Owning a stylish new home in Telford is now even easier thanks to 95% mortgages through the NewBuy initiative.
The valuable help is available on all new homes at Trenchwood Gardens, which features everything from two-bedroom starter homes to four-bedroom detached family homes.
It means buyers should only need a relatively small deposit of around 5% of the purchase price to get on the housing ladder or move up to somewhere larger.
Pauline Turnbull, sales director for Redrow Homes (Midlands), explains: “People may have heard that 95% mortgages are back but not realise what it means for them. In short, would-be home owners should be able to buy their first home sooner rather than later or move up the property ladder even if they don’t have lots of savings or substantial equity in the home they’re moving from.
“At a time when most lenders require deposits of around 20% of the purchase price, it’s the ideal solution for those who have sufficient income to make monthly mortgage payments on the amount they wish to borrow; they just don't have the cash available to put down a large sum up front.”
Those with savings of around £6,249 could find they’re able to secure a two-bedroom Evesham style property at Trenchwood Gardens.
Priced at £124,995, it’s an ideal starter home. It features a well equipped kitchen with integrated top brand name appliances, including oven, hob, microwave and fridge freezer, so buyers don’t have to worry about finding extra cash for essential white goods. There’s an open plan lounge and dining room, laundry and downstairs cloaks, while upstairs there are two double bedrooms and a bathroom with quality fixtures and fittings.
“While the Evesham is ideal for those on the first rung of the property ladder, it’s not just first time buyers who can benefit from NewBuy. The scheme offers other buyers the chance to own a new home with only a 5% deposit and at Trenchwood Gardens there’s a good selection of two, three and four-bedroom homes to choose from,” Pauline continues.
“Traditional on the outside, their Arts & Crafts inspired exteriors provide the period style ‘character’ that many people want from their home, but inside they are bright, modern and full of family friendly features so home owners get the best of both worlds.”
Located in Sommerfield Road, Trenchwood Gardens is just a short journey away from a wealth of amenities and attractions in Telford town centre. With the M54 within easy reach, along with Oakengates railway station, the homes are well placed as a base for commuters.
For more information about the homes and the help available, visit the show homes, open daily from 10am to 5.30pm
A video guide to NewBuy and 95% mortgages can be viewed online at www.redrow.tv.
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.