Never a Better Time to Buy at Eden Park

28/04/2015 - General

As official figures showed mortgage rates have almost halved over the past year and with recent changes to Stamp Duty thresholds plus the continuing popularity of the government's Help to Buy initiative, analysts suggest that there may never be a better time to buy a house*

And it seems as though homeowners in Rugby are taking full advantage of the positive market conditions, with national housebuilder, Bloor Homes celebrating sales at its Eden Park development, where there is just one plot remaining on the first phase. Househunters in Warwickshire are therefore being encouraged to pay a visit to the development without delay.

Vanessa Macnee, Sales Director for Bloor Homes South Midlands region explains: "It is fantastic to see such renewed confidence returning to the housing market. First time buyers and second steppers alike have been taking advantage of an unprecedented set of circumstances including mortgage rates which remain at record lows, recent reforms to Stamp Duty thresholds as well as the continuation of the popular government scheme, Help to Buy.

The addition of the Help to Buy ISAs, announced in the latest Budget, can only strengthen the market further by providing additional support for first time buyers. We would therefore encourage anyone considering making the move, especially anyone previously stuck in a rental trap, to take advantage of the fantastic rates and support available to them now."

One such Bloor Homes customer who has already made the move from rented accommodation to their own home are Jasmine and Ben Hayne.

Having been in rented accommodation for years the couple benefited from the government's Help to Buy scheme to purchase their home, as Jasmine explains: "We had wanted to be able to buy our own place for years and Help to Buy has meant we can achieve this much sooner than we thought possible.

"We feel very lucky that as first time buyers we've been able to purchase such a beautiful home with ease. The sales team were great and the process was really quick and straightforward, I would highly recommend it."

The development is ideally situated for commuters, who are increasingly drawn to this corner of Warwickshire by its excellent value compared with other Warwickshire towns. It is within easy reach of the M6 and M1 motorways, and regular rail services from Rugby to London take about 50 minutes; Rugby station also provides direct services to Northampton, Leicester and Coventry, and there is sheltered cycle storage and car parking available.

* http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11402902/There-may-never-be-a-better-time-to-buy-a-home.html

** All figures have been quoted based on a 1.89% 2 year fixed term mortgage over 30 years and are based on a Help to Buy mortgage on a 75% loan to value rate, requiring an upfront deposit of 5%. Interest rates and fees will apply. Your home may be repossessed if you do not keep up repayments on your mortgage.