People looking for a new home in Bath are being offered a helping hand by regeneration specialist Crest Nicholson, thanks to the launch of the Government’s Help-to-Buy scheme at its Bath Riverside development.
Launched at the beginning of April, the Help-to-Buy scheme was announced in this year’s budget and gives people on all stages of the property ladder the opportunity to purchase a new home with a deposit of just five per cent.
Under the scheme, the Government will lend up to 20 per cent of the value of the property through an equity loan.
This means the purchaser will have to pay just 80 per cent the cost of the property – made up of a 75 per cent mortgage and five per cent deposit.
For example when purchased under Help-to-Buy, one of the penthouse apartments at the development will cost £324,000 (a 20 per cent reduction off the £405,000 list price) with purchasers needing a deposit of £20,250.
Or for one of the two-bedroom apartments under Help-to-Buy, the cost will now be £288,000 with a deposit of £18,000.
Susan Young, sales and marketing director at Crest Nicholson Regeneration said: “Help-to-Buy is a great opportunity for everyone looking to buy a new property.
“What’s so good about the scheme is that it is available for all purchasers, whether they are first time buyers or looking to take the next steps on the property ladder.”
Available on properties up to the value of £600,000 the dream of owning a new home at this iconic new development is a reality for all types of house hunter.
Susan added: “The properties at Bath Riverside have been very well received since their launch and we are extremely pleased to be able to offer Help-to-Buy on these brand new homes.
“With the scheme open to properties up to the value of £600,000 means that all properties currently available at the development fall within the Help-to-Buy initiative and is great news for those looking to buy here.”
With private sales at the development now topping 100, current availability includes three, three-bedroom apartments. Located in the Liberty Gardens phase these oversized properties in particular are unlike anything else in the city and are ideal for those who are either looking to downsize from their period-style property or want to make the next step up the property ladder.
Its private courtyards, landscaped seating areas and contemporary design have also attracted a rich mix of purchasers to the development.
Its proximity to Bath city-centre is ideal for those who either work in the city centre or need to catch a train further afield and with easy access to the riverside and its pedestrian towpath those wanting a direct and car-free route into the heart of the city can be there in a matter of minutes.
For further information please call 0845 8945 888 or visit www.bathriverside.co.uk. The marketing suite on Victoria Bridge Road is open daily from 10 am to 5pm.