People searching for a new home in the West Midlands are being offered a helping hand by regeneration specialist, Crest Nicholson, thanks to the launch of the Government’s Help to Buy scheme at its Park Central development in Birmingham city centre.
Crest Nicholson is one of the first housebuilders to launch the scheme in Birmingham, believing it will make a noticeable difference, in particular to those struggling to raise a large deposit.
Launched at the beginning of April, the Help to Buy scheme was announced in this year’s Budget and gives people on all stages of the property ladder the opportunity to purchase a new home with a deposit of just five per cent. Under the scheme, the Government will lend up to 20 per cent of the value of the property through an equity loan. The purchaser will have to pay just 80 per cent the cost of the property – made up of a 75 per cent mortgage and five per cent deposit.
Crest Nicholson has launched the scheme on its brand new apartments in the latest £15 million phase at Park Central, Central Plaza, which opened to the public just over a month ago. When purchased under Help to Buy, a one bedroom apartment in Central Plaza will cost £93,600, (a 20 per cent reduction off the £117,000 list price) and purchasers will need a deposit of £5,850.
Susan Young, sales and marketing director at Crest Nicholson Regeneration said: “Help to Buy is a great opportunity for everyone looking to buy a new property. What’s so great about the scheme is that the lower deposit is available for all purchasers, whether they are first time buyers or looking to make the steps into their next home.
“The apartments at Central Plaza have been very well received since their launch and we are extremely pleased to be able to offer Help to Buy on these brand new homes. All the apartments are being built to the highest quality and if purchasers reserve their property now, they will be able to choose which kitchen and flooring they like best, ensuring it really is their perfect home.”
The 132 new apartments in Central Plaza are split over two iconic buildings which are currently under construction at the heart of Park Central. Their central location means each apartment boasts fantastic views over the extensive landscaped parkland which is central to the development, alongside views across Birmingham city centre. The majority of apartments also benefit from secure gated parking.
For more information about Help to Buy, visit the Park Central sales office which is open daily from 10am to 5pm and is located at 61 Mason Way, Birmingham B15 2GE. Alternatively, call 0121 666 4666 or visit www.parkcentral.co.uk