SmartNewHomes

First time buyers Paul and Alison Clark were relieved to discover an affordable way onto the property ladder at Broadland Meadow in Loddon.

  • By

  • Before they heard about First Buy, first time buyers Paul and Alison Clark feared they would have to spend many years saving before they could afford to purchase their very own property in Loddon, Norfolk.

    The young couple both had careers in teaching that provided a healthy household income, however the hefty deposits required by many mortgage lenders seemed likely to keep their ideal Loddon property beyond their reach for the foreseeable future.

    This all changed when Paul and Alison discovered how they could take advantage of the First Buy scheme to step onto the property ladder with just a 5 per cent deposit at Taylor Wimpey's Broadland Meadow development in Loddon.

    "We had been renting a house in Loddon for about four years, but we needed a bigger place where our two young children could grow up and we wanted to become homeowners," says Paul, 31.

    "It was frustrating because, even though we have a good income, we still found that saving enough for a deposit was too hard. So we began to doubt whether we would be able to purchase our own home anytime soon - until we learnt about First Buy.

    "We had a courtesy call from the sales executive at Broadland Meadow who told us all about the new homes to buy in Loddon with just a 5 per cent deposit under the First Buy scheme. This was amazing news for us to receive because it meant we could secure our very own home straight away."

    First Buy offers qualifying buyers like Paul and Alison the chance to purchase selected properties for sale in Loddon at Broadland Meadow for just 80 per cent of the full price, including a 5 per cent deposit, subject to status.

    The scheme works through a joint loan of 20 per cent from the Homes and Communities Agency and Taylor Wimpey, which is repayable at the end of the 25 year mortgage term or when the property is sold. To be eligible, purchasers must be currently without a mortgage and their total household earnings should be less than £60,000.

    After hearing about First Buy, Paul and Alison visited the development to see which of the stunning properties the scheme had put within their reach.

    "Because our jobs and our young family keep us really busy, we wanted to buy a new build property so that we could be confident that it wouldn't require any repairs or DIY. Taylor Wimpey gave us this sense of security," says Paul.

    "We chose a four bedroom 'Oakford' property because of its spacious layout. Even with two young children, two year old Ella and five month old Harry, we could see that there would be plenty of space for us all.

    "The living/dining room is such a good size that it still feels comfortable even with the children's toys everywhere.

    "Taylor Wimpey has been brilliant with us throughout the moving process. As first time buyers, we appreciated how the sales executives guided us through our purchase and we've been really impressed with the whole service."

    There's a superb selection of properties for families currently available at Broadland Meadow, including three bedroom houses priced from only £179,995 and four bedroom homes from just £234,995.

    All new homes at the development are completed to a high standard specification, including energy efficient central heating, double glazing and a fitted kitchen with integrated oven, hob and hood.

    Broadland Meadow enjoys a convenient location bordering the picturesque River Chet in the thriving village of Loddon, just 12 miles from Norwich city centre. Loddon benefits from a range of amenities for day-to-day living, including high street and independent stores, cafes, pubs and a supermarket.

    Parents will appreciate the development is within walking distance of Loddon Junior School and Hobart High School, while the well-regarded independent Langley School is two miles from home.

    Reedham Railway Station is only six miles from Broadland Meadow for direct services to Norwich and Lowestoft, and connections to Cambridge, Ipswich and London Liverpool Street, with journeys to the capital taking just over two hours from Reedham.

    First Buy closed to new applications in April 2013. For the latest incentives, click here.

    Some information contained herein may have changed since it was first published. SmartNewHomes strongly advises you to seek current legal and/or financial advise from a qualified professional.

    * DISQUS *
    comments powered by Disqus