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Help to Buy turns renters into homeowners in Ravenstone

Help to Buy turns renters into homeowners in Ravenstone

02 February 2016

Renters stuck in a rut with a combined income of less than £25,000 can now purchase a new two bedroom home at St. Modwen Homes’ Woodlands Reach development in Ravenstone, thanks to the government’s Help to Buy scheme.

Designed to help home buyers move both onto, and up, the property ladder, Help to Buy has assisted almost 50% of sales at Woodlands Reach last year, with strong sales expected to continue in 2016.

Under Help to Buy, people can essentially borrow four and a half times their salary to obtain a mortgage and purchase a house. Without any other financial commitments, such as credit card debt, this means couples and young families with a joint salary of as little as £24,416 can get on to the property ladder and become homeowners at Woodlands Reach.

Priced at £146,500, under Help to Buy the two bedroom Kemble home can be purchased for just 80% of the listed price, with a 75% mortgage and 5% deposit. The remaining 20% is covered by an equity loan of up to 20% from the government.

Bev Hall, Sales and Marketing Director at St. Modwen Homes, said: “Under the scheme, purchasers only need a deposit of 5% which could be as low as £7,325 for a high quality two bedroom home at Woodlands Reach. This is great news for young families and first-time buyers looking to get on to the property ladder.”

A range of two bedroom Kemble homes are currently available to purchase at Woodlands Reach, with prices starting from £146,500. Designed with first time buyers and young families in mind, the Kemble has two double bedrooms, with built-in wardrobes to the master bedroom, an additional downstairs toilet and a large open plan kitchen/dining room with French doors leading out to the rear garden.

The Marketing Suite and Show Home at Woodlands Reach are open Thursday to Monday from 10am to 5.30pm inclusive of the weekends. For more information or to book an appointment, call 01530 836 750 or email WoodlandsReach@StModwenHomes.co.uk. Alternatively visit www.stmodwenhomes.co.uk or follow the housebuilder on Twitter at @StModwenHomes and on the Woodlands Reach Facebook page. 

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