WEST Didsbury is one of South Manchester’s most sought-after neighbourhoods and those who long to live there could find that Help to Buy unlocks their dream move.
Available exclusively on new build homes, the Government-backed equity loan scheme could be a lifeline to those who perhaps would otherwise be priced out of the area.
All of the Elan Homes properties at Derwent Court could potentially be purchased using Help to Buy. The homebuilder is hosting a special event this Saturday (September 28) to guide d-be homeowners through the scheme.
Marie Morris, sales director for Elan Homes in the North, said: “Land Registry figures suggest that most of the properties sold in West Didsbury last year were flats, which perhaps sits with the idea of it being somewhere couples and young professionals want to live. Buying an apartment is still for many a first step on to the property ladder, but we want to encourage people to think about their long term housing needs.
“Those who purchase using Help to Buy should only need a 5% deposit, which is much lower than the substantial amounts required by some lenders. Then by taking out an equity loan for 20% of the price, they will only have to secure a 75% mortgage but will potentially be able to access some of the better rates usually reserved for those with a hefty deposit. It could be the difference between having to move after a few years or settling on living in a different area.”
Derwent Court offers a choice of four-bedroom homes, with current prices ranging from £474,995 to £549,995.
The Help to Buy equity loan is interest free for five years and can be repaid when more funds are available or when the property is resold.
Located on Derwent Avenue, homes at Derwent Court are ideally placed with a collection of shops, restaurants, cafes and bars, plus the green spaces of Chorlton Water Park and Fletcher Moss Botanical Garden close to home.
Find out more about Help to Buy with a visit to the development this Saturday (September 28). For the latest availability and pricing call 01618205198 or see https://www.elan-homes.co.uk/developments/derwent-court.