Even more homebuyers could find they’re able to purchase a brand new home in Bingham, recently named one of the best places to live in the Midlands, thanks to the new ‘Help to Buy’ scheme.
Available at Redrow’s Mill Hill development, Help to Buy offers customers the chance to secure a home with just a 5% deposit and enjoy lower monthly mortgage repayments with the aid of an equity loan from the Government for up to 20% of the purchase price
This means they only need a 75% mortgage from their chosen lender and should be able to access much more competitive interest rates.
All types of purchasers can apply for an equity loan through ‘Help to Buy’, not just first time buyers. It is available exclusively on new homes.
Pauline Turnbull, sales director for Redrow Homes, (Midlands), said: “Bingham was one of just 12 locations in the region to feature in The Sunday Times guide to the Best Places to Live in Britain. The newspaper credits its sense of community, great countryside and its people and we agree it is a great place and that’s why we’re building here. The fantastic news for those who want to buy a home at our Mill Hill development in the town is that we’re now offering Help to Buy.
“It will open the door for those who have saved hard for a 5% deposit, while allowing them access to better interest rates usually reserved for people with much larger savings.”
Located in Mallow Way, Mill Hill offers a good choice of properties, ranging from two-bedroom apartments to substantial five-bedroom detached family homes.
Current prices start from as little as £97,995 for a two-bedroom apartment. With Help to Buy it can be secured with a deposit of £4,900 and a mortgage of £73,496.
‘Help to Buy’ equity loans are available on homes up to £600,000. The loan can be repaid at any time or when the purchaser comes to sell their home.
For more information about the homes available at Mill Hill, visit the sales office, open daily from 10am to 5.30pm. Alternatively, call 01949 358 357 or see www.redrow.co.uk/mill.
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, 2012 and 2013; collected the Silver award in the Large Housebuilder category of the 2012 What House? awards; and its ‘Share a little bit of joy’ campaign was named best marketing initiative at the 2012 Housebuilder Awards. Web: www.redrow.co.uk.