Pay Only 70% of the asking price now.
Owning an easy to maintain, energy efficient home in Malton is more affordable than ever before, especially at Priorpot Mews, where purchasers can benefit from an equity loan for up to 30% of the purchase price.
Jointly funded by developer Redrow and the government, through the Homes and Community Agency (HCA), this equity loan is interest-free for the first five years and means that a three-bedroom ‘Fairwood’ normally priced at £140,000 could be purchased for an initial outlay of just £98,000.
HomeBuy Direct is open to people who have an annual household income less than £60,000, including first time buyers and people re-entering the property market following a change in circumstances, eg. divorce or the breakdown of a relationship.
Priorpot Mews is one of 33 Redrow developments across England to offer HomeBuy Direct, between them providing almost 700 affordable properties.
Customers will own 100% of their home from day one – but may only have to pay as little as 70% of the initial purchase price. They can start purchasing the remaining share in instalments after just 12 months.
Patsy Aicken, sales manager for Redrow Homes (North), says: “With Redrow matching the government pound for pound to provide the 30% equity loan - helping with the need for a large cash deposit - and the loan being interest free for the first five years, this is an excellent opportunity for people to get the brand new home they’ve always wanted at a price they can afford.
“The fact they potentially only need to borrow 70% of the purchase price will help give purchasers access to mortgage deals and, with new homes easier to maintain, more energy efficient and potentially cheaper to run than older second hand properties, it all serves to make new homes like the Fairwoods at Priorpot Mews very appealing.”
The three-bedroom, mid-terrace Fairwoods are perfect for those buyers taking their first steps on the property ladder. They feature an open-plan lounge/dining area, separate kitchen and cloakroom on the ground floor and three bedrooms, including one with en-suite show room above.
Priorpot Mews itself offers home owners the best of both worlds. Situation in Norton, within walking distance of Malton town centre, it’s convenient for all local amenities as well as the A64, which offers easy access to York; yet it is also ideally located for country walks and the coastal areas of Scarborough, Filey and Whitby.
For details of HomeBuy Direct go to www.redrow.co.uk/homebuydirect.
See Also: Property News (5994)
Date Published: 12 June 2009
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