Redrow offers NewBuy mortgages on its new homes in Yorkshire

Date:

Friday 27th July 2012

Author:



Saxon Court in Sherburn-in-Elmet, North Yorkshire

With mortgage lenders demanding large deposits from first-time buyers and movers looking for the best interest rates, over the past few years many people who have wanted to move home have not been able to do so. Those looking for a first home have often been stuck in increasingly expensive property to rent while they try to save a lump sum to put down on a home of their own.

The NewBuy scheme, launched by the government in March 2012, is intended to make purchasing easier for creditworthy homebuyers by making 95% loan-to-value mortgages available to them - not just first-time buyers, but those looking to move up the property ladder too. Redrow Homes was one of the first housebuilders to sign up to this scheme and with only a 5% deposit, homebuyers can now consider a range of new homes in Yorkshire that are on sale at the company's developments.

Patsy Aicken, sales director for Redrow Homes (Yorkshire), says: "Between the various developments we have a good choice of homes available. We have properties that are perfect for individuals, couples, families and even friends buying together. Their traditional looking Arts & Crafts influenced exteriors and bright modern, family-friendly interiors mean they practically sell themselves. And thanks to the offer of 95% mortgages there's a real opportunity for those without substantial savings to own one of our stylish new homes."

Among the locations that purchasers can find NewBuy available on a range of homes valued up to £500,000 are:

  • Holtby Gardens, Cottingham, from £139,999
  • Saxon Court, Sherburn-in-Elmet, from £267,999
  • Oaklands, Easingwold, from £258,999
  • Scholars' Gate, Wakefield, from £239,999
  • Wheatley Chase, Halifax, from £158,999

Patsy continues: "Research published by the Halifax this week suggests that the average 20- to 45-year-old looking to buy a home has £9,420 in savings. The good news is that this would be more than enough to secure a 95% mortgage to purchase a three-bedroom home at Wheatley Chase."

She also mentions that NewBuy can help those who don't have a substantial amount of equity in the property they are selling: "[NewBuy] may offer a ‘rent-to-buy' option for those who haven't sold their current home. They can consider renting out their existing property by converting to a buy-to-let mortgage and then use NewBuy and a 95% mortgage to buy one of our brand new homes," she adds.

New Homes by Redrow Homes

Otter Grange, Ottery St Mary
Otter Grange, Ottery St Mary, Devon, EX11 1EL
NOW AVAILABLE from £285,995
Located on the eastern edge of the delightful country town of Ottery St Mary and surrounded by open farmland, Otter Grange enjoys an enviable...
Ratio, Slade Green
Ratio, Slade Green Road, Erith, Kent, DA8 2HX
NOW AVAILABLE from £199,995
Known as the Garden of England, Kent is one of the most esteemed places to live in the country. The town of Slade Green is a popular option for...
River View, Barton Seagrave
NOW AVAILABLE from £264,950
With superb homes overlooking stunning countryside, River View is the second phase of our development at Barton Seagrave. Offering a selection of 3...
Riverside View, Lancaster
NOW AVAILABLE from £249,995
As the name suggests, Riverside View enjoys a delightful quayside location on the banks of the River Lune, close to the heart of historic Lancaster...
Rockingham View, Market Harborough
Rockingham View, Glebe Road, Market Harborough, Leicestershire, LE16 8AH
NOW AVAILABLE from £289,950
Situated in the beautiful market town of Market Harborough, our Rockingham View development is one of our most diverse and exciting. Almost all...
Royal Waterside, London
£ POA
A new landmark address in west London, Royal Waterside at First Central gives you the very best of modern luxury living: style, sustainability and...
Sandhurst Gardens, Chorley
Sandhurst Gardens, Pilling Lane, Chorley, PR7 3EQ
NOW AVAILABLE from £174,995
Just like the all of our New Heritage Collection homes, Sandhurst Gardens has been carefully designed to complement and complete your quality of...
Sandy Lane, Buckshaw
Sandy Lane, off Dawson Lane, Chorley, PR7 7AD
NOW AVAILABLE from £369,995
Just like the homes in the New Heritage Collection, Sandy Lane has its own distinct identity that epitomises high quality and specification....
Saxon Fields, Bromsgrove
Saxon Fields, Rutherford Road, Bromsgrove, Worcestershire, B60 3SA
NOW AVAILABLE from £289,995
Situated amongst the idyllic open farmland of the historic market town of Bromsgrove, our Saxon Fields development provides residents with all of...
Scholars Place, Hardingstone
Scholars Place, Newport Pagnell Road, Northampton, Northamptonshire, NN4 6UU
NOW AVAILABLE from £359,950
The New Heritage Collection from Redrow is celebrated for its graceful blending of modern and traditional architecture and design, and the epitome...
Scholars' Gate, Wakefield
Scholars' Gate, Ruskin Avenue, Wakefield, WF1 2BG
NOW AVAILABLE from £240,950
Scholar’s Gate offers the epitome of Yorkshire living. Situated on the outskirts of Wakefield, our Scholar’s Gate development is...
Sellars Bridge, Hardwicke
Sellars Bridge, Hardwicke, Gloucester, GL2 4QD
NOW AVAILABLE from £172,995
Sellars Bridge is a superb development of New Heritage Collection homes from Redrow, located just 4 miles to the south west of Gloucester. ...