Fancy A New Build in the New Year?

If you’re thinking of moving home in 2021, why not consider a new build property? They have a whole host of benefits, the biggest ones being a ten-year NHBC warranty and not having a chain to contend with.

For those that value peace of mind above anything else, the warranty is important – it means the property has been built to the highest possible construction standards and that any structural defects will be covered.

Minimising the property chain is another huge advantage. Anyone who’s ever been involved in a long and complicated chain, with all the potential delays and uncertainty it can cause, might prefer to avoid this again! 

The Government are keen to help the sales of new homes and offer financial assistance through their Help to Buy scheme. Applications for the 2021-2023 scheme can now be made: you can borrow up to 20% of the value of a new build being up to £255,000 and you being a genuine first time buyer, see below the help to buy calculator for a £200,000 apartment.

Further benefits of new build properties are the high specifications and low maintenance. You’re likely to get the very latest appliances and energy saving features, combined with the fact nothing will need to be done –  apart from decorating to your own personal taste. And if you get in quick enough, you might be able to select your own fixtures and fittings to get it just the way you want it.

smarthomes have a range of new build apartments and houses for sale in Solihull and the surrounding area – some perfect for first time buyers, some tailor-made for the over 55’s or for those who have retired. To find out more about what’s available please call us on 0121 744 4144 – Option 4 or click here:

https://www.smart-homes.co.uk/new-homes-portfolio

Example Help to Buy Calculation

PP –   £255,000
20% equity loan- £51,000
5% deposit- £12,750
Mortgage- £191,250

5 Year Fix @ 1.99% 

Representative example: A mortgage of 75% payable over 35 years on a repayment basis, initially on a fixed rate for at 1.99%  until 31/05/2026 and then on a variable rate of 3.59% for the remaining 30 years would require 63 payments of £632.56 and 357 payments of £777.03. The total amount payable would be £317,365.99 made up of the loan amount plus interest (£317,250.99) and fees (£115, which includes exit fees of £80). The overall cost for comparison is 3.12% APRC representative. 

Article source:
https://www.which.co.uk/money/mortgages-and-property/new-build-homes/buying-a-new-build-home-a150k0g60456