Redrow's Shared Equity Scheme Makes New Houses In North Yorkshire An 'Easi:Buy'

With just a few properties remaining unsold at the popular North Yorkshire new homes site, there may not be long for house hunters in the Selby area to snap up one of the two-, three- or four-bedroom properties at Redrow's Mulberry Grange in Hambleton. To make things easier for homebuyers looking to find a property, the housebuilder is offering its 'easi:buy' shared equity deal on several new home styles, requiring just a five per cent deposit and deferring payment of 20% of the property price for up to ten years.

"Mulberry Grange has been a great success and we're now nearing the end of this popular venture," says Patsy Aicken, sales manager for Redrow Homes (Yorkshire). "There may be some people who've been saving a deposit for a new home who are now worried about missing out but, with 'easi:buy', they could find that they are able to buy their dream home sooner than they expected. It could mean they only need a deposit of £6,000 to buy a two-bedroom home."

With the scheme, buyers get the benefit of 100% ownership of their home but fund just 80% of the price up front. This means lower monthly mortgage payments through having borrowed less and getting a more competitive rate than a typical 90% mortgage. Redrow funds the balance with an equity loan, repayable by the buyer when the property is sold or within 10 years, whichever is sooner.

Two of the featured homes with this offer are the 'Evesham' and 'Broadway' styles. The former has 2 bedrooms and is priced from £145,999, though with 'easi:buy' the up-front payment reduces to £116,799. The latter is a 3 bedroom home costing £164,999, though that comes down to £131,999 up-front with the 20% deferred payment.

Existing homeowners can opt to take advantage of Redrow's part exchange scheme if they plump for the 'Canterbury' four-bedroom home, priced at £284,999. The housebuilder acts as a cash buyer for the purchaser's old property, removing the requirement to sell it on the open market via an estate agent, saving time, hassle and a small fortune in fees.

Hambleton is a small village just a few miles west of Selby in the North Yorkshire countryside, providing a pleasant rural setting but with the M62, A19 and A1 all within a few minutes' drive, road connections are excellent.


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Whathouse.co.uk is the web portal for New Build Homes in North Yorkshire and new affordable homes in Britain, the online face of What House?, which has promoted the best of new homes in Britain for over 100 years.