Redrow offers special discount on new homes in Tamworth for local buyers

With the affordability of property a prime concern for many potential homebuyers, people in and around Tamworth, Staffordshire will be delighted by a new discount deal on offer from Redrow on one of its local new homes developments.

Apartments at Pennine Grange are on the open market for £110,000 but subject to qualifying criteria related to family size and residency, Redrow is offering a 15% discount to property hunters with strong links to the Tamworth area.

The discount scheme means that a one-bedroom apartment usually costing £110,000 can be purchased from £93,500, and a two-bedroom apartment at £130,000 is reduced to just £110,500.

Pauline Turnbull, sales director for Redrow Homes (Midlands), says: “Redrow is not just concerned about the houses it builds but also the communities in which it provides them. We look for ways to invest in and improve life for people in the areas in which we develop and the discount scheme at Pennine Grange is clearly one very important way in which we can help. So while many people may think they can’t afford to buy, we’d urge them to reconsider as they could find they’re in a more favourable financial position that they realised.”

The housebuilder’s scheme has one important difference over the most popular government-backed assistance scheme for new homes buyers. “Unlike schemes like Help to Buy, the homeowner never has to pay back the 15%,” explains Turnbull. “All we ask is that they pass on the saving to the new owner when they come to resell. By ensuring that these properties can only ever be resold at 85% of market value they will remain affordable for future generations of homeowners too.”

Outside of the discount scheme, Pennine Grange also offers a choice of four-bedroom homes priced from £304,995 which are available using the Help to Buy scheme, which requires a 5% deposit and offers a 20% equity loan from the government that only needs to be repaid when the home is sold.

Find out more about the Pennine Grange development from Redrow Homes.

Redrow’s criteria for discounts on one-bedroom apartments at Pennine Grange:

Designated affordable homes containing one bedroom shall be occupied by a person or persons who, on the date they first occupy the property fall within one of the following categories:

• Single persons aged under 30 who have been resident in Tamworth for a continuous period of three years immediately preceding that date; or
• Single person aged 30 years or over who have been resident in Tamworth for a continuous period of five years immediately preceding that date;
• Couples, one of whom has been resident in Tamworth for a continuous period of three years immediately preceding that date; or
• Couples, one of whom is aged over 60 and who has been resident in Tamworth for a continuous period of five years immediately preceding that date.

Redrow’s criteria for discounts on two-bedroom apartments at Pennine Grange:

An affordable housing unit containing two bedrooms shall be occupied by a person or persons who on the day they first occupy the property fall within one of the following categories:

• Persons who are a family containing one child and who has been resident in the Borough of Tamworth for a continuous period of not less than six months in the 12 months preceding that date, or who have been resident for a continuous period of not less than three years in the five years preceding that date: or
• Persons who are family containing two children of the same gender and who have been resident in the Borough of Tamworth for a continuous period of not less than six months in the 12 months preceding that date, or who have been resident for a continuous period of not less than three years in five years preceding that date; or
• Family (i.e. including a child or children) who is on the Council’s Housing Register