Clinical psychologist Russell Norton discovered that buying his own luxury apartment at Taunton’s sought-after Firepool Lock development was more affordable than he thought, thanks to the Government’s new Help to Buy initiative. Having been keen to move out of a share house and own a property of his own, Russell was pleasantly surprised to discover he could secure a penthouse apartment with just five per cent deposit and 75 per cent mortgage.
Russell Norton, explained: “I’d been looking into buying my own home for some time, as I was fed up with renting and really wanted to have some space to call my own. Living in a shared house can have its benefits, but I felt the time had come to say goodbye to my housemates, and some of the compromises you have to make with shared living.
“When I first heard about Crest Nicholson’s Firepool Lock development, I assumed it would be out of my price range. I was really pleased to find out just how great value for money the homes are, but also that with the Government’s Help to Buy scheme I could comfortably afford the apartment and still have enough money left over for the furniture I needed.”
Russell has moved into a two bedroom Putney apartment, which enjoys a spacious open-plan living / dining room and kitchen, and an en-suite to the master bedroom.
Russell, continued: “I’d heard good things about the development, and a friend of mine has lived in a Crest home for 10 years with no problems, so I felt really happy that not only would I be living in one of the most desirable areas of Taunton, but also that I shouldn’t experience any of the maintenance issues that may occur with an older property. I found the sales staff really helpful when I was trying to make my decision about which flat type to buy. If I’m honest, I was completely bowled over with the size of the show apartment and could see that all the fittings and things were a far better quality than in the other newbuilds I’d seen, so it was an easy decision in the end.
“By using the Help to Buy scheme, I only needed a five per cent deposit and a 75 per cent mortgage, as you get an interest free loan from the Government for the remaining 20 per cent. It stays interest free for five years, so you get plenty of opportunity to save and repay the loan. I’ve found that owning my home is far more affordable than I thought, and in fact my mortgage repayments aren’t dissimilar to what I would be paying in rent on a two bed apartment.”
Firepool Lock is an eagerly anticipated development of new homes from award-winning housebuilder Crest Nicholson. Situated along the Bridgwater and Taunton Canal, it will comprise 240 homes, including one and two bedroom apartments, two bedroom coach houses and three and four bedroom houses, alongside an exclusive collection of impressive water front villas.
Prices at Firepool Lock using the Help to Buy scheme currently start at £111,960 for a two bedroom Putney apartment with undercroft parking.
For more information about Firepool Lock, please call into the on-site Sales and Marketing Suite (open daily 10am-5pm), call 0845 894 3373, email Firepoollock@crestnicholson.com or visit www.crestnicholson.com/firepoollock.