Those who long to own a brand new home could find it’s more affordable than they realised thanks to Help to Buy.
The Government-backed scheme offers customers who have a 5% deposit the chance to take out an equity loan for up to 20% of the purchase price. They will then only need a mortgage for 75% of the property’s value.
The good news is, unlike its predecessor FirstBuy, it’s not just open to first time buyers but can be used by a host of purchasers including growing families and those who perhaps don’t have substantial equity in the home they’re moving from.
Help to Buy is available on all new Redrow homes priced at up to £600,000, including those at Hamlet Place in Stourport.
Pauline Turnbull, sales director for Redrow Homes (Midlands), commented: “FirstBuy was a real boost to first time buyers and a number of people who bought at Hamlet Place found it made a real difference to their buying power. We’re delighted that we can now offer Help to Buy so that even more people can benefit from taking out an equity loan to help facilitate a move to a brand new home. For example, families who have outgrown their current property could find they’re able to move to somewhere larger without having to worry about the cost of the extra space.”
Hamlet Place offers a good choice of four and five-bedroom homes. Current prices start from £269,995 or an initial outlay of £215,996 with Help to Buy. The initial outlay includes a deposit of £13,500 and a mortgage of £215,996.
All of the homes boast a high specification as standard with well equipped kitchens and stylish bathrooms and en-suites.
Located in the Severn Valley, residents of Stourport will be able to enjoy the benefits of living close to the River Severn and the Worcestershire Canal taking part in activities including rowing and watersports or relaxed cruises.
The town has a lively high street to cater for residents’ retails needs and enjoys a good sense of community with many active clubs and societies.
Hamlet Place itself is ideal for those with families as there’s a choice of schools nearby. It’s also well placed for commuters as it’s four miles from Bewdley and five miles from Kidderminster. Trains from nearby Hartlebury station whisk passengers to Worcester in around 20 minutes and Birmingham in under an hour.
To discover more about Help to Buy, visit the sales office and show homes at Hamlet Place, open daily from 10am to 5.30pm.
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.