It has been well documented that the high levels of deposit required since the economic downturn have prevented many would-be homeowners from buying their own home. First time buyers Helen Dovey and Melvyn Palmer have been able to take their first steps onto the property ladder at Crest Nicholson’s Kings Warren development at Red Lodge, thanks to the developer paying 5% towards their deposit. Other potential homeowners who reserve a home at Kings Warren before 31st December can also benefit from this early Christmas present from Crest Nicholson.
Alternatively, buyers may take advantage of the Government-backed NewBuy scheme, which enables buyers to purchase their own home with just a 5% deposit – a far cry from the 20%-25% many lenders still require.
Helen Dovey (30), who works for the National Health Service, said: “Having a large enough deposit was the biggest hurdle we faced in buying our own home. We lived with Melvyn’s parents for nearly a year in order to save on rent – which can often be higher than monthly mortgage payments. We were able to save a considerable amount this way but it was Crest Nicholson’s offer to pay 5% towards our deposit that really made the difference and enabled us to get on the property ladder ahead of schedule.
“We saw an advert for Kings Warren and the fact that Crest Nicholson could help first time buyers through various purchasing schemes and incentives so we came down here to have a look. We knew straight away that we wanted to buy a home here. We loved the fact that it was brand new. As first time buyers, we owned no furniture or furnishings so the fact that all appliances were included was a big attraction, as was the fact that we didn’t have to spend money repairing or redecorating; we could simply move in and enjoy living in our new home from day one. To buy new was definitely the cheaper option.
“The size and standard of the Crest Nicholson homes on site were fantastic and we couldn’t believe the prices. We had expected that we would only be able to afford an apartment but, thanks to the extra deposit, we were able to buy a three-bedroom semi-detached Elmswell house. Given the current market, to be able to make our first home a house is absolutely wonderful. The room sizes are brilliant; in other newly built homes we found that the third bedroom was little more than a box room but that’s certainly not the case here.”
Melvyn Palmer (32) who works for a motorsport logistics company, said: “It wasn’t just the house itself that appealed to us but Kings Warren as a whole. We liked the fact that there was a wide variety of house designs at the development, from smaller apartments to large townhouses and everything in between; they weren’t just identical homes as can often be the case on new developments.
“The facilities on site, such as the Sports Pavilion and the green spaces are excellent and really make the development feel like a small village. It will be even more fantastic when the Village Centre with its shops and restaurants opens. There is a really friendly atmosphere; everyone seems to be very happy living here – we certainly are.”
Helen concludes: “Melvyn works away quite a bit but I feel perfectly safe being here on my own. I love coming back to our own home. Other people keen to get on the property ladder should definitely come and talk to Crest Nicholson’s sales team – they may be closer to owning their own home than they think.”
Admiral Walk, the latest phase of homes at Kings Warren, has recently launched. The collection of elegant, traditionally-designed properties has been designed to be in keeping with the local Suffolk architectural vernacular. The mix of 44 stylish two-bedroom coach houses, two and three-bedroom cottages and four-bedroom family homes, provides the perfect choice of home whatever the buyer’s needs.
The new primary school on site, St Christopher’s School, opened in September and work is due to commence later this year on the new village centre, which will provide shops, financial/professional services, restaurants, cafes, pubs and offices as well as a crèche.
Admiral Walk at Kings Warren is ideally situated close to the county boundary that separates Cambridgeshire from Suffolk and is within easy reach of the main population centres, as well as being perfectly located for easy access onto the A11, A14 & M11. The development offers a peaceful and idyllic rural setting, whilst the 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. From Cambridge you can find direct trains to London Liverpool Street in under an hour.
For more information about Admiral Walk or Kings Warren as a whole, please contact the Sales & Marketing Suite, open daily 10am-5pm, at Yarrow Walk, Red Lodge, Suffolk, IP28 8YL on 0870 7551 632 or email firstname.lastname@example.org. Alternatively, visit www.crestnicholson.com/kingswarren.