95% mortgages are back - and available on Redrow Homes in Stoke
Owning a Redrow home in Stoke on Trent just got a whole lot easier with the news that a 5% deposit may be all that’s needed to secure a traditional looking, quality built new home.
Designed to kick-start the housing market by underwriting mortgages up to 95% of the property’s value at competitive interest rates, NewBuy will be available to customers spending up to £500,000 on a newly built home, whether they’re a first time buyer or already own a house.
Redrow will be working with all three lenders who have already announced they will be participating in the scheme – NatWest, Nationwide and Barclays.
It’s a scheme that is sure to be popular and, nationally, Redrow has already received over 6,000 enquiries about NewBuy.
Anita Williams, sales director for Redrow Homes (NW), said: “NewBuy will help people who want to take their first step onto the property ladder as well as those who already own a home but are looking to ‘trade up’, so it’s a great time to make that longed-for move to Waters Edge.
“In our experience, mortgage availability – or the lack of it – and pressure to find a high deposit has been the biggest hindrance to people who want to buy a home. The scale of the NewBuy initiative, the fact it has the Government’s weight behind it and major lenders are on-board, should resolve these issues.”
Lenders participating in the scheme will provide a 90-95% mortgage for buyers who meet their qualifying criteria; the lenders will be protected by a mortgage indemnity guarantee (MIG) jointly funded by Redrow and the Government.
“We’ll be working with designated lenders and will refer customers to our mortgage specialists for the financial advice they need. We’ll be making the process as simple, swift and straight-forward as possible,” Anita added.
Prices at Waters Edge range from £105,000 for a two-bedroom apartment to £149,995 for a four-bedroom townhouse.
All homes feature Redrow’s high standard of interior specification, including contemporary fitted kitchens, with top brand name appliances, and sleek bathroom suites. The apartments offer the ultimate low maintenance lifestyle and are great for those starting out in a home of their own, as well as people who’ve retired and are looking for a new home that is easy to manage and secure. The final four-bedroom homes are family sized townhouses with integral garages and en-suites to master bedrooms.
The properties can be viewed by appointment. To arrange a viewing call 01782 499 335 or see
www.redrow.co.uk/developments/waters-edge-hanley-stoke-on-trent for more information.
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 and 2012; collected the Gold award in the Large Housebuilder category of the 2011 What House? awards; and its ‘Our Pride ~ Your Joy’ campaign was named best marketing initiative at the 2011Housebuilder Awards for innovation and excellence. Web: www.redrow.co.uk