The cost of raising a family may have increased, but a family home in Barton Seagrave could be easier to afford thanks to Help to Buy.
Research by the Centre of Economic and Business Research (CEBR) suggests that parents spend around £230,000 raising a child to the age of 21 – that’s an increase of more than 60% since 2003.
And while the figures don’t include expenditure on accommodation, the good news is that Help to Buy could reduce the initial cost of a brand new home at Castle Fields. Plus those who purchase a property using the Government-backed scheme should only need a relatively small deposit of around 5%.
Tonia Tyler, sales director for Redrow Homes (South Midlands), says: “It’s almost two years since Help to Buy equity loans were introduced, but we’re still finding that some people don’t fully understand the scheme or what it means for them. For example, families could use Help to Buy to help make their money go further, enabling them to buy a home that gives them the extra space they need.
“Lloyds Bank suggests the average deposit paid by a home mover is around £80,000 but with Help to Buy they might only need around £15,000 for a 5% deposit on the four-bedroom detached Cambridge at Castle Fields. They should then only need a 75% mortgage from their chosen lender as the remaining 20% is covered by the equity loan. Crucially, the equity loan is interest free for five years.”
The Cambridge offers 1,345 square feet of well planned, family friendly accommodation. At its heart and spanning the width of the property, is an open plan kitchen, dining area and family room with patio doors onto the back garden. This inviting, sociable space is complemented by a separate lounge for quieter moments. A utility and cloakroom complete the ground floor.
Upstairs, the master bedroom benefits from an en-suite to complement the family bathroom.
The Cambridge is available from £295,950 on the open market or an initial outlay of £236,760 with Help to Buy.
Castle Fields and nearby River View, both part of the wider Barton Park development, in Barton Seagrave, offer a choice of three, four and five-bedroom properties from Redrow’s sought-after Heritage Collection of traditional looking homes.
Nestled amid landscaped parks, lakes and open space, the homes at Barton Park enjoy a tranquil village setting, yet close to the town centre amenities of Kettering. The development is ideal for families as there are schools within walking distance and children’s play areas will be created amongst the homes.
There are two supermarkets within easy reach, while easy access to the A14 provides a link to neighbouring towns. Trains from nearby Kettering offer frequent services to London St Pancras in around an hour.
Established more than 40 years, 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, most recently, the Gold Award for Best Large Housebuilder at the WhatHouse? Awards 2014, the 2014 Building Awards Housebuilder of the Year and four consecutive 5* awards in the Home Builder Federation (HBF) annual customer satisfaction survey. Redrow also collected the award for best marketing initiative at the 2014 Housebuilder Awards and its ‘My Redrow’ online tool won the overall Customer Engagement category at the 2013 Peer Awards for Excellence.