A recent report has revealed that the number of first-time buyers grew 22 per cent between 2012 and 2013*, demonstrating that aspiring buyers are no longer so stymied by mortgage lending and affordability.
Record low mortgage rates combined with an increase in the number of areas that are affordable for first-time buyers have facilitated this transition in the market, while the number of first-time buyers using their disposable income for mortgage repayments has fallen from 50% to 30%, indicating that the nation’s finances have been healthier since the height of recession.
For first-time buyers, however, once they’ve overcome the financial hurdles, choosing a property can be tough. Deciding whether to invest in a second-hand property, which inevitably will require additional expenditure on renovations or to plump for a new build property that offers a blank canvas for its occupants is for many ultimately a no-brainer, particularly in Epsom, where almost 50% of buyers in the latest phase of Crest Nicholson’s Noble Park development are first-time buyers.
Christine Tiernan, Sales and Marketing Director, Crest Nicholson South, comments: “Buyers continue to be attracted to Noble Park thanks to a mix of practical yet stylish interiors, excellent commuter links and the stunning setting.
“The refurbished apartments have thoughtfully planned large open plan layouts that are flexible enough to accommodate the varying requirements of contemporary lifestyles. With floor to ceiling glazing and either a private balcony or terrace, each apartment is flooded with natural light and boasts a stunning setting for added ‘wow factor’.”
Characterised by the high-end finish synonymous with Crest Nicholson, the contemporary kitchens come complete with a range of integrated Bosch appliances including oven, hob, dishwasher and fridge / freezer. Bathrooms and en suites are fitted with luxury Villeroy and Boch sanitaryware emulating the trend for hotel bathrooms, with an attention to detail that incorporates smart chrome accessories.
Each apartment benefits from good sized double bedrooms, and in apartments with more than one-bedroom, the master suite comes with an en suite. Storage is plentiful, with cupboards in hallways that are designed to house every day clutter and save interiors from unsightly cleaning products.
Noble Park is located close to some beautiful rural areas around Epsom. The site is a short distance from Epsom Common and Horton Country Park, while Epsom Downs and its iconic race course are also in close proximity. For commuters, Ewell West station and Epsom Station are within a short distance of the development, with train journeys into London taking approximately 35 minutes. Road links are also strong, with the M25 and A3 both within easy reach to.
Crest Nicholson is delighted to offer an array of initiatives to help house purchasers secure their dream home at Noble Park. Help to Buy is available across all properties, as is NewBuy, and for buyers deterred from moving due to fees, Crest Nicholson can pay stamp duty costs or provide a mortgage subsidy for residents’ first year in their property.
Prices at Noble Park start from £295,000 for a one bedroom apartment or £236,000 with Help to Buy. For further information please contact Crest Nicholson on 0845 872 7658 or visit www.crestnicholson.com/noblepark
*Halifax First Time Buyer Review
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