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 Hunts Grove and Cheltenham Grange developments in Gloucestershire 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.
Tim Ridges, 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.
“Our Gloucestershire developments are proving 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 our developments.”
Whitstone Hundred, which is set in an enchanting location close to Gloucester city centre, the M5 and the glorious Gloucestershire countryside, offers first time buyers and families a choice of 2,000 fantastic properties. These include a range of two bedroom apartments and two, three and four bedroom homes, built in a variety of sizes and styles to suit all types of buyer. The historic village of Hardwick is also close by with its popular green and pond, as well as a selection of public houses.
Prices at Whitstone Hundred currently start at £131,950 for a two bedroom Sandown house type, £161,950 for a three bedroom Huntington house and £264,995 for a four bedroom Chester house. For more information about Whitstone Hundred, and the properties available, please contact the sales team on 0870 753 1866 or email email@example.com.
Cheltenham Grange offers homebuyers a collection of two, three and four bedroom homes set within the aspirational residential enclave of Spring Grove Park on the edge of Cheltenham and includes a range of house sizes and styles, perfect for buyers of all ages and circumstances.
Prices at Cheltenham Grange currently start at £224,950 for a three Bedroom Huntingdon house, £269,950 for a four bedroom Manstead and £324,950 for a four bedroom Meadvale house. For more information please call into the on-site Sales and Marketing Suite (Daily from 10 am-5 pm), call 0845 894 3303 or email Cheltenhamgrange@crestnicholson.com.