20/09/2017

Buyers can reap the benefits of buying off plan in Mapperley

Bloor Homes believes house hunters are realising the benefits of buying brand new homes, off-plan in Mapperley.

With the first phase of 150 homes released to the market at the superior development Spring Park, many buyers have been reserving their dream property early, and taking advantage of being able to choose some of the design features, fixtures and fittings.
 
The stunning collection of two to five-bedroom homes is set in an idyllic location in the Nottinghamshire countryside.
 
Michele Rose, Regional Sales Director for Bloor Homes Midlands, said: “Spring Park has generated a lot of interest since its launch due to the quality of the build and the desirable setting, so many buyers are seizing the opportunity to purchase their new home off-plan.
 
“We would encourage potential buyers to visit the sales information centre at Spring Park and speak to one of our advisors about the possibilities of buying off-plan.”
 
Four-bedroom homes are currently available at Spring Park from £364,950, all on offer with the Government backed Help to Buy scheme and selected plots with Bloor’s Home Exchange scheme. 
 
Help to Buy is potentially available to all types of purchasers and not just first-time buyers. Under the scheme buyers can secure their new home with a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is provided as an equity loan, which is interest free for the first five years.
 
Help to Buy is available on new build homes worth up to £600,000 in England, and can be used by current homeowners as well as first-time buyers. 
 
Buyers can secure their new-build with a minimum 5% deposit to qualify.  The government will lend between 10% and 20% of the value of the property.  This means the buyer will only need to secure up to a 75% mortgage from a bank or building society.  
 
For example, the superior four-bedroom detached Buckland house type, which is priced at £364,950 is available with Help to Buy for as little as £291,960. This would mean that buyers’ 5% deposit would be the equivalent of £18,250 and their mortgage will be £273,710, whilst the Help to Buy loan is £72,990. If prospective purchasers chose a 25-year term mortgage on a 1.39% fixed rate for two years with Barclays then their monthly mortgage repayments will translate into £1,080.58.
 
Additionally, Bloor Homes offers the Home Exchange Scheme giving potential buyers the chance to purchase a wonderful new home, whilst relieving some of the stress associated with selling their existing property.