New year to bring boost for first time buyers

As the nation counts down to the end of the stamp duty levy, Stewart Milne Homes is kicking off the New Year with an innovative offering of affordable options to help get more first time buyers on the move.

The award winning housebuilder's first time buyer plan aims to combine the aspirations of new buyers with manageable mortgage repayments, and is offering a wide range of one, two and three bedroom homes, in locations from Wishaw to Aberdeen. From a selection of executive apartments and terraced homes available with financial enablers, to a new range of houses designed and priced to suit, there is a practical and affordable solution for everyone.

John Slater, Group Managing Director - Stewart Milne Homes, said: "We are constantly monitoring buyer needs and tailoring our homes and products to ensure we are providing the most effective solutions available."

In Aberdeen and Tayside, buyers can choose from Stewart Milne Homes' new range of genuinely affordable homes. Launched in autumn, the collection is cleverly designed to meet the lifestyle needs and budget of today's first time buyer and comprises a selection of one and two bedroom houses priced from as little as £88,995 (£404 per month).

Commenting on the collection, John Slater said: "With first time buyers now largely professionals, couples and young families, we are creating traditionally-styled one and two bedroom houses within a first time buyer price bracket, ensuring mortgages are obtainable. And, with many lenders offering mortgages of up to 90 percent with houses, deposit requirements for these properties are much more manageable."

The new collection was first introduced at Stewart Milne Homes' West 1 development in Kingswells, Aberdeen, with a range of one and two bedroom terraced homes priced from just £139,995 - less than half the local average house price. Following an extremely successful launch, the collection has since been introduced in Tayside, at the company's Churchfields development in Errol (priced from £92,495) and Strathearn View in Crieff (priced from £88,995), with additional locations set for 2012.

Meanwhile, Stewart Milne Homes is offering a variety of one, two and three bedroom homes across Aberdeenshire, Stirling, Wishaw and The Lothians available from as little as £443 per month with its Deferred Payment Plan.

John Slater adds: "Our Deferred Payment purchase plan has proved an outstanding success, and we remain committed to keeping first time buyers on the move throughout 2012. This year, we have increased the availability of the purchase plan to a variety of new locations across the North East, Central and East Scotland, offering first time buyers a wider choice of affordable homes."

Enabling buyers to purchase a new home with a mortgage for as little as 75 percent of its value, and a deposit of between five and ten percent, the Deferred Payment Plan significantly reduces monthly repayments and can make buying a home more affordable than renting.

In Stirling, the newly launched two bedroom terraced homes at Wallace Gardens are priced from as little as £602 per month while, in Wishaw, two bedroom homes at Morningside Gardens can be purchased with monthly mortgage repayments of just £443.

Meanwhile, buyers in East Scotland can chose from the new two bedroom apartments at Hopefield View in Bonnyrigg, priced from £627 per month, and the three bedroom terraced homes at Athena Grange in Prestonpans, costing as little as £663 a month.

In the North East, one bedroom executive apartments at Broadshade in Westhill are priced from just £625 per month with the Deferred Payment Plan while, at Silver Birches in Alford, a two bedroom terraced mews can be purchased for as little as £589 per month.

Many of these homes come complete with a choice of flooring , curtains and carpets, a 40 inch plasma TV and home cinema, plus landscaped gardens (where relevant) for a stylish start as a homeowner.

All first time buyers also benefit from mortgage protection insurance and no stamp duty on homes under £250,000 settled prior to 24 March 2012.

See Also: Property News (6705), Stewart Milne (0), Churchfields (0), Errol (0), Aberdeen (1)