Last chance to buy Redrow’s apartments in Oldham for under £60,000

Award-winning Redrow Homes, recently crowned the nation's Best Large Housebuilder at the What House? Awards 2011, has just a handful of apartments left unsold at its popular Spinners Mews development in Chadderton, on the western outskirts of Oldham. Thanks to the company's easi:buy scheme, the up-front price of the one-bedroom apartments is now under £60,000.

"Spinners Mews has been a popular choice with first-time buyers looking for an affordable home that's easy to manage and efficient to run," says Lesley Myers, area sales manager for Redrow Homes (Lancashire). "Now that we have such limited availability those who long for a home of their own may fear they will have to miss out if they haven't already saved a large cash deposit, but they could find that are able to step on to the property ladder with savings of around £3,000."

The shared equity scheme means that cash-strapped would-be buyers can now get a foot on the property ladder with a deposit of £2,920 and a mortgage for £55,761. The full market price for the home is £72,995, but the balance can be deferred for up to ten years interest-free. The equity loan can be paid back at any point during that period if funds become available, or if the property is sold.

Lesley adds: "One of the advantages for ‘easi:buy' customers is that because they only need a mortgage for a maximum of 85% of the property's value they should have access to some of the better mortgage interest rates; usually reserved for those with large deposits or substantial equity in an existing home."

Spinners Mews is ideally situated for the amenities of Oldham, including shops, sports and leisure facilities and open spaces, and has excellent road links: the M60 is close by, as is the A62 Manchester/Oldham road and the A663 for Rochdale. It's under a mile to two rail stations and there are good bus services for local destinations. The marketing suite for these new homes in Greater Manchester is open from Thursday to Monday, from 10.00am to 5.30pm, giving prospective buyers a chance to talk to the Redrow Homes team about their options.

"While buying a home may seem daunting, particularly if it's your first, our friendly experienced sales team are here to help. They will guide customers through the home buying process, making it as simple and straightforward as possible. We've even produced an easy to follow video guide to explain how ‘easi:buy' works," Lesley continues.

With just a handful of apartments unsold at Spinners Mews, housebuilder Redrow Homes is offering a last chance for homebuyers to pick up a brand new home in Oldham, Greater Manchester for under £60,000 with its easi:buy shared equity scheme