With the ongoing financial situation, it’s no surprise that first time buyers are seeking to take advantage of incentives being offered by house builders to get on the property ladder. One such new buyer, who works in London, was lured out of the capital by the affordability of Crest Nicholson’s new development in Reading.

David Flowers, 27, a recruitment consultant, bought a one bedroom apartment at the Q2 development in Queens Road. He commented: “Despite price falls, the average price of property is still far too high for me to be able to buy in London. I wanted to buy in an area I could comfortably afford and take advantage of deals to be had in the current climate. Crest Nicholson’s EasyBuy scheme helped to make this possible and is an excellent way of getting on the ladder.”

The popular EasyBuy* incentive offers new home buyers the opportunity to secure stylish apartments from just 85 per cent of the asking price. The EasyBuy scheme offers the following advantages to first time buyers:
• Purchasers pay from just 85 per cent of the purchase price now
• Buyers own 100 per cent of their new home from day one - this is not a shared ownership scheme
• No rent or interest is paid on the outstanding loan amount for the first five years and only a nominal amount of interest thereafter
• The outstanding loan amount is paid back as a percentage of the property's open market value at any time up to resale or after 10 years, whichever is sooner

David continued: “Q2 is so close to Reading train station that I can walk there in a matter of minutes, so it’s perfect for commuters like me. However, it is still in a quiet location despite being so close to town. I had to live at home with my parents to save a deposit to put towards my first home and I feel that it has really paid off, especially as I have been able to capitalise on lower prices.”

Tracey Brady, Sales and Marketing Director, Crest Nicholson South commented: “First time buyers are still having a challenging time when it comes to securing a mortgage in the current climate when trying to meet the banks’ criteria, so it isn’t surprising to see commuters capitalising on lower prices outside of London. A 20 to 25 per cent deposit is required for the best mortgage deals at the moment, so many first time buyers are relying on developer incentives or the bank of mum and dad to secure their first home.”

Q2 has been constructed according to a highly contemporary, modern design anchored by a distinctive circular tower. Many of the apartments feature their own balcony or terrace, offering purchasers the opportunity to really maximise their living space. Unique to this development, all residents will have access to a stunning roof garden offering planted seating areas in which to relax.

The development is particularly appealing to homeowners who depend on public transport links. Perfectly located for professionals and commuters, Reading train station is only a short walk away, with a frequent train service to London Paddington taking just 25 minutes, and Junction 11 of the M4 is only three miles away.

The Oracle, which offers over 90 shops, 25 restaurants, cafés and bars and a multi-screen cinema, is also just a short walk away from the development’s central Queen’s Road location.

Prices at Q2 start from just £157,950 for a one bedroom apartment. For buyers who qualify for the EasyBuy scheme, this could equate to £124,463. For more information please contact the Sales and Marketing team on 0870 755 1628 or visit www.crestnicholson.com/Q2.

*EasyBuy is available on selected plots only.