Thanks to the government’s popular Help to Buy scheme, aspiring homeowners in Stoke-on-Trent, who have a combined income of just over £25,000, can purchase a new two bedroom home at St. Modwen Homes’ Trentham Manor development.
To date, 30% of sales at Trentham Manor have been taken through Help to Buy, which is designed to assist home buyers move both onto, and up, the property ladder.
Under Help to Buy, people can essentially borrow four and a half times their salary to obtain a mortgage and purchase a house. Not taking any other financial commitments in to account, such as credit card debt, this means couples and young families with a joint salary of as little as £25,665 can get onto the property ladder and become homeowners at Trentham Manor.
Priced at £153,995, under Help to Buy the two bedroom Alban home can be purchased for just 80% of the listed price, made up of a 75% mortgage and 5% deposit. The remaining 20% is covered by an equity loan from the government.
Bev Hall, Sales and Marketing Director at St. Modwen Homes, said: “Under the scheme, purchasers only need a deposit of 5% which for a high quality two bedroom home at Trentham Manor could be as low as £7,699. Saving for a deposit is often the biggest barrier when buying a home, so this is great news for families and young professionals who may otherwise struggle.”
A range of semi-detached Alban homes are currently available to purchase at Trentham Manor, with prices starting from just £153,995. Designed with first-time buyers in mind, the two bedroom Alban features a spacious open plan living/dining room with French doors leading to the garden, a separate kitchen and an additional downstairs toilet.
Located off Stanley Matthews Way, the Marketing Suite and Show Homes at Trentham Manor are open between 10am to 5.30pm Thursday to Monday, inclusive of the weekends. For more information call 0844 243 4520 or email TrenthamManor@StModwenHomes.co.uk. Alternatively visit www.stmodwenhomes.co.uk or follow the housebuilder on Twitter at @StModwenHomes and on the Trentham Manor Facebook page.