People looking for a new home in Walmer Bridge, near Preston, will be delighted to discover that they may only need a 5% deposit thanks to the NewBuy initiative.
The Government-backed scheme is available at The Chase, off Liverpool Road, a development of three and four-bedroom homes from Redrow.
To explain how buyers can benefit, the award-winning housebuilder is hosting a special event this Sunday (January 20).
Lesley Myers, area sales manager for Redrow Homes (Lancashire), commented: "Even before we have opened a show home at The Chase people have shown a keen interest in the development. We have already signed up two eager buyers and are working with other potential purchasers who want to move here. We're trying to get the word out that, thanks to NewBuy, 95% mortgages are available on all our new homes in Walmer Bridge. Anyone who wants to know more should visit The Chase this Sunday to talk to Redrow about NewBuy."
Current prices at The Chase start from £189,995 for a three-bedroom semi-detached Letchworth style property. With NewBuy savings of around £9,500 could be enough for a deposit for the Letchworth.
"It's not just first time buyers who can benefit from NewBuy, the scheme can also help other types of purchasers. For example it's ideal for second steppers who need more space to raise a family but perhaps don't have substantial equity in their current home," Lesley added.
Featuring designs from Redrow's sought-after New Heritage Collection, homes at The Chase combine traditional Arts & Crafts inspired exteriors with bright, modern interiors.
Kitchens are well equipped with integrated top brand name appliances, while bathrooms and en-suites enjoy quality fixtures and fittings.
Redrow will soon be opening a show home at The Chase, but in the meantime purchasers can visit nearby developments, including Old Gate Park in Penwortham, Sandhurst Gardens in Chorley and at Buckshaw Village, to view a variety of show home designs.
"Customers will be delighted to know that if they act now, in the development's early stages they will have more properties to choose from and a greater chance of securing a home in their preferred position," Lesley added. "Plus, if you buy early in the build process you could personalise the interior by selecting the finish of things like the kitchen cabinets and the bathroom tiles."
Walmer Bridge is a popular residential area with a good range of local schools and facilities nearby including a supermarket and traditional country pub.
Nearby Longton offers a wider range of shops and the city of Preston and seaside town of Southport are within easy reach.
To discover more about buying a home with a 5% deposit and 95% mortgage, visit The Chase this Sunday (January 20).
See Also: Property News (8683), Redrow (278), The Chase (3), Walmer Bridge (2), Preston (4)
Date Published: 11 January 2013