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First-time buyers in Tonbridge struggling to get a footing on the property ladder have been thrown a much needed lifeline.

In conjunction with the Government, award-winning housebuilder Crest Nicholson has launched MyChoiceHomeBuy at its Wellington Place development in Tonbridge meaning that a range of affordably priced, highly-specified homes are now available.

MyChoiceHomeBuy is a Government funded shared equity scheme that means potential purchasers can buy a home on the open market with the help of a secured shared equity loan - between 15% and 50% of a property’s value, depending on individual circumstances. Therefore, purchasers who take advantage of MyChoiceHomeBuy at Wellington Place can secure a two bedroom apartment costing £175,000 for as little as £87,500.

The MyChoiceHomeBuy loan is redeemed in full when the property is sold; alternatively purchasers can increase their equity share in their property after 12 months. There is a low monthly interest charge on the loan of 1.75% per annum, this will increase annually in line with inflation.

Annette Cole, Sales and Marketing Director at Crest Nicholson (Eastern) Ltd. said: “This Government initiative is fantastic news for those first-time buyers who are keen to get on the property ladder but who are struggling with affordability. Despite the downturn, people still need homes and appreciate that it is better to invest monthly in a share of their own home rather than paying a landlord’s mortgage. This additional help for first-time buyers is really going to open up the market in the local area.”

Comprising a range of one, two and three bedroom apartments, Wellington Place is the latest phase of Crest Nicholson’s Market Quarter development positioned at the heart of Tonbridge’s conservation area; the architecture of the scheme has been carefully designed to blend and compliment the surrounding historical vernacular.

All homes are fresh and modern but also include some sought-after Victorian features. Internally the apartments are extremely well proportioned; high ceilings and large double glazed sash windows create light, elegant and spacious living areas. All apartments feature fully fitted Commodore kitchens, complete with a comprehensive range of integrated Neff appliances including oven, hob, stainless steel chimney hood extractor, fridge/freezer and dishwasher. Furthermore, bathrooms, ensuites and cloakrooms are complete with elegant white bathroom suites from Roca finished with chrome Hansgrohe accessories.

Tonbridge offers residents at Wellington Place a wide range of amenities right on their doorstep including cafes, bars and restaurants along with retail and leisure facilities. In addition, Royal Tunbridge Wells is close by, offering an even wider selection.

Transport links around Tonbridge are excellent; Tonbridge Mainline Station provides swift and efficient links to London Bridge, London Waterloo East, London Charing Cross and London Cannon Street, with journey times from 44-50 minutes. Alternatively, the nearby A21 provides excellent links to the M25.