New Homebuying Scheme To Help Buyers Onto and Up the Property Ladder Available at Canal Reach

Adding to the recent positive property market news that house prices have recorded their biggest ‘spring bounce’ in eight years with prices in England and Wales increasing by an average of 1.6%*, Crest Nicholson is offering buyers a helping hand onto and up the property ladder at its Canal Reach development in Hinckley thanks to the ‘NewBuy’** scheme.

NewBuy will be operated by the home building industry and mortgage lenders working in partnership with the Government. Unlike previous schemes, NewBuy is aimed not just at first-time buyers but also at existing homeowners who are unable to find the high levels of deposit required by many mortgage lenders. With the scheme, purchasers need only provide a 5% deposit with the lenders participating in the scheme providing a 90% - 95% loan to value mortgage for buyers meeting their qualifying criteria.

Amanda Benjamin, Senior Sales Manager for Crest Nicholson said: “The introduction of NewBuy is excellent news for the UK property market. Since the dip in 2008, market recovery has been restricted, largely as a result of the lack of first time buyers able to raise the deposits required to own their own home. Not only will NewBuy enable first time purchasers to buy their own home with a more realistic and affordable deposit, but existing homeowners can also take advantage of the scheme to climb the property ladder.

“Canal Reach is a highly popular development with buyers at all stages of their home-owning career but many purchasers have been unable to afford the deposit required by mortgage lenders. NewBuy will help many buyers realise their dream of home-ownership and we look forward to welcoming them at Canal Reach.”

Canal Reach is a unique collection of 84 traditionally designed one and two bedroom apartments and two, three, four and five bedroom homes, set within easy reach of the nearby canal and open countryside, as well as the amenities of the town centre.

Prices at the current phase of Canal Reach start at £139,950 for a three bedroom Hampton. To find out more about Crest Nicholson’s Canal Reach development in Hinckley, please call into the on-site sales office which is open from 10:00am to 5:00pm daily or call 0870 754 0947.

– Ends – *http://www.express.co.uk/posts/view/309011/Spring-in-the-price-of-houses

**NewBuy terms and conditions • Only available on new build properties located in England, priced up to £500,000 • Purchasers must be UK citizens or those with a right to remain indefinitely in the country • The scheme is only available to those purchasing their principal home • You will also need to meet the mortgage providers own lending conditions

For further information about Crest Nicholson contact:

Kimberley Holder T: 0117 929 2311 E: kimberley.holder@grayling.com Kerry Harris T: 0117 929 2311 E: kerry.harris@grayling.com

About Crest Nicholson

Crest Nicholson is firmly established as a leading developer with a passion for not only building homes, but also for creating vibrant sustainable communities. The Company’s track record over nearly 50 years shows a demonstrable commitment to delivering innovative, design led, residential developments and large scale, mixed use, urban regeneration solutions. Its on-going emphasis on environmentally responsible housing and commitment to deliver truly low carbon sustainable schemes is evident by an ever increasing development portfolio. Crest Nicholson was proudly awarded the Queens Award for Enterprise in the Sustainable development category in 2007. The 5 year accolade is proof of a continued commitment to producing high quality developments that champion the very best principles in sustainability and design.

The Group is proud to hold more CABE Building for Life Gold Standards than any other developer. It remains a consistent top performer in the Next Generation industry benchmark and has retained 5 star builder status for customer service from the House Builders Federation for the last three years. Visit www.crestnicholson.com

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