Following the Government’s announcement of its new strategy to build new homes and boost homeownership by underwriting 95% mortgages to first time buyers of new homes and giving £400m towards new developments*, award-winning Crest Nicholson is also helping buyers purchase their first home with a variety of incentives at its Liberty Park development in Wainscott, Kent. First time buyers of the one and two-bedroom apartments or two-bedroom ‘Farleigh’ coach houses can choose to benefit from either a mortgage subsidy, 5% deposit paid or can purchase through the Government-backed FirstBuy scheme.

Annette Cole, Sales & Marketing Director for Crest Nicholson Eastern, said: “Given the tough economic climate and the difficult property market the country has experienced over the past few years, it is very encouraging that the Government is committing to enabling more homes to be built and more would-be purchasers to buy their first home.

“Crest Nicholson is very aware that first time buyers are finding it difficult to get onto the property ladder and we have always offered a range of schemes designed to help struggling buyers. They have proven highly popular at all of our sites in Kent and further afield and have enabled many buyers to own their own home when they would otherwise have been unable to.

“With mortgage subsidy, Crest Nicholson will subsidise the buyer’s mortgage by £500 every month for a whole year, resulting in a saving of £6,000. Alternatively, Crest Nicholson will pay 5% deposit for the buyer. 90% mortgages are becoming more widely available and so buyers need only raise 5% deposit themselves, making home ownership far more affordable and achievable. Both the mortgage subsidy and the 5% deposit are a gift from Crest Nicholson and therefore do not need to be repaid.

“Another option for first time buyers is the popular government-backed FirstBuy scheme. The initiative means that purchasers will own 100% of their home for just 80% of the price as Crest Nicholson and the Homes and Communities Agency offer a loan of up to 20% of the full purchase price.*** The loan is equity free for the first five years, after which a fee of 1.75% is payable. Loans must be repaid when the home is sold.

“Buyers can take advantage of one of these great incentives on either the one and two-bedroom apartments or the two-bedroom ‘Farleigh’ coach houses. Thanks to their open-plan designs, good room sizes, storage space and the peace of mind that brand new homes offer, these homes are ideal for first time buyers taking their first steps onto the property ladder.”

In addition to the one and two-bedroom apartments and two-bedroom coach houses, Liberty Park comprises stylish 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.

Prices for one-bedroom apartments are priced from £122,500, two-bedroom apartments from £133,500 and two-bedroom coach houses from £147,500. For further information please contact Crest Nicholson on 0870 752 4382 or visit www.crestnicholson.com/LibertyPark.