Massive reduction in the deposit gets Simon onto the housing ladder

32-year old parts manager, Simon Johnson has joined the army of house buyers who have taken advantage of the Government’s NewBuy low deposit scheme.

A joint initiative established earlier this year between the house building industry and the Government, NewBuy aims to make homes more affordable. Simon is taking advantage of a 5% deposit and 95% mortgage to buy a one bedroom first floor apartment in Bellway’s Aqua development in Fenny Stratford, Milton Keynes.

“I have been renting property for the last 10 years and although it has provided a roof over my head, the only person who has benefitted is the landlord. As soon as the New Buy scheme was announced I started researching the property market to see what was available. Bellway’s Aqua scheme is very close to where my grandparents live so I knew the area well. I liked what Bellway were selling and the price was right, they helped me make all the financial arrangements which made the whole process fairly simple. I had been renting my last property in Newport Pagnal for two years paying £495 per month and I would much prefer to see that investment go towards a mortgage and a place of my own. For anyone wanting to buy their own home I would really recommend NewBuy.

Simon will be moving into Bellway’s Aqua development in October, currently Bellway has a selection of two bedroom apartments remaining at Aqua starting in price from £136,500.

Commenting on the New Buy scheme, Bellway’s sales director, Chris Edginton, said: “NewBuy has made a huge difference, last year a buyer would have required a deposit of around £22,400 to purchase a property valued at £112,000 with New Buy the same property can be bought for £5,600 which is a massive reduction opening the door to many more buyers.”

Fenny Stratford boasts a variety of restaurants, pubs and takeaways, as well as a superb variety of day-to-day shops. Also, within half a mile there is a Tesco’s hypermarket and retail park. The city centre of Milton Keynes itself is a major UK shopping hub with superb malls like Midsummer Place.  Or discover Europe’s largest indoor ‘real snow’ ski slope, rock climbing wall, 16-screen multiplex, ten-pin bowling, health and fitness centre, bars and restaurants, all under one roof at Xscape.

Whether you are window-shopping in one of its many stores or admiring the art and stained-glass window from one of its pavement cafes there is something here to suit everyone.

For commuters, Central Milton Keynes is approximately 3 1/2 miles distant. Road and rail links are excellent with the A5 being 1/2 mile and the M1 4 miles distant.  Bletchley main line station is 1 mile offering fast and frequent service to London in around 40-45 minutes.

For further information please call the sales centre Tel 01908 646486 open Friday to Monday 10am to 5pm and Thursdays 12noon to 7pm.