Interest rates are currently at an all-time low, but won’t stay there for ever. (They may even start to rise again by the start of 2016).
Combine these present low interest rates with the Government’s Help to Buy scheme and you have a home buying solution that is much more affordable than many people realise. If you are in the Portsmouth area, then it would be worth your while having a look now at Hawthorn Mews in the village of Bedhampton.
It’s located just off the A3, close to the M27. (The local mainline station offers regular direct services into London and Portsmouth). The one and two bedroom apartments and the three, four and five bedroom houses on this contemporary development, all qualify for the Help to Buy scheme.
Built and finished to the very high standards common to all multi-award winning Linden Homes these extraordinary homes have been very carefully thought out so that they are a great fit with the way we live today. For example, the beautiful town houses are spacious and versatile – arranged over three floors – so you can change the way you use each room to suit your own needs.
All the kitchens and bathrooms are fully fitted and finished: The kitchens have appliances (each one guaranteed) already in place. They include a dishwasher, washer/dryer, fridge/freezer, oven, hob, and extractor fan.
These homes are extremely well designed and offer great value for money for the space offered to purchasers. Tina Chalk, marketing manager from Linden Homes explains: “What people don’t realise is that these beautiful homes could currently make more economic sense for you to buy than renting.”
Local Hampshire estate agent Leaders estimates that average rentals per month are around £725 to £750 for a one bedroom apartment in this area; for a two bedroom apartment that rises to between £800 and £850 and for a three bedroom house, the average rental for the area is between £1,100 and £1,200.
If you are currently paying this kind of rent – and would rather not – then the first thing to do is have a look at the Help to Buy scheme. Try the Linden Homes’ website video which clearly explains the basics: www.lindenhomes.co.uk/helptobuy.
Briefly, Help to Buy is there for first time buyers and existing home owners. It’s available for new properties up to the value of £600,000. You need to provide a 5% deposit while the scheme means you can borrow a further 20% from the Government in the form of an equity loan – which means you only need a 75% mortgage agreed by your bank or building society to secure your new home.
Using Help to Buy and the current low interest rates could be a great move at the moment:
According to research by The New Homes Group, buyers using the Help to Buy scheme who have taken out a £200,000 mortgage are around £230 a month better off for the first two years than their counterpart who did the same five years ago. At the higher end of the market, the research shows that buyers could be up to £450 per month better off in the first two years.
The scheme is also applicable to those wanting to move up the ladder. Tina explained further: “Don’t forget that Help to Buy is also available to existing home owners. So if you are reading this and feeling tempted by Hawthorn Mews and you’re not renting, then this could be the time to think about putting your heat-leaking, high maintenance, ‘not quite the right layout’ old house on the market and taking advantage of Help to Buy too!”
To find out more about the homes available at Hawthorn Mews in Bedhampton or to see the different plans and layouts for these beautiful 21st century apartments and houses, please visit the Linden Homes’ website or for more information please call 02392 809 670.
Media can contact Emma Cox or Fotini Efstathiou at Remarkable Group on 01962 893893 for more information, interviews and images.
01 October 2015