Why Rent when you can Buy?
Using The Parr, a spacious two-bedroom apartment priced at £354,950 as an example, figures from Heron Financial show that with a 1.44% 2 year fixed rate over 25 years with a 5% deposit and Help to Buy, a purchaser could expect a mortgage re-payment of £1,058 a month , compared with a rental figure of £1,422 pcm . This poses the question to all househunters in this area of Berkshire – why rent, when you can buy for less?
William De Salis Johnston, from Redrow Homes' appointed selling agents, Roger Platt, said: "The market in Maidenhead is extremely complementary towards the buyer at the moment and we foresee this continuing throughout 2018.
“For many people, the prospect of owning their own home does not seem feasible, however, we want to dispel this myth and encourage people to explore their options. Many people will be pleasantly surprised to discover that, on properties such as the apartments at The Loftings, the monthly sums work out in favour of the buyer over the renter.
“With these numbers working out as they are, it would be a ‘no brainer’ not to look into the very real possibility of owning your own home, rather than renting it!”
Maidenhead is continuing to establish itself as an ideal location for househunters looking for the benefits of town centre living, without compromising quality of life. With Crossrail due to arrive in 2019 and reduce journey times into central London to less than an hour, the Berkshire town is putting itself on the map as a hotspot for regeneration and investment.
Mark Vanson, Sales and Marketing Director at Redrow Homes Southern Counties, said: " With changes to Stamp Duty legislation announced in the 2017 Autumn Budget, historic low mortgage rates and Help to Buy, this is a great time for those looking to secure a home here in Maidenhead.
“There are so many benefits to owning your own home and with the extra cash you’ll be saving on rent, you could put this towards some new furnishings, a holiday or even into a savings pot.”
Prices for homes at The Loftings currently start at £354,950 and are available with the Government-backed Help to Buy Scheme, which gives all prospective purchasers, first time buyers and otherwise, the opportunity to secure a home with as little as just a 5% deposit.
For more information on the homes, incentives and buying assistance schemes available, or to book an appointment to view the show apartments, call 01628 703511 or visit www.redrow.co.uk