FirstBuy is a Government scheme for first time buyers in England helping them get onto the property ladder. Here at Redrow, we have some great news for all those first-time buyers in England who only have a small deposit to put towards their first home. A new government initiative called FirstBuy. Through FirstBuy, you have to find just 4% deposit and a further 20% deposit is paid for you. This is in the form of an equity loan that’s interest free for the first five years – and doesn’t need to be repaid until you sell the property. So, in effect, you have a 24% deposit for your new Redrow Home, which leaves you to take out just a 76% mortgage on the rest of the property. In other words, you get 100% of your new home without having to pay the full asking price up front – which also means lower monthly repayments as well! So, if you need help making your first home more affordable, visit redrow.co.uk to see where FirstBuy is available. And remember — don’t make a move until you’ve talked to us
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“Hello, I’m here today to share a little bit of joy… 95% mortgages are back — and available on all Redrow homes in England up to a value of £500k. NewBuy is a government-backed initiative that isn’t just available to first time buyers — but anyone who has saved a 5% deposit for one of our fabulous new homes. Here’s how NewBuy works… You choose from Redrow’s collection of stunning new properties — the scheme isn’t available for second-hand homes – that’s everything from 1 and 2 bedroom apartments, to 3, 4, 5 and 6 bedroom family homes like these… Then we’ll put you in touch with our (new build) mortgage specialists who all have access to the selected lenders participating in the scheme. In today’s market, the typical deposit to buy a new home is 20%, so for a Redrow home worth £200000, buyers would normally have to find a deposit of £40000. But with NewBuy that drops dramatically to a much more manageable £10000. What’s more, NewBuy Mortgage rates are really competitive; arrangement fees are just £499… …which are now competitive with other mortgage products. Plus there’s no mortgage indemnity fee to pay as the scheme is backed by the government.” Subject to approval, you’ll be given a 95% mortgage, which will be underwritten by the government, leaving you to find just a small 5% deposit – even if your money is tied up in another property…. “So, you’re interested in the Oxford but you have an apartment to sell in the town which just isn’t moving- you could …
