Homebuyers looking to step up the property ladder in Bentley Heath have been making increasing use of the Government’s Help to Buy scheme. At Dorridge Gate, a development of new homes from award-winning housebuilder Crest Nicholson, a number of families have already used the scheme to purchase some of the larger properties available, making the most of the scheme’s £600,000 ceiling.
Requiring just a five per cent deposit on a property, a 75 per cent mortgage and a 20 per cent Government loan on new build homes worth up to £600,000, the finances necessary to ascend the property ladder with the scheme are instantly more affordable than going it alone. Simultaneously, Help to Buy also has an impact on the types of properties that second steppers can aspire to live in. Whilst a minimal move from a one bedroom flat to a small two bedroom house might previously have constituted a second step, the initiative has made three and four-bedroom forever family homes in desirable locations a viable purchase.
At Dorridge Gate in Bentley Heath, for example, The Calder is on the market for £426,360 with Help to Buy. With a full market value of £532,950, the scheme alleviates the difficulty of having to raise the extra 20 per cent, without jeopardising the ability to accrue equity.
Designed with growing families in mind, the Calder features a living room opening directly onto the spacious garden, which is also clearly visible from the open plan kitchen / breakfast room, making it easy for parents to keep an eye on the little ones. There’s also plenty of space for growing families upstairs, with an en-suite master bedroom featuring it’s own walk-in wardrobe, a further en-suite double bedroom, plus two more double bedrooms served by the large family bathroom.
Amanda Benjamin, Sales and Marketing Director at Crest Nicholson Chiltern, said: “Whilst first-time buyers have taken full advantage of the Government’s Help to Buy scheme, it seems that very few second-time buyers are aware of how it can assist them too. There have been numerous reports outlining how people are putting their plans to start a family on hold because their homes are too small, but Help to Buy can help them to upsize into a property that is designed for either a growing or established family.
“Help to Buy has helped a number of the families at Dorridge Gate unlock their dream home, safe in the knowledge that their loan is underwritten by the Government. We encourage anyone who may be looking to upsize to contact us.”
Dorridge Gate comprises a traditional collection of two, three and four-bedroom family houses. Located in Bentley Heath, residents can enjoy the tranquil setting and a village lifestyle, while still being in easy reach of Solihull and Birmingham, with direct links via the M42 at junction 4 or along the A41.
The Calder house type at Dorridge Gate is currently available from £426,360 with Help to Buy. For further details, please visit the Sales and Marketing Suite (open Thursday-Monday, 10am to 5pm), call 01564 330356, email firstname.lastname@example.org or visit www.crestnicholson.com/dorridgegate. You can also find Crest Nicholson on Facebook at www.facebook.com/CrestNicholsonMidlands