Edenstone has signed up to two schemes to help get people moving – Own New Rate Reducer and Deposit Unlock. They’re being offered on all new homes at St Mary’s Garden Village.

By partnering with Own New to offer the Rate Reducer scheme, Edenstone buyers will have access to lower interest rates and reduced monthly mortgage repayments during the initial mortgage period.

Alternatively, there’s Deposit Unlock, a scheme devised in collaboration with lenders and the home building industry, which offers purchasers the opportunity to buy a new home with a low deposit while still being able to access competitive interest rates. This could be a deposit of as little as £99 but would typically be 5% with a 95% mortgage.

Edenstone Group operations director Chris Edge said: “People tell us they want to move but they’re waiting for lower interest rates or until they have a more substantial deposit before committing to buy.  We’ve been exploring how we can help buyers navigate their finance options and have come up with two potential solutions – Own New Rate Reducer and Deposit Unlock.  They’re both exclusive to new build homes and have the potential to make a significant difference to buyers’ budgets.

“With Rate Reducer, we’ll contribute towards the customer’s mortgage, so the lender then offers them a more competitive rate for the initial mortgage term, usually two to five years. Deposit Unlock is a mortgage insurance policy that enables lenders to offer a 95% loan-to-value mortgage. This means people buying this way should only need a 5% deposit. We can recommend independent financial advisors with access to the entire mortgage market who’ll be able to help buyers assess their finances and work out which route is best for them.”

Using Own New Rate Reducer buyers could find they’re able to access mortgage rates below 2.39%*. This example assumes a 3% homebuilder incentive and is based on mortgage rates available in the market, with a two-year initial period and a loan to value of 60%. Savings made in the initial fixed period.

Independent financial advice must be sought from a regulated mortgage broker to access this scheme. Your home may be repossessed if you do not keep up your mortgage repayments.

St Mary’s Garden Village features a good choice of two, three and four-bedroom homes.

Current availability from the Edenstone Group’s Bluebell Homes brand includes three-bedroom properties priced from £275,000 and four-bedroom designs from £365,000.

The homebuilder is also offering to help homeowners move on and sell up with the offer of part exchange on selected plots.

Homes on the latest phase of St Mary’s Garden Village score the highest Energy Performance Certificate rating of A, meaning they’re among the most efficient available. Research from the Home Builders Federation suggests someone moving from an older house to one of these A rated new homes could save up to £2,579 on their annual energy bills

Nestled on the outskirts of Ross on Wye, St Mary’s Garden Village will eventually feature 348 homes. Many of the community facilities being provided as part of the new neighbourhood are already available for use including a play area, formal garden, allotments and community hub with gym.

The show homes and sales centre at St Mary’s Garden Village are open daily. For more information see www.bluebellhomes.co.uk/stmarys.