National housebuilder, St. Modwen Homes, is holding a dedicated Help to Buy workshop for househunters in Rugby, aimed at answering people’s questions and dispelling myths surrounding the government scheme.
The free to attend workshop will be held on Thursday 13 March between 4pm and 7pm in the sales and marketing suite at St. Modwen Homes’ Edison Place development, located off Technology Drive.
Credited with fuelling the housing market, Help to Buy has proven extremely popular across the UK, including at Edison Place where 80% of homes sold in February were secured under the scheme.
Many people have questions over the equity loan scheme however, with househunters often unsure of who is eligible for the initiative, how the loan is repaid and what properties they can purchase. During the event, househunters will be given the opportunity to speak confidentially to an independent mortgage adviser who will be on hand to give impartial advice on how Help to Buy works and the best mortgages available.
Additionally, the St. Modwen Homes sales team will be able to provide information on the properties available at Edison Place that can be purchased using Help to Buy and therefore need a deposit as little as five per cent.
Bev Hall, Sales and Marketing Director at St. Modwen Homes said: “Whilst many househunters are now aware of Help to Buy, we’re still finding that the majority of people haven’t actually considered using the scheme themselves.
“The low deposits available under Help to Buy can make all the difference in helping people to buy a larger house or get on the property ladder when they previously didn’t think it possible. Often, people are just put off by the unknown, so our aim is to make sure that people feel comfortable with Help to Buy and what it could offer them.”
Under the scheme, the government will lend up to 20 per cent of the value of a property through an equity loan. The purchaser will need only to obtain a mortgage for 75 per cent of the property, plus an upfront deposit of just five per cent. People will still own 100 per cent of their new home.
Bev said: “What many people don’t realise is that Help to Buy is available to purchasers moving into their second or third home, as well as first time buyers. In fact, recent government statistics showed that 80 per cent of all sales under Help to Buy were first time buyers so there is still much work to be done in raising awareness of the scheme amongst second steppers.
“This workshop is a great opportunity for all purchasers to come along and take advantage of having a mortgage adviser on hand to answer any questions. Buying a new home can be a daunting prospect so it’s best to have as much information as possible before deciding which house is the perfect home.”
New homes are currently for sale at Edison Place, starting in price from £209,950 (£167,960 under Help to Buy) for a three storey, three bedroom ‘Manhattan’ property, up to £276,500 (£221,200 under Help to Buy) for a four bedroom link-detached ‘Glenmont’ house. Under Help to Buy, deposits needed to secure a property at Edison Place can be as little as £10,498.
All the properties at Edison Place offer a contemporary and spacious layout with large windows whilst retaining some desirable, traditional features such as higher than average ceilings. Ideally situated off Leicester Road, Edison Place is located just 500m from Rugby railway station, with regular connections to London Euston and Birmingham Stations in 45 minutes.
The Edison Place marketing suite is located off Technology Drive and is open for visitors Thursday – Monday, inclusive of weekends, between 10am and 5.30pm (typical opening hours). For further information please call the St. Modwen Homes sales team on 0844 243 4646 or visit www.stmodwenhomes.co.uk