The number of first time buyers is growing and with Help to Buy available, aspiring homeowners in Shifnal could purchase a property that gives them room to grow.
According to the latest Halifax First Time Buyer Review, there has been a 10% increase in the number of people making that all-important initial step onto the housing ladder in the first half of 2016, compared to same period last year. Purchasers are also investing more in setting up home, with the first time buyer average house price up 12% to almost £200,000 and the average deposit at £33,960.
But thanks to Help to Buy, those who’ve saved just a fraction of the average first time buyer deposit could secure a brand new home at Aston Fields in Shifnal.
Using the Government-backed equity loan scheme, customers should typically only need a 5% deposit.
It means that a three-bedroom semi-detached Letchworth style property, on the market at £233,995, could be secured for an initial outlay of £187,196. The lower price includes a customer deposit of £11,700, plus a mortgage for £175,496. The remaining £46,799 is covered by the equity loan, which is interest free for five years.
Pauline Turnbull, sales director for Redrow Homes (Midlands), said: “It’s great news that the number of first time buyers is rising and we hope to see that number continue to grow. Interest rates are at an all-time low and support in the form of the Government-backed Help to Buy: Equity Loan scheme is still readily accessible on new build homes. For those making their first foray into the property market, we’re here to support them every step of the way.
“We believe that our new homes at Aston Fields could provide that vital first step onto the property ladder for potential homebuyers in and around Shifnal. They are stylish and spacious, perfect for modern living and are ideal starter homes. Plus the advantage of buying a three-bedroom property is that they may not have to move when they’re ready to start a family.”
As with all of the properties in Redrow’s Heritage Collection, the Letchworth looks very traditional from the outside, taking inspiration from the architecture of the Arts & Crafts era.
Internally, however, it’s very much designed with busy modern lifestyles in mind. It features a spacious lounge to the front, with open plan kitchen and dining room to the rear with patio doors onto the garden, plus a convenient cloakroom.
Upstairs, the master bedroom benefits from an en-suite, leaving the family bathroom to serve the remaining two bedrooms.
Potential purchasers will be able to view a finished example of the Letchworth at Aston Fields as it’s one of three fully furnished show homes at the popular development.
To find out more, visit Aston Fields on Aston Street, open daily from 10am to 5.30pm. Alternatively, call 01952 324195 or see www.redrow.co.uk/aston
Established more than 40 years, Redrow Homes is one of the UK’s leading house builders, with a £1billion turnover and building more than 4,000 homes in 2014/15 financial year.
Operating across England and Wales, there is a strong emphasis on providing high quality homes in prime locations and its housing ranges feature designs to suit all lifestyles:
• The Heritage Collection combines traditional looking, ‘Arts & Crafts’ influenced exteriors with bright, modern, high specification interiors.
• The classically styled Regent Collection features Georgian inspired street scenes and architecture.
• Redrow has also launched a new brand of contemporary homes in Abode, which boast open plan layouts with streamlined kitchen, dining and lounge areas, high specification wet rooms and outdoor living space.
Redrow also creates exclusive bespoke developments in both rural and urban locations. The company has won numerous awards over the years, including, most recently, the Gold Award for Best Large Housebuilder at the What House? Awards 2015 and 2014, Best House Design at the Sunday Times British Home Awards 2015 and the 2014 Building Awards Housebuilder of the Year. Its ‘My Redrow’ online tool won the overall Customer Engagement category at the 2013 Peer Awards for Excellence. Web: www.redrow.co.uk.