressure to find a high deposit has been the biggest hindrance to people who want to buy a home. The scale of the NewBuy initiative, the fact it has the Government’s weight behind it and major lenders are on-board, should resolve these issues.
“We know that people want to buy our homes at Stamford Brook, and now, hopefully, they will have the means.”
Lenders participating in the scheme will provide a 90-95% mortgage for buyers who meet their qualifying criteria; the lenders will be protected by a mortgage indemnity guarantee (MIG) jointly funded by Redrow and the Government.
“We’ll be working with designated lenders and will refer customers to our mortgage specialists for the financial advice they need. We’ll be making the process as simple, swift and straight-forward as possible,” Anita added.
Prices at The Willows and The Oaks, at Stamford Brook, currently range from £120,995 for a two-bedroom apartment to £360,000 for a four-bedroom detached family home.
Homes at The Oaks are from the New Heritage Collection and have been influenced by the architecture of the Arts & Crafts era, while homes at The Willows are more contemporary in their exterior design so there is something to suit everyone. Inside all homes are bright and modern with convivial open plan spaces and high quality fixtures and fittings.
Set in a semi-rural location, Stamford Brook offers the best of both worlds. Woodland walkways and greenways are part of the development; yet the homes enjoy easy access to local amenities with a supermarket just a stone’s throw away. Manchester city centre is easily reached and there’s good motorway access to other cities, including Chester and Liverpool, making it a great choice for commuters.
For more information visit both developments at Stamford Brook, off Manchester Road, call 0161 425 3467 or see www.redrow.co.uk.
Redrow Homes is one of the UK’s leading house builders, operating across England and Wales, with a strong emphasis on high quality family housing in prime locations. Its New Heritage Collection of family homes combines traditional looking, ‘Arts & Crafts’ influenced exteriors with bright, modern, high specification interiors. Established more than 35 years, the company has won numerous awards over the years. Redrow received a 5* Award in the Home Builder Federation (HBF) annual customer satisfaction survey in 2011 and 2012; collected the Gold award in the Large Housebuilder category of the 2011 What House? awards; and its ‘Our Pride ~ Your Joy’ campaign was named best marketing initiative at the 2011Housebuilder Awards for innovation and excellence. Web: www.redrow.co.uk.