Award winning developer Crest Nicholson is hosting an exclusive Help to Buy event on Saturday 5th and Sunday 6th of June between 10am and 5pm at its new development, Langley Point, in Chippenham, Wiltshire.
Potential purchasers are invited for a socially distanced visit of the new two bedroom show apartment and will have the chance to find out more about the latest updates to the Government-backed Help to Buy: Equity Loan scheme. Guests will be able to ask questions and receive tailored advice to understand how they could use the scheme to secure their first home.
What is the Help to Buy: Equity Loan scheme and how does it work?
The Government-backed Help to Buy: Equity Loan scheme allows first time buyers to purchase a brand-new home with as little as a five percent cash deposit. The purchaser secures a conventional mortgage for just 75% of the home’s purchase price, with the remaining 20% provided by the Government as an equity loan. This equity loan is interest free for five years.
Updates to the scheme, which came into place last month, set a regional equity loan price cap to focus on helping those in areas who need it the most. For example, in South West England, Help to Buy can be used to purchase properties up to £349,000.
What are the benefits of the Help to Buy: Equity Loan scheme?
- Allows first time buyers to get onto the property ladder sooner, with just a 5% cash deposit
- Provides access to cheaper mortgage rates
- Loans are interest-free for five years
- After five years, loans will incur a competitive interest rate
- Loans can be reduced at any time
- There is no maximum household income cap
- Buyers have 25 years before they need to pay back the loan in full
- Legally buyers will own 100% of the property
Ralph Hawkins, Managing Director at Crest Nicholson South West, comments: “The home buying process can be confusing for first time buyers, especially when you add in initiatives such as the Help to Buy: Equity Loan scheme. On the 5th and 6th of June, our experts will be on hand to answer any questions potential purchasers may have – especially around the recent changes to the scheme, including the regional equity loan price cap. With a range of homes available on Help to Buy at Langley Point, I’d encourage those interested to please get in touch to book an appointment.”
Langley Point boasts a contemporary collection of one and two bedroom apartments in the centre of the historical market town of Chippenham. Sitting on the banks of the River Avon, the development is perfect for first time buyers with Chippenham train station just a five minute walk away, providing journeys to London Paddington in an hour and Bristol in 45 minutes.
Prices start at £177,000 for a one bedroom apartment and £229,000 for a two bedroom, with select homes available using the government-backed Help to Buy: Equity Loan scheme. To book your appointment for the event, please visit https://www.crestnicholson.com/developments/wiltshire/langley-point or call 01249 481613.
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