Make a date in your diary for a home buying boost.

Buyers who believe a brand new home is beyond their reach are being invited to attend a special event in Lancaster by homebuilder Redrow.

The event on Sunday, January 29, at the company’s contemporary Abode at Riverside View development, is aimed at filling in the facts about the Government-backed equity loan scheme that helps people buy a brand new home with only a 5% deposit. 

Claire Jarvis, sales director for Redrow Homes (Lancashire), said misleading news stories last year had left people feeling confused about Help to Buy with many assuming it was no longer an option.

But she added: “While a part of the scheme – the mortgage guarantee element – was abandoned,  the loan scheme continues to help house hunters buy a brand new property, whether they are first time buyers or previous home owners.

“The event is being held to set the record straight, as well as giving people all the information about it and how it can help them get the property they have always dreamed of.”

Under the Help to Buy scheme, the Government will lend a buyer up to 20% of the value of their new-build home through an equity loan that’s interest free for five years. Buyers should then only need to secure a 75% mortgage from a lender of choice and provide a 5% deposit to purchase their new home.

It means that the initial cost of the home is reduced, which is a boost for people just stepping onto the property ladder in those difficult early years, or makes it easier for those who need more space to move on and ‘buy bigger’.

Abode is Redrow’s more contemporary style of living, with  an ‘uncluttered’ but smart façade, wide open living spaces and plenty of appealing in-vogue features. Several house styles, for instance, are suited to shared living with each bedroom having its own wet room or en-suite.

Situated off New Quay Road, on the banks of the River Lune and just a short distance from Lancaster town centre, the collection of stylish three-bedroom homes offer a contemporary lifestyle, combining the space and energy of an apartment-style property with those luxurious individual touches. 

Discreet storage units create faux walls and optional extras include outdoor kitchens and low maintenance artificial turf, perfect for busy people who want to just get home, kick back and relax.

The Abode homes currently start from £219,995 for the ‘1050’ style house. With Help to Buy, the initial cost is reduced to just £175,996 and a 5% deposit of only £10,999 should be sufficient to secure the deal.

More information can be obtained by attending the Help to Buy Event at the development in New Quay Road between 10am and 5.30pm on Sunday, January 29.

 For more details about the event and Abode at Riverside View call 01524 925797 or go to www.redrow.co.uk/abodelancaster.


Inside the Abode show home at Riverside View, Lancaster.

Editor’s footnote:  
Established more than 40 years, Redrow Homes is one of the UK’s leading house builders, with a £1.4 billion turnover and building more than 4,700 homes in 2015/16 financial year. 

Operating across England and Wales, there is a strong emphasis on providing high quality homes in prime locations and its housing ranges feature designs to suit all lifestyles:

•    The Heritage Collection combines traditional looking, ‘Arts & Crafts’ influenced exteriors with bright, modern, high specification interiors.

•    The classically styled Regent Collection features Georgian inspired street scenes and architecture.
 
•    Redrow has also launched a new brand of contemporary homes in Abode, which boast open plan layouts with streamlined kitchen, dining and lounge areas, high specification wet rooms and outdoor living space. 

Redrow also creates exclusive bespoke developments in both rural and urban locations.  The company has won numerous awards over the years, including, most recently, the Gold Award for Best Large Housebuilder at the What House? Awards 2015 and 2014, Best House Design at the Sunday Times British Home Awards 2015 and the 2014 Building Awards Housebuilder of the Year. Its ‘My Redrow’ online tool won the overall Customer Engagement category at the 2013 Peer Awards for Excellence. Web: www.redrow.co.uk.