Mortgages are at their most affordable in 14 years and you could see if you qualify for one in the time it takes to drink a cuppa.
At Hedera Green this weekend (September 28/29) visitors can take Redrow’s ‘15 Minute Mortgage Challenge’ to find out if they can secure a mortgage on a new home.
New homes mortgage specialists will be on hand to review customers’ finances, assess how much they can afford to borrow and guide them through the buying process, including explaining incentives such as Help to Buy.
Tonia Tyler, head of sales for Redrow Homes (South Midlands), explains: “Reports from the Halifax suggest mortgages are at their most affordable for more than a decade, with payments accounting for just 27% of average incomes and interest rates at historically low levels. While many consumers are showing signs of increased confidence in the housing market, not everyone may realise what it means to them and what they could afford to buy.
“We want to streamline the buying process as much as possible to make it quick and simple for our customers. During our 15 Minute Mortgage Challenge event, visitors to Hedera Green will be able to talk to our new homes mortgage specialists about their options, including Help to Buy.
“Based on their savings, income and outgoings we’ll quickly be able to work out how much they could afford to borrow to buy a new home. In fact they could even find out if they qualify for a mortgage in just 15 minutes or the time it takes to enjoy a cup of tea or coffee on us.”
Help to Buy allows home buyers to take out a 20% equity loan from the Government, which is interest free for five years. They then only need a 75% mortgage and 5% deposit to purchase their new home and monthly mortgage repayments should be lower than expected.
Hedera Green offers four-bedroom homes in a choice of styles with current prices from £357,995 to £579,950, all of which are available with Help to Buy.
Using the Stratford style as an example, its full market value is £357,995. However, it can be snapped up for only £286,396 with Help to Buy. The lower price includes a customer deposit of £15,039 and a mortgage of £273,076. The balance is covered by the equity loan.
Situated on Baldock Road on the edge of Royston, the homes enjoy a quiet country setting, yet the amenities of the market town are within easy reach.
The development is within walking distance of Royston railway station with services that can whisk passengers to London’s Kings Cross in less than 40 minutes.
To take Redrow’s15 Minute Mortgage Challenge, visit Hedera Green this weekend (September 28/29).
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.