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

The Pastures, Alcester
The Pastures, Kinwarton Farm Road, Alcester, Warwickshire, B49 6EH
NOW AVAILABLE from £449,995
Families looking for a new home in Alcester need look no further than The Pastures. This brand new Redrow development offers a selection of 3, 4...
The Sycamores, Pease Pottage
NOW AVAILABLE from £494,995
The Sycamores represents the very best of Redrow's much-praised Heritage Collection. With a stunning selection of new 3, 4 and 5 bedroom homes...
The Villas At Lytham Quays, Lytham
Villas At Lytham Quays, Victory Boulevard, Lytham, Lancashire, FY8 5TH
NOW AVAILABLE from £999,995
No expense has been spared and no corners cut; this is a development that has truly been crafted without compromise. Characterised by clean and...
The Willows, East Leake
NOW AVAILABLE from £351,000
Situated midway between Nottingham and Loughborough, with Derby to the east and Leicester to the south, The Willows at East Leake is perfectly...
Thorpe Meadows, Countesthorpe
Thorpe Meadows, Leicester Road, Countesthorpe, Leicestershire, LE8 5QU
NOW AVAILABLE from £445,995
Our Thorpe Meadows development is located in the idyllic village of Countesthorpe. Surrounded by rolling countryside yet close to city of Leicester...
Trenchwood Gardens, Telford
Trenchwood Gardens, Sommerfield Road, Telford, Shropshire, TF1 5RY
NOW AVAILABLE from £214,500
Our delightful Trenchwood Gardens development offers a selection of 2, 3 and 4 bedroom homes from the superb New Heritage Collection. This...
Tudor Gardens, Atherstone
NOW AVAILABLE from £159,995
Carefully chosen for its charming location on the outskirts of the historic Warwickshire town of Atherstone, our new Tudor Gardens development...
Vision, Devonport
Vision, Park Avenue, Plymouth, Devon, PL1 4DP
NOW AVAILABLE from £136,995
Vision at Devonport is an exciting development from Redrow that not only includes homes, but also a wide selection of other buildings, including...
Wallscourt Park, Bristol
Wallscourt Park, Long Down Avenue, Bristol, South Gloucestershire, BS16 1FP
NOW AVAILABLE from £394,995
Wallscourt Park is the next phase of our Redrow development at Cheswick Village, providing even more of our incredibly popular New Heritage...
Waterside Reach, Tonbridge
NOW AVAILABLE from £166,995
Charming and friendly, the historic market town of Tonbridge in Kent already has a great deal to offer its residents - and following exciting...
Whitecroft Gardens, Lydney
Whitecroft Gardens, New Road, Nr Lydney, Gloucestershire, GL15 4RJ
NOW AVAILABLE from £239,995
Situated on the edge of the Forest of Dean and surrounded by spectacular Gloucestershire countryside, Whitecroft Gardens is a picturesque place to...
Whitehill Meadows, Blackpool
Whitehill Meadows, Lytham St Annes Way, Blackpool, Lancashire, FY4 5PQ
NOW AVAILABLE from £214,995
Situated on the outskirts of vibrant Blackpool, Whitehill Meadows is a haven of tranquil suburb life and exquisite architecture. As the rural name...