First Time Buyers in Frinton-On-Sea & Kirby Cross
Are you a first-time buyer in Frinton & Kirby Cross? Then you’ll be glad to know that getting a mortgage isn’t as daunting as it once was. Now many lenders are accepting 5% deposits and they are also accepting gifted deposits from a family member. You also have the option of the Help to Buy scheme. This is running until the year 2023, and all you have to do is put down 5% of the price of the home you intend to buy.
You’ll get full ownership of the property, but the government will have an equity share. This can be up to 20%. When you’ve paid back the equity loan, they’ll no longer have this share. Some of the benefits that you get when you take this route include the fact that you can buy a new-build property with a very small deposit. You will have to contribute 80% of the property price, which can be done by putting down 5% yourself and then getting a mortgage at 75%.
There are many new and exciting developments happening in the area, such as the new community in Kirby Cross. The Laurels offers quality family homes that are suited to first-time buyers. There are 116 homes, that range from 2 to 4 bedrooms. You’ll have a lot of green space and there’s also a play area.
You also have Finches Park, where there’s a collection of new-builds. They range from 2 bedrooms to 5 bedrooms, and you’ll be close to the Essex coast, a highly desirable area. If you’re a member of the HM Forces, they have packages available too.
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