Homes in Daventry with Just 5% Deposit
Crest Nicholson has announced that it will offer Deposit Unlock, a new low deposit mortgage solution, at its Daventry development, Monksmoor Park. The incentive will allow customers to access 95 per cent loan-to-value mortgages, helping buyers in Northamptonshire to get onto or move up the housing ladder at Union Place, Central Point and The Rowans.
Developed by the Home Building Industry as an alternative to the Government-backed Help to Buy: Equity Loan scheme, Deposit Unlock will offer purchasers of new build homes the opportunity to secure a low deposit mortgage with selected lenders. Newcastle Building Society is the first national lender to participate in the scheme which will be available to all buyers, unlike the Help to Buy initiative which is restricted to first time purchasers.
With Deposit Unlock, home hunters will be able to buy a new build home at Monksmoor Park costing £300,000 with a deposit of just £15,000. With most mortgages for homes requiring a minimum of 10 per cent up front, the new scheme will be invaluable to buyers in Daventry.
Vanessa MacNee, sales and marketing director at Crest Nicholson Midlands, said: “The launch of Deposit Unlock is an exciting step for Monksmoor Park and adds to the range of ways we can help customers into their dream home in Daventry, at either Union Place, Central Point or The Rowans. For many people, one of the key barriers to home ownership is saving up a large enough deposit, so this scheme will go a long way in helping people onto the property ladder.
She added: “Monksmoor Park is continuing to grow with the recent launch of the second phase at Union Place – comprising a collection of 114 two, three and four bedroom homes – and the final stage, Central Point, consisting of 24 three and four bedroom properties. New show homes will also be launched soon at the development. With such a diverse offering of homes, there really is something for everyone, from first time buyers to growing families and downsizers.”
Located just two miles north of Daventry and next to the Grand Union Canal, the development is nestled within an abundance of green space, exemplifying Crest Nicholson’s Garden Village principles.
With the Country Park close by, residents will be spoilt for choice when it comes to stunning walks and nature trails, while plenty of local amenities can be found a short distance away in the town centre. For commuters, the development provides easy access to the M1 and nearby Long Buckby train station which offers services to London Euston in just over an hour.