SmartNewHomes

Buyers have a superb chance to step on - or up - the property ladder for less at Taylor Wimpey's popular developments in Colchester.

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  • The new government Help to Buy shared equity scheme is available now at The Quarters, Blenheim Park and Praecedo, enabling first time buyers and existing homeowners to purchase their new home for 80 per cent of its full price, with only a 5 per cent deposit.

    For example, the stylish two bedroom 'Almond' apartment at Blenheim Park can be secured under Help to Buy for an 80 per cent shared equity price of just £107,996 (full price £134,995) with only a 5 per cent deposit as low as £6,750.

    Alternatively, for those in the market for a spacious three bedroom house, the 'Elmstead' at The Quarters, and the 'Middlebrook' at Praecedo, both priced at just £184,995, and are available under Help to Buy for an 80 per cent shared equity price of only £147,996, with only a deposit of £9,250.

    Because Help to Buy customers only require a 75 per cent loan-to-value mortgage for their new property, they can access a much more competitive range of deals from lenders, making it even more affordable to live in this historic, well-connected town.

    Michael O'Leary, regional sales and marketing director for Taylor Wimpey, says: "Help to Buy is the perfect solution for would-be buyers who are struggling to step on or up the property ladder.

    "This superb scheme makes it possible to secure an apartment or a family size home for less in Colchester and then enjoy the benefits of lower monthly mortgage repayments, leaving the homeowner free to enjoy the benefits of life in this wonderful location."

    The Help to Buy shared equity scheme involves a government loan of 20 per cent and is available on new build properties up to the value of £600,000. There is no salary cap for purchasers using the scheme.

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

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