Helping buyers understand Help to Buy in Barton Seagrave
Buyers in Barton Seagrave are seizing the opportunity to cut the cost of homeownership with the aid of a Help to Buy equity loan.
Almost half of those who have bought a brand new home at Castle Fields have used the Government-backed scheme and to ensure other potential purchasers are aware of the how they could benefit from the valuable incentive, Redrow is holding a special Help to Buy event at the popular development this weekend (March 15/16).
Alexis Bissett, area sales manager for Redrow Homes (South Midlands), says: “Help to Buy has played a key part in the success of Castle Fields, where around 45% of customers have taken out an equity loan to make owning a new home easier to afford. And while Government figures suggest that the majority of people using Help to Buy are buying their first home, buyers in Barton Seagrave are bucking the trend – two thirds of our Help to Buy purchasers are making their next step on the property ladder.”
Help to Buy makes homeownership easier to afford by offering customers the chance to take out an equity loan for up to 20% of the asking price. Crucially, the loan is interest free for five years. Another advantage of the scheme is that buyers should only need a relatively small deposit of around 5%.
For example, a four-bedroom Kenilworth style property usually costing £196,950 can be snapped up for an initial outlay of £157,960. The lower price includes a 5% customer deposit and a 75% mortgage.
“It’s almost a year since Help to Buy equity loans were introduced and while people have often heard about the scheme they’re not always sure of the mechanics of it or if they’re eligible,” Alexis adds.
“This weekend our friendly, experienced sales team at Castle Fields will be joined by new homes mortgage specialists who will be able to guide visitors through the buying process, answering their questions and making it as simple and straight forward as possible.”
Located on Polwell Lane, the new homes at Castle Fields are ideally placed for shops and services. Residents can buy their groceries locally at two nearby supermarkets and there are plenty of opportunities to indulge in retail therapy either in major high streets stores in nearby Kettering town centre, at the Newlands Shopping Centre which is undergoing a revamp, or at the market place. Those who want to dine out can choose from local independent eateries or national chain restaurants; art lovers can pay a visit to the award-winning Alfred East Art Gallery or there’s the chance to look back in time at the Manor House Museum.
To find out more about Help to Buy, visit Castle Fields this weekend (March 15/16). Alternatively, call 01536 660509 or log on to www.redrow.co.uk/castlefields.
Currently celebrating its 40th year, 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 Heritage Collection of family homes combines traditional looking, ‘Arts & Crafts’ influenced exteriors with bright, modern, high specification interiors. The company has won numerous awards over the years, including three consecutive 5* awards in the Home Builder Federation (HBF) annual customer satisfaction survey in 2011, 2012 and 2013. Redrow also collected the Silver award in the Large Housebuilder category of the 2012 and 2013 What House? Awards; the award for best marketing initiative at the 2010, 2011 and 2012 Housebuilder Awards and its ‘My Redrow’ online tool won the overall Customer Engagement category at the 2013 Peer Awards for Excellence. Web: www.redrow.co.uk.