The return of the 95% mortgage at Aldermere

Following a treacherous few years for the property market, there’s good news for first time buyers: 95% mortgages are back and are available at Crest Nicholson’s Aldermere development in Cheshunt, Hertfordshire. In addition to this, Crest Nicholson is also offering its FirstBuy and EasyBuy purchasing schemes to help potential home buyers.

Annette Cole, Sales & Marketing Director for Crest Nicholson Eastern, said: “Crest Nicholson is proud to have offered a helping hand to buyers throughout the economic downturn; over 50% of homes at Aldermere have sold to first time buyers.

“For those stepping onto the property ladder, the idea of purchasing a home can sometimes seem like an unobtainable goal. In actual fact, it couldn’t be easier, with purchasers now only needing a 5% deposit to get on to the property ladder; a far cry from the typical 20% to 25% deposit still required by many mortgage lenders. With properties at Aldermere starting from £229,500, potential property owners can secure one of the two-bedroom homes on offer with a deposit of just £11,475.

“Whilst many first time buyers are incorrectly led to believe their deposits will only stretch to a one or possibly two-bedroom apartment, it will come as a nice surprise that potential buyers can even look to make their first home a three bedroom house, with a deposit of just £14,975.”

As well as 95% mortgages, Crest Nicholson’s FirstBuy and EasyBuy are incentives designed to help purchasers struggling to buy their own home. With EasyBuy, purchasers can own 100% of their own home and pay only 85% of the price. Purchasers pay no rent or interest on the 15% loan from Crest Nicholson for the first five years and the outstanding loan amount is paid back as a percentage of the property’s value at any time up to resale or after 10 years, whichever comes sooner.

With FirstBuy, 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 interest free for the first five years, after which a low rate of 1.75% is payable. Loans must be repaid when the home is sold.

The highly sought-after development comprises a selection of two, three and four-bedroom homes. With open-plan layouts and French doors that open onto the good sized gardens, spacious light-filled rooms and crisp interiors, the homes offer high spec luxury living in an attractive setting.

Aldermere showcases a variety of different architectural styles that complement the local vernacular and ensure the development sits well within its surroundings. Each property has a blend of the best traditional design with stylish, modern interiors and fittings. They also benefit from a range of eco-features to ensure that each home is extremely energy efficient and low maintenance.

The nearby Brookfield shopping centre provides fantastic shopping opportunities, as does Cheshunt with its range of high street and boutique shops and restaurants. Aldermere is conveniently located just two miles from Cheshunt railway station from where trains to London Liverpool Street have a 27 minute journey time. The A10 is less than one mile away, from which the A1(M), the M11 and the M25 can easily be accessed and London Stansted Airport is 25 miles away.

Prices for a two bedroom coach house at the development start from £229,500. For further information about Aldermere, please contact the sales and marketing suite on 0870 757 8192 or visit www.crestnicholson.com/aldermere.

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