After just two years of saving Charlotte Rogers and Lee Barker are not only looking forward to moving into a home of their own, they’ve been able to buy bigger thanks to Help to Buy.
The couple currently live with their respective parents – Charlotte in Langdon Hills and Lee in Basildon, but will be moving into a three-bedroom Ludlow style property at Redrow’s Oaklands Park development in Thundersley in 2017.
Originally they thought they’d need to save longer or at least buy an apartment as a starter home. That was until they learned that Help to Buy equity loans were available.
“We’ve been together for four years and decided two years ago we wanted to buy a home together so started saving for a deposit. We could have moved in together then, but decided to stay with our parents so that we could save more rather than throwing money away on rent. We’ve tried to find a balance between sensible budgeting and still having social lives and going on holiday by setting ourselves a target as to how much we wanted to set aside every month,” Charlotte explains.
“The plan had been to save a bit longer, but we started looking to get a benchmark on prices and visited Oaklands Park. Initially we’d expected to only be able to afford an apartment and didn’t think the price was right for us at Oaklands Park. Then we found out that Help to Buy was available.
“We’d heard about the scheme, but hadn’t taken into consideration until Leon mentioned it. We read up on it and Lee, who is training to be an accountant, looked at all of the figures and realised that not only could we afford to buy, but we’d be able to jump onto the property ladder, skip a couple of steps and buy a three-bedroom home.”
To purchase using Help to Buy customers typically only need a 5% deposit and 75% mortgage. The remaining 20% is covered by an equity loan, which is interest free for five years.
Lee and Charlotte had considered older properties and were open to suggestions as to the kind of home they purchased, but Charlotte says they had their hearts set on a new build.
“Leon was really helpful and gave us lots of information about the homes and the help available. We liked the décor of the show home and generally got a good vibe from Oaklands Park. It’s set back off the main road and you wouldn’t know it was there if you didn’t go looking,” she adds.
They travelled to Kent to view a show home in the style of the three-bedroom semi-detached Ludlow they went on to reserve and are now enjoying being able to customise their new home using the My Redrow feature of the website.
“It will be nice to go in and know that no one else has ever lived there,” Charlotte says. “Using My Redrow is just like online shopping – you can choose what colour kitchen cupboards and work tops you want, and the style of the tiles to put your own stamp on it even before you move in.”
For more details about Oaklands Park, go to www.redrow.co.uk/oaklandspark.