If you are dreaming of owning your own home and saving every penny you earn for a deposit, then take a look at the Help to Buy Equity Loan. You could be closer to saving your deposit than you think.
We are delighted to be bringing an exciting, contemporary and affordable development of two bedroom apartments in Gleadless to the market and purchasers can benefit from the Help to Buy Equity Loan.
The bespoke development, located at 781 Gleadless Road, boasts six individually designed apartments which have all been finished to the highest of standards. They are ideally located close to public transport links and main routes.
With the Help to Buy Equity Loan it makes it possible to buy one of the apartments with just a 5 per cent deposit. The Government lends you up to 20 per cent of the cost of your newly built home, so you’ll only need a 5 per cent cash deposit and a 75 per cent mortgage to make up the rest. This gives you the chance to take advantage of cheaper mortgage rates offered at 75 per cent.
You won’t pay interest on the 20 per cent loan for the first five years of owning your home.
The apartments start from £125,000 up to £150,000, however the Help to Buy Equity Loan makes the apartments very affordable – from as little as £298.00 per calendar month with a 35-year mortgage*
For example, plot 5 is valued at £125,000 and the price with Help to Buy is £100,000 with the purchaser providing a 5 per cent deposit of £6250. With a 25 year 75 per cent mortgage on the property the purchaser would pay £385 per month or £298 with a 35-year mortgage*
All apartments are decorated in contemporary white, with Walnut veneered doors throughout. The bathrooms and en-suites feature wall hung vanity units, designer ceramic tiling and anti-slip vinyl floorings.
The designer kitchens are in high gloss white, some with central islands, with fully integrated appliances from CDA, including oven, hob, extractor, fridge freezer, washer/dryer, and dishwasher.
The insulation installed in the apartments is at a 20 percent higher level than required under current building regulations and acoustics insulation is provided to all internal walls, and floors.
The private development has secure parking through a gated entrance and communal gardens. In addition, each apartment comes with its own secure storage space, with internal access via the communal entrance as well as a cycle store and a dedicated parking space, together with access to a communal visitor parking space.
If you want to take a look round the apartments we are holding an open day on Saturday 22nd April. You will be able to view all apartments and two fully furnished show apartments on the day and speak to members of the Redbrik team about the Help to Buy options.
Peter Lee, Director at Redbrik, said: “The Help to Buy Equity Loan is a fantastic way for first time buyers to get a foot on the property ladder.
“If you rent in the Gleadless area you can expect to pay around £600 per calendar month in rent so to be able to be a homeowner for £298 is great news.
“I honestly believe this is the best development in the area and Help to Buy really does assist in making the apartments very affordable to first time buyers. The time to take up the offer of Help to Buy is definitely now – this Government scheme may not always be available.”
*Monthly repayments are only a guide as at time of print and rates can go up and down and all mortgage rates are subject to status.
Example apartment at £125k here.