Savvy househunters with a deposit of just five per cent could snap up a substantial four-bedroom property in Oxfordshire by taking advantage of the government-backed Help to Buy scheme.
At award-winning Linden Homes’ executive Kings Meadow development in the pretty village of East Hanney, buyers can raise their aspirations to enjoy the premium qualities of more than 2,000 square feet of floorspace, two en suites, and a double garage.
Help to Buy applies to homes of up to £600,000. It works by combining a government loan of up to 20 per cent with an initial five per cent deposit, leaving an achievable mortgage of 75 per cent to make up the balance.
The price window puts two executive styles at Kings Meadow within reach: the Whittenham and the Hurst. As well as offering high-specification design, the location means Oxford and London are easily commutable by road and rail.
The spacious Hurst boasts a double garage, two en suite bedrooms and ranges across 2,013 square feet. Yet under Help to Buy, a deposit of just under £30,000 could secure a mortgage worth £449,960 with monthly payments as low as £1,883.17.
Alternatively, a lower monthly mortgage of £1,663.45 would secure the Whittenham and its 1,708 square feet of floorspace including garage, utility room, study, en suite master bedroom and expansive, open-plan kitchen/dining room opening into the garden.
Using Help to Buy, the property is achievable with a five per cent deposit of nearly £26,500 to secure a mortgage worth £397,460.
The costs for both homes are based on a 25-year mortgage with a fixed rate of 1.89 per cent for the first two years, including a product fee of £999. The overall cost for comparison is 3.8 per cent APR.
Adam Champion, from the New Homes Mortgage Help Line, said: “Help to Buy is very straightforward. It starts with a call and can conclude with the addition of thousands of pounds of extra spending power to a househunter’s budget.
“In fact, Help to Buy can support people looking for homes around the £450,000 mark to search several steps higher up the property ladder to consider a quality and size of home they might not thought possible.”
Steve Garton, sales and marketing director at Linden Homes Thames Valley, added: “Help to Buy isn’t only to support people up the housing ladder. It’s also a wonderful opportunity for people to raise their aspiration higher than they thought possible.
“Kings Meadow represents a perfect opportunity to use Help to Buy to secure an exquisitely designed home in a stunning rural location within reach of Oxford and London. With only four homes left, we’re advising people to get in touch now so as not to miss out.”
Kings Meadow is an exclusive collection of just 10 detached four-bedroom houses overlooking rolling fields and just a stroll from the village centre. The generously-sized properties are individually designed with exquisite detail and a layout for contemporary living.
Located between Abingdon and Wantage, East Hanney is well placed for the A34, M4 and M40 and there is good access to Oxford via the A338. Didcot is seven miles away from where train services can reach London Paddington in 43 minutes.
To find out more call 01235 313623.
For media information, contact Claire Oakley, Kelly Ward or Claire Cathersides at Remarkable Content on 01962 893 893.
04 November 2015
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales representatives for details of the exact specifications available at the development(s) for each type of home and the associated prices.