Buyers with just a 5% deposit could snap up a spacious four-bedroom family home at the popular new Manor Park development near Taunton.
The size, location and quality have made the collection in the Somerset village of Creech St Michael a big hit on the market, with more than half the properties already sold by award-winning housebuilder Linden Homes.
Four-bedroom detached homes are on offer, meaning that under the government-backed Help to Buy scheme, buyers can secure a family home in the countryside with a deposit of just £15,450 based on a purchase price of £309,000.
Help to Buy, provides both first-time buyers and those climbing further up the property ladder an interest-free loan for the first five years of up to 20 per cent of the home’s value. Add a minimum deposit of five per cent, and a new home can be secured with a 75 per cent mortgage.
Adam Champion, an independent expert from New Homes Mortgage Helpline, said: “By combining Help to Buy with buying new-build at Manor Park, customers can boost their spending power even further.
“For instance, with a joint income of £57,900 you could go to Nationwide with a five per cent Help to Buy deposit, and on a £309,000 home you could secure a 25-year mortgage at 1.79 per cent – with monthly payments of £958.
“Compare that to payments of £1,564 for an equivalent mortgage on a second-hand home, with interest of 4.09 per cent. To get that down to a £899 monthly payment, you’d be limited to looking at properties around £180,000. The benefit of new-build is clear.”
Alternatively, Linden Homes’ Part Exchange scheme is available for home-owners who want to secure one of these popular properties quickly without the hassle, cost and time of selling their own home first.
The simple process begins with the buyer choosing their Linden home and putting down a reservation fee. Providing the current property is not worth more than 70 per cent of the chosen new home’s price, buyers could buy and sell in one easy move, with Linden Homes as their guaranteed cash buyer.
The financial support available at Manor Park is just one of the many pulls that have tempted customers to the sought-after development, which offers a well-connected mix of town and country living.
The homes are just a few miles from Taunton’s shopping, attractions and eateries, with easy access to the M5 for commuting to Bristol or Exeter. But they also have the stunning Somerset Levels on their doorstep and enjoy an atmosphere of rural calm.
The four-bedroom homes on offer each contain an en suite master bedroom. They feature fully-fitted kitchens with integrated fridge-freezers and sleek ceramic floor tiling, as well as high energy efficiency to keep the bills down.
In common with all Linden Homes properties, each Manor Park home also comes with a 10-year NHBC warranty and two-year customer care warranty for peace of mind.
Sue Scholfield, sales director at Linden Homes Western, said: “Manor Park is a huge opportunity for buyers when you consider the premium that is usually placed on homes of this quality and location. People should get in touch soon to avoid missing out.”
To register with Linden Homes or to find out more call 0843 781 6265. This call will cost you 7p per minute plus your phone company’s access charge.
For media information, contact Kelly Ward or Claire Oakley at Remarkable Content on 01962 893 893.
20 August 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.