Rochdale development offers first-time buyers 'much needed lifeline'

08-Jul-2008

A so-called 'easi-buy' scheme in Manchester is being aimed at first-time buyers currently priced out of around 96 per cent of towns in the UK.

Rochdale's apartment development at Naden Mill in Norden and Church Gate, Milnrow will throw would-be home owners "a much needed lifeline", according to Redrow, the building firm responsible for it.

Its representatives pointed out that the properties can be snapped up for an initial outlay of a quarter less than the usual price, with a £124,995 flat going for around £93,750 and the balance paid ten years after.

Christine Aitken, the sales director for Redrow Homes' Lancashire arm, told Easier Property people taking their first step onto the housing ladder cannot currently afford to purchase a terraced property - "traditionally the least expensive property type" - in 71 per cent of UK towns.

"Redrow's 'easi-buy' scheme is making home ownership more accessible to first-time buyers in the Rochdale area, allowing them to own 100 per cent of their home today whilst deferring 25 per cent of the cost to a time when they have more funds available," she continued.

"Not only will the customer legally own 100 per cent of the property from the outset, they will not have to pay rent on the deferred element."

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need

Interest free deposit for new buyers Homebuy lifeline offered to Crewe residents

2012: Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar