Cheaper to buy than rent in Selby
24 September 2014
Renters could be wasting money when they could buy their own brand new apartment in the same area for less
Persimmon Homes says new apartments at its Staynor Hall development in Selby start from as little as £62 a week, at least £38* less than an equivalent rental property.
Kevin Thubron, sales director at Persimmon Homes Yorkshire believes using the Government backed Help to Buy scheme offers an affordable solution for first time buyers wanting to make the move to property ownership. He said: “We have an exciting range of 12 two–bedroom apartments at our development off Bawtry Lane, which offer all the luxuries of modern day living with a spacious open plan kitchen-diner and living room with a Juliet-style balcony and good size bedrooms. By using the Help to Buy scheme there has never been a better time for buyers to ditch their rental bills and start investing in their own future.Currently buyers can get the best deals by purchasing the apartments off-plan,” added Kevin.
“Reserving at this stage means you can truly personalise your home by choosing from a range of fixtures and fittings such as kitchen units, flooring, tiles or accessories. Staynor Hall is in a great location, under a mile from Selby centre with shops and local amenities on its doorstep. There are also great commuter links, by rail and road, to York, Leeds, Doncaster and Hull making it a popular destination for homebuyers.”
The Staynor Hall apartments start from £99,999 **. When purchased through the Help to Buy scheme, the price is reduce to £79,999 with a five-year interest and repayment-free equity share loan of £20,000 making the mortgage repayments of £61.04 per week.
Using the scheme, buyers only need a five per cent deposit which is combined with the Government equity share loan for the term of the mortgage, worth 20 per cent of the property’s value.
* Source of average rental costs http://www.rightmove.co.uk/property-to-rent/Selby/flats.html
** Price correct at going to press.