2018 is a great year to buy a new property, says Edward Parker from Bennett Homes
There are several reasons why this year is a good time to take your first step on the property ladder – low interest rates, the government's Help To Buy Scheme and exemption from stamp duty. So why not make 2018 the year you become a homeowner? Edward Parker, from Bennett Homes, tells us why.
Interest rates remain historically low – and even though they are tipped to rise a small amount – investing in a property is still affordable.
The government's Help to Buy Scheme which is scheduled to run until 2020, is also a great help to those needing assistance to raise the deposit, requiring buyers to make a personal contribution of just 5 per cent. It's available on new homes up to a maximum purchase price of £600,000. Helping with the deposit – up to a maximum of 20 per cent – also enables buyers to access more attractive mortgage deals.
The government has also given first-time buyers exemption from stamp duty on purchases under £300,000.
In addition to these reasons, there are specific initiatives such as the Shared Equity Scheme which we have introduced at our Saxon Green development at Ashill, Norfolk where four brand new two-bedroom apartments are available for buyers to purchase.
Buyers will fully own their own homes by taking out a mortgage covering 75 per cent of the property value and then have the opportunity to buy the remaining 25% equity share at current market value after five years.
The two bedroom apartments include: a shared rear garden, two allocated parking spaces, high performance double glazing, hood, gas hob and a single electric oven, efficient gas central heating, spotlights in the kitchen and bathroom and the NHBC 10 year Buildmark Warranty.
Two and three bedroom houses are also available at Saxon Green and at two other developments in Norfolk – Woodlands at Old Costessey, Norwich and The Signals at Watton – perfect for contemporary living, with fitted kitchens, bathroom furniture and built-in storage.
Buying new also delivers benefits for first-time buyers as at Bennett Homes we include many features in the asking price and everything comes with guarantees so there is very little maintenance. In addition, modern building regulations ensure excellent insulation and efficient heating systems so running costs are low.
For more information, conntact Bennett Homes, sponsors of this column, at www.bennett-homes.co.uk or 01284 766057.
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