Homeowners get on ladder with help to buy scheme at Edison Place

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National housebuilder St Modwen Homes has seen a raft of sales at its Edison Place development in Rugby, having already sold all of the homes initially released for sale.

Statistics from the award-winning housebuilder also show that more than 60 per cent of those homes sold at Edison Place have been purchased under the Government’s equity loan scheme, Help to Buy.

Help to Buy aims to give people on all stages of the property ladder the opportunity to purchase a new home with a deposit of just five per cent.

Under the scheme, the Government will lend up to 20 per cent of the value of the property through an equity loan.

The purchaser will have to pay just 80 per cent of the cost of the property - made up of a 75 per cent mortgage and five per cent deposit - but will own 100 per cent of their home.

Neil Simpson, sales and marketing director at St Modwen Homes, said: “We are overwhelmed by the positive reaction to the development which has seen constant interest since its launch earlier this year, and feel it is a real reflection on the high quality and individuality of the new properties that St Modwen Homes strives to deliver across all its developments.

“Purchasing from plan gives househunters a great opportunity to tailor their new home to suit their individual tastes, with a range of contemporary fitted kitchens, plus a variety of tiles and flooring to choose from. With the new show home due to be launched within a matter of weeks, househunters are advised to reserve early and take advantage of the pre-show home prices.”

For more information telephone 0844 243 4646 or visit stmodwenhomes.co.uk