Homebuyers invited to find out more about Help to Buy
Would-be new home owners are invited to a special event to find out how they can take that first step onto the property ladder or move up a rung with only a small deposit.
Help to Buy is a government scheme that means house hunters only need a 5% deposit to buy a brand new home.
Visitors to Redrow Homes’ developments across Lancashire and parts of Merseyside and Greater Manchester will be able to talk to experts and find out more about the initiative and how it can help them secure a brand new home. Events are taking place on Saturday, May 17 or Sunday, May 18 depending on the location.
Claire Jarvis, sales director for Redrow Homes (Lancashire), said: “Help to Buy is giving lots of would-be new home owners a vital boost. It’s not restricted to first time buyers and, because it’s available on new homes up to £600,000, can also help families move up the property ladder, provided they’ve sold their existing home subject to contract – and we can help them with that too!
“We’ve been experiencing high demand so far and we’d like to invite more people to come and take advantage of this easy way to buy. At the same time visitors can take a look at our homes and see what financial options are available to them.
“We’ve a wide selection of homes available at developments which stretch from Lancaster and Fleetwood in the north to Liverpool and North Manchester in the south. They feature properties from our award-winning Heritage Collection, which combines traditional exteriors with modern interiors.”
There’s a heavy concentration of developments in central Lancashire, including homes near Preston at Foxlow Manor, Longton and The Chase, Walmer Bridge; plus developments in Chorley including Sandy Lane, at Buckshaw Village and Sandhurst Gardens. A new venture, the Coppice, just north of Southport, is also coming soon.
Between the various developments there’s plenty of choice, ranging from two-bedroom apartments from £99,995 in Wigan and Chorley, to luxury five-bedroom detached houses around the £500,000 mark at Sandy Lane, Buckshaw Village, all still under the Help to Buy threshold of £600,000.
With Help to Buy purchasers take out a 20% government equity loan that’s interest free for five years. This reduces the initial cost of the home they’re buying and means they only have to find a 5% deposit and 75% mortgage from a lender of choice.
For a three-bedroom detached Warwick priced at £214,995 at The Chase, in Walmer Bridge, Help to Buy reduces the initial outlay to £171,996, with the customer requiring a deposit of £10,750. And because customers only need a 75% mortgage, their monthly repayments should be lower than expected. It’s a similar story at developments across the region.
On Saturday May 17, the Help to Buy events will take place from 11am to 4pm at The Orchard and Sandy Lane, Buckshaw Village; Summerhill Park, Liverpool; College Court, Wigan; Riverside View, Lancaster and Woodville Gardens, Moston.
On Sunday May 18, the events will be held from 11am to 4pm at Harbour Village, Fleetwood; Beacon Point apartments at Lytham Quays, in Lytham; Whitehill Meadows, Blackpool; The Chase at Walmer Bridge; Foxlow Manor in Longton; Birch Grange in Rochdale; Sandhurst Gardens in Chorley and Lucas Green in Whittle-le-Woods.
For more information see www.redrow.co.uk.