The government-backed Help to Buy scheme is proving popular at Crest Nicholson’s Centenary Quay development in Southampton, especially with teachers looking to own their first home and families looking to move up the property ladder.

The shared equity scheme enables first and second time buyers to secure their new home for 75% of its full price, and only pay a 5% deposit.

Susan Young, Sales & Marketing Director, Crest Nicholson Regeneration, comments: “Since the launch of the scheme we’ve been inundated by enquiries from buyers eager to capitalise on the new scheme. As Help to Buy is not only for first-time buyers but is also for those who are looking to move from an existing property, we’ve had enquiries from a wide variety of buyers, especially from people working as teachers and also families.

“The scheme is proving a real boost to buyers in the area and we’re confident that as more people become aware of the scheme interest will continue to rise as people realise that they don’t need such a big deposit and they can also save thousand’s in interest payments over the first 5 years and throughout the term of the mortgage.”

Help to Buy brings the move-in price of a one bedroom corner apartment (plot 2090) at Centenary Quay down from £138,950 to £111,010 plus the Government loan for the remaining 20 per cent (£27,940) with no interest payable for the first five years. The buyer pays a 5% deposit of £6,797 and is left to arrange a 75% mortgage of £104,210.

This means buyers can save over £10,000 by having an interest free loan for over 5 years on a one bedroom apartment priced at £138,950.

The homes at Centenary Quay have been awarded a Code 3 for sustainable homes by the Energy Saving Trust, which means lower running costs and a reduced environmental impact. The built-in Bosch oven, hob, extractor hood and fridge/freezer are all integrated to maintain a sleek contemporary kitchen and combine high performance with low energy use.

The apartments also benefit from low-maintenance thermally efficient windows, which are designed to maximise natural daylight in your home.

When complete, Centenary Quay will deliver 1,620 new homes in total providing accommodation for around 3000 residents, significantly regenerating the riverside of Woolston. The seven year investment programme covers an overall area of 31 acres and will provide a range of restaurants and cafes, a supermarket, several community facilities including a nursery and a library, a children’s play area, Primary Care Trust facility and a new marine quarter to meet the needs of the marine industry.

For further information on the homes available at Centenary Quay please contact the Sales Office, 15 Vosper Road, Woolston, Southampton SO19 9EG on 0870 758 0432 or visit www.centenaryquay.com