Buyers who believe a brand new home is beyond their reach are being invited to attend a special event in Lancaster by homebuilder Redrow.
The event on Sunday, January 29, at the company’s contemporary Abode at Riverside View development, is aimed at filling in the facts about the Government-backed equity loan scheme that helps people buy a brand new home with only a 5% deposit.
Claire Jarvis, sales director for Redrow Homes (Lancashire), said misleading news stories last year had left people feeling confused about Help to Buy with many assuming it was no longer an option.
But she added: “While a part of the scheme – the mortgage guarantee element – was abandoned, the loan scheme continues to help house hunters buy a brand new property, whether they are first time buyers or previous home owners.
“The event is being held to set the record straight, as well as giving people all the information about it and how it can help them get the property they have always dreamed of.”
Under the Help to Buy scheme, the Government will lend a buyer up to 20% of the value of their new-build home through an equity loan that’s interest free for five years. Buyers should then only need to secure a 75% mortgage from a lender of choice and provide a 5% deposit to purchase their new home.
It means that the initial cost of the home is reduced, which is a boost for people just stepping onto the property ladder in those difficult early years, or makes it easier for those who need more space to move on and ‘buy bigger’.
Abode is Redrow’s more contemporary style of living, with an ‘uncluttered’ but smart façade, wide open living spaces and plenty of appealing in-vogue features. Several house styles, for instance, are suited to shared living with each bedroom having its own wet room or en-suite.
Situated off New Quay Road, on the banks of the River Lune and just a short distance from Lancaster town centre, the collection of stylish three-bedroom homes offer a contemporary lifestyle, combining the space and energy of an apartment-style property with those luxurious individual touches.
Discreet storage units create faux walls and optional extras include outdoor kitchens and low maintenance artificial turf, perfect for busy people who want to just get home, kick back and relax.
The Abode homes currently start from £219,995 for the ‘1050’ style house. With Help to Buy, the initial cost is reduced to just £175,996 and a 5% deposit of only £10,999 should be sufficient to secure the deal.
More information can be obtained by attending the Help to Buy Event at the development in New Quay Road between 10am and 5.30pm on Sunday, January 29.
For more details about the event and Abode at Riverside View call 01524 925797 or go to www.redrow.co.uk/abodelancaster.