Financial worries still dominate the minds of first-time buyers in the East Midlands, according to a recent report by the Home Builder’s Federation (HBF) – yet shockingly almost a third (31%) were not aware of the Help to Buy scheme, which could help them to purchase their new home without a large deposit.
The report also revealed that 39% of potential buyers were unaware of the recently launched Help to Buy ISA.
In the East Midlands, some 70% of prospective home buyers say that saving for a deposit is one of the main obstacles they believe blocks first-time buyers from entering the property market, while almost half (47%) believe securing a mortgage is a challenge.
“Schemes like Help to Buy and the newly launched ISA make buying a new home an affordable reality for first-time buyers,” says Mark Cotes, operations director at Barratt Homes North Midlands. “It is important that people look into all of the options available to them.”
The Help to Buy Equity Loan scheme, for example, enables buyers to purchase a new home with a deposit of just 5%, a 75% mortgage, and the remaining 20% funded by a government equity loan, which is interest-free for the first five years, and repayable on the sale of the house.
Below are just a handful of the many new developments currently available across the East Midlands.
Becket's Brow in Chapel En Le Frith, Derbyshire (Barratt Homes)
Ideal for buyers who want to get the most out of the charming Peak District area, the homes available at Becket’s Brow are inspired by local heritage, combined with a superb build quality, situated in an idyllic countryside location yet within walking distance of local shops.
There are also schools nearby, as well as a good range of other amenities such as pubs, a tearoom, a golf club, a cricket club and a football club. The location also offers easy motorways links for commuters, including good connections to Manchester.
The village, which has been dubbed "The Capital of the Peak District", has child-friendly play parks, and families can also enjoy a self-guided walking trail through the lovely Old Town.
Prices: From £190,995. Help to Buy scheme available.
Find out more about Becket's Brow from Barratt Homes
Hollygate Park in Cotgrave, Nottinghamshire (Barratt Homes)
Two-, three- and four-bedroom homes are available at Hollygate Park, a 'Built for Life' Award-winning development, and a variety of purchase assistance schemes are available, including Help to Buy, Movemaker and Part Exchange.
Cotgrave has a couple of primary schools and a shopping parade that is home to various retailers, a library, a fish and chip shop, other take-aways, and a medical centre. The development is also within walking distance of Cotgrave Country Park, and only a 10-minute drive from the National Water Sports Centre, giving residents plenty to do in their spare time. For a wider choice of options, Nottingham city centre is only a 15-minute drive away, with all its shopping, entertainment and employment opportunities.
Commuters can reach Radcliffe-on-Trent train station within about five minutes' drive, while the M1 is 16 miles away.
Prices: From £262,995
Find out more about Hollygate Park from Barratt Homes
Mulberry Park in Hamilton, Leicestershire (Linden Homes)
Just four miles from Leicester city centre, and within easy reach of a whole host of shops and facilities, Mulberry Park offers a collection of three-, four- and five-bedroom houses in the popular suburb of Hamilton -- although only four-bedroom options now remain.
The development's semi-rural setting strikes a good balance between city and country living, with a whole host of amenities virtually on its doorstep, including shops and supermarkets, a library, a pharmacy and a doctor’s surgery. There are excellent local schools, with options nearby for both primary and secondary pupils.
Commuters needing to travel outside of Leicester can easily access the town's train station, which offers services to London St Pancras International in as little as an hour and six minutes. The development is also conveniently close to the A47 and the M1 for routes north and south by road.
For leisure time, the Spence Street Sports Centre is just over two miles from Mulberry Park, and less than six miles away Watermead Country Park and offers a lovely wetland area with opportunities for walking, fishing, cycling and water sports.
Prices: From £294,995
Find out more at www.lindenhomes.co.uk or call 01162145 907
Cygnet Place in Witham St. Hughs, Lincolnshire (Linden Homes)
Brand new four-bedroom detached houses are currently for sale at Cygnet Place, which enjoys a tranquil location in the lively, sought-after village of Witham St. Hughs -- yet is also conveniently situated for nearby towns and easy transport links.
Ready to move into now, many of the homes have pleasant views over open countryside, and they are virtually midway between Lincoln and Newark-on-Trent, both of which are within a 10-mile radius and easily accessible via the A46. This road also provides a direct link with the A1 for journeys north or south. There are good local bus services to several destinations, including Lincoln and Newark, for those who prefer to use public transport.
Prices: On application.
Find out more at www.lindenhomes.co.uk or call 01522 849478
Oak View at Burcote Park in Wood Burcote, Northamptonshire (Redrow Homes)
Coming soon to the small village of Wood Burcote is Redrow's second phase of executive country homes at their Burcote Park development, situated in 59 acres of parkland, and offering bags of green, open space and established trees.
Wood Burcote neighbours the historic town of Towcester, which offers a superb range of amenities including supermarkets, restaurants, a leisure centre, GP surgeries, dentists, and more besides. There are some great local state and independent schools for all ages, including Towcester's ‘Outstanding’ Sponne School, which regularly achieves remarkable exam results and attracts pupils from miles around.
This development has a fantastic selection of well-known UK attractions within easy reach – including famous Silverstone Racecourse and beautiful Stowe Gardens.
Commuters will benefit from easy connections whether they are travelling to London or to the north of the country, with the M1 just minutes away from Oak View, and railway stations in both Milton Keynes and Northampton.
Find out more at www.redrow.co.uk or call 01327 272814