Due to tough mortgage lending criteria, the average age for a first time buyer in the UK is now a frightening 43*. Together with the average deposit required standing at a terrifying £66,000**, many young would-be buyers are finding themselves priced out of the market and are banishing all hopes of buying their own home for a good ten or even 20 years. Daniel Smith (25) and Kelly Hughes (25) from Kent, however, have managed to buck the trend and have purchased a two-bedroom house at Crest Nicholson’s Liberty Park development with a deposit of just £6,280.

Kelly Hughes said: “We had both been living with our parents but had wanted to buy our own place for a while. We wanted a brand new property for a number of reasons but the main one was that we thought, thanks to the various incentives that developers can now offer, this would be the only realistic way in which we could buy a home. We bought at Liberty Park with the FirstBuy scheme, which meant we only needed a deposit of £6,280 which was 5% of the £125,600 FirstBuy price.

“We had thought that, given the economic situation and the fact that mortgage lenders are being extremely strict, we wouldn’t be able to own our own home for quite a few more years. We had considered renting but we really wanted to invest in our own home and future; we didn’t want to pay someone else’s mortgage. Also, if we were paying rent, we wouldn’t have been able to save very much each month to put towards a deposit.

“We’re so glad we found out about the buying schemes Crest Nicholson could offer. There is no question that without FirstBuy, we would still be living with our parents.”

Annette Cole, Sales & Marketing Director for Crest Nicholson Eastern, said: “It is not always easy for first time buyers to get onto the property ladder, particularly in the present climate. Crest Nicholson offers a range of buying schemes to help purchasers achieve their house buying goals, without which, they would really struggle to buy their own home and may end up renting or living with their parents for many years.

“First Buy is particularly popular with buyers as it enables buyers to own 100% of their home for just 80% of the price. Crest Nicholson and the Homes and Communities Agency offer a loan of up to 20% of the full purchase price*** which is equity free for the first five years. After this, a fee of 1.75% is payable and loans must be repaid when the home is sold.

“Many first time buyers have purchased their first home with FirstBuy and other purchasing schemes. Would-be home owners who think they are unable to purchase a property should come and meet with our sales team to find out about the various buying options. They may find out that owning their own home is not beyond their reach after all.”

Liberty Park comprises a collection of stylish one and two-bedroom apartments, two-bedroom coach houses and two, three and four bedroom houses. Externally, properties blend traditional design elements, such as weatherboarding and hanging tiles, with features including dormer windows and varied roof elevations to create a development that suits the Kent vernacular. Homes are situated on pretty tree-lined boulevards, surrounded by landscaped open space.

Liberty Park is located on Hoo Road in Wainscott. The development is well located and offers very good commutability to London and the wider Kent area. Nearby Strood Mainline Station provides a fast train on the High Speed 1 line to St Pancras in just 32 minutes. The station also offers efficient services to London Bridge, London Waterloo East and London Charing Cross in just over an hour and good access to the M2 motorway and A2, which are just minutes away.

*http://www.myfinances.co.uk/mortgages/2011/11/21/government-to-help-first-time-buyers-onto-property-ladder
**http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8769113/House-prices-average-deposit-now-66000.html
*** Up to £280,000