With the average first time buyer having to save for eight years for a deposit on their new home*, award-winning developer Crest Nicholson is helping buyers onto the property ladder at its Kings Warren development in Red Lodge, Suffolk with a 5% deposit paid scheme on its three-bedroom Chelsworth homes.
Annette Cole, Sales & Marketing Director for Crest Nicholson Eastern, said: “Saving the deposit can often be the biggest hurdle for young buyers and with reports stating that more and more young people are struggling to get onto the property ladder**, Crest Nicholson is committed to helping them get a deposit together with this boost of an extra 5%. This incentive is also designed to help potential buyers get more for their money and the three-bedroom houses at Kings Warren are ideal for young couples and young families looking for a home to grow into.”
The 5% deposit paid scheme is aimed at helping families or first time buyers get onto the property ladder with a boost from Crest Nicholson. If buyers secure a 90% mortgage, they would only need to pay a 5% deposit themselves, making a deposit for the three-bedroom-Chelsworth priced at £175,000 an affordable £8,750.
The Chelsworth three-bedroom home is split across two floors, with the ground floor housing an open-plan kitchen and dining room with doors leading to the garden, as well as a separate living room and downstairs cloakroom. Upstairs, the first floor features three bedrooms, including fitted wardrobes in the master bedroom, and the family bathroom. The master bedrooms benefits from an en suite bathroom.
Homes at Kings Warren come in a range of different styles and just five, two and three-bedroom houses remain for sale in the current phase. When complete, Kings Warren will comprise 1,250 homes in addition to community facilities. As well as offering a peaceful and idyllic rural setting, an excellent road and rail infrastructure located close by means that residents are well connected. Kennet Station is located just three miles away and provides frequent and direct rail links to Cambridge in just 30 minutes. Alternatively, Cambridge city centre is just 18 miles by road and there is also easy access to the A11 and nearby A14. Newmarket is just 7 miles away and provides a good choice of amenities.
Crest Nicholson is building a new school on site which will open this September. Planning approval has also just been received for a village centre which will be coming to the site this autumn. The village centre includes plans for shops, financial/professional services, restaurants, cafes, pubs and offices as well as a crèche.
For more information about Hunter’s Chase, Kings Warren or to register your details for Admiral Walk, the next phase of two, three and four-bedroom homes, please contact 0870 755 1632 or visit www.crestnicholson.com/kingswarren. * http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8354385/Eight-years-to-save-for-a-deposit-as-first-time-buyers-forced-to-rent-for-longer.html ** http://www.myfinances.co.uk/mortgages/2012/05/30/young-adults-living-with-parents-up-20-to-3-million