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 Hanham Place development in Bristol and at its Sixty8 at the Marina development at Portishead 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.
Laura Osborne, 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.
“Hanham Place and Sixty8 at the Marina are highly popular developments 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 Hanham Place and Sixty8 at the Marina.” Hanham Place is a stylish upmarket development of 34 properties providing a traditional collection of three bedroom semi-detached and four bedroom detached homes in a well-regarded area of Bristol, which is ideal for families and those looking to move into a larger property. Prices at Hanham Place currently start from £210,000 for a three bedroom Huntingdon house type and £325,000 for a four bedroom Cornwood house. For more information, please call 0845 894 3403 or email Hanhamplace@crestnicholson.com
Sixty8 at the Marina is Crest Nicholson’s latest phase of its established development at the Marina in Portishead. The development combines a stylish collection of 60 one and two bedroom apartments, as well as eight exclusive two bedroom penthouses. The properties are set in a stunning location in Port Marine, affording some of the best views of the marina and lock from their private balconies.
The one bedroom apartments at Sixty8 at the Marina are available from £144,950 and the two bedroom apartments are available from £195,000. For more information, please visit the on-site Sales and Marketing suite, which is open seven days a week from 10am to 5pm, or call 0808 100 6009 or visit www.portmarine.co.uk.