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First-time buyers need just a 5% deposit to own a brand new home!

Under the innovative East Start and HomeBuy Direct initiatives, would-be homeowners can secure a new home with 5% deposits and mortgages as low as 70% of the full price – the remainder topped up with interest-free loans.

The government-backed HomeBuy Direct initiative means qualifying first-time buyers with a household income of less than £60,000 could pick up a two-bedroom apartment at Limes Park priced £159,995 with an £8,000 deposit and a mortgage of just £112,000.

Taylor Wimpey and the Homes and Community Agency jointly fund the remaining amount through a great-value loan, which is interest-free for the first five years and low-interest for up to 20 years thereafter.

As an alternative, the Easy Start plan enables qualifying first-time buyers with a 5% deposit to purchase a stylish studio apartment at Marnel Park priced from only £97,995 with an 80% mortgage of only £78,400. 

With the first 5% put down by the customer, Marnel Park developer George Wimpey – part of the Taylor Wimpey company – provides an interest-free loan for the remaining 15%, which can be repaid by the homeowner in up to three instalments over the 10-year loan period.

Easy Start loans are also available at Taylor Wimpey’s Everest Park development, where two-bedroom apartments priced £139,995 can be purchased with 80% mortgages from just £112,000.

Tim Betts, Sales and Marketing Director for Taylor Wimpey West London, says: “Property prices are creeping upwards and we are beginning to emerge from the recession, so canny first-time buyers should really look to take advantage of these exceptional incentives now, while mortgage rates remain low.

“If buyers use Easy Start and HomeBuy Direct now to get on the ladder, they will be in a very strong equity position if house prices continue to rise – and there is every chance of that being the case.”

As well as offering exceptional space and style for a great-value price, all new homes at Marnel Park, Everest Park and Limes Park are finished to a high standard specification and include central heating, double glazing and a sophisticated fitted kitchen complete with integrated oven, hob and hood.

The developments occupy beautiful, semi-rural locations to the north of Basingstoke town centre, yet with excellent road links to anywhere in town and within easy reach of North Hampshire Hospital and a good number of other local employers.

Basingstoke is home to bustling modern shops, good schools and exciting leisure activities, plus music venues, a choice of multi-screen cinemas, tennis courts, a leisure park, sports clubs, an ice rink, a swimming pool and bowling alleys. Festival Place shopping centre, meanwhile, provides an excellent range of stores, restaurants and cafes.

For commuters, Basingstoke station runs frequent services to London Waterloo in just 45 minutes, and the M3 is just a short drive away.

First-time buyers keen to find out more can log on to www.taylorwimpey.co.uk or visit any of the following new homes developments in Basingstoke, open seven days a week:

·         Limes Park, 1 Peggs Way, Park Village – 0845 026 5113 (open 10am to 5.30pm)

·         Marnel Park, off Carpenters Down, Popley – 0845 026 5016 (open 10.30am to 5.30pm)

·         Everest Park off Popley Way – 0845 672 8447 (open 10.30am to 5.30pm)

Information on all Taylor Wimpey developments across the region is available by calling 01256 745 203 or by visiting the web site at www.taylorwimpey.co.uk.