Easing the stress for first time buyers

One of the most stressful things you can do in your lifetime is move. It can take months of searching, weekends spent visiting various new developments, endless show home viewings, and usually a fair bit of ‘debate’ before you find that one place you can call home. When it comes to purchasing a new build property, six months is the average time it takes to go from perusing to purchase, and there are a lot of things to consider during this time period, principally the finance. For thosewho have never purchased a home before, this side of things can be especially difficult, but there is help out there tomake your dream of home ownership a reality. The major stumbling block when buying your first home is often trying to pull together the level of deposit needed to get a mortgage in the first place. Even with the benefit of stable jobs to ensure mortgage payments are made, the need for a substantial deposit can still work against first time buyers desperately trying to get their first steps on the property ladder. The Help to Buy scheme, available only on new build properties, is the ideal solution. The government scheme allows you to secure a property with an 80% mortgage. The scheme works by requiring the buyers to contribute a more manageable 5% deposit themselves, with the Scottish Government bringing the total deposit up to 20% with an equity loan. As a registered builder involved in the Help to Buy scheme, Malcolm Allan Housebuilders has seen many prospective homeowners greatly assisted by the initiative. However, with the criteria set to change in March 2017, now could be the perfect time to start looking for your new home with the support of Help to Buy. At present, the Help to Buy scheme is open to new build properties up to £230,000 in value. As of March 31, 2017, this figure will drop to £200,000. So, before that happens, why not take a look at Malcolm Allan’s range of apartments at Cattofield, Aberdeen, some of which are currently eligible for the scheme until March 2017. Apartment 25 in Block 4 is a twobedroom apartment with en-suite master bedroom. The apartment can be bought under the scheme using the following financial model. As well as comprising homes of the highest, modern standards in architecture, design and craftsmanship, Cattofield is also a convenient location for first time buyers, ideally situated in a well-established residential area of Aberdeen. Offering you the opportunity to enjoy all the benefits of suburban living, Cattofield is within easy reach of a wide range of amenities and transport links, as well as being well-served by schools and shops, with two major retail parks at Berryden and Kittybrewster conveniently close by. The city centre is also within walking distance and boasts fine restaurants, theatres, galleries, cinemas, concert halls, first-class shopping complexes, as well as bars and nightlife to suit all tastes. The University of Aberdeen campus and Aberdeen Royal Infirmary are nearby, as are othermajor employers in the city centre. The business parks at Dyce and Bridge of Don are only 10 minutes away by car. The development is easily accessible from all major routes in and out of the city, including the Anderson Drive Ring Road, and lies on several bus routes. The bus and railway stations are only a 10-minute drive, and Aberdeen International Airport is only five miles away. Cattofield is quite simply the perfect blend of location, quality and valuefor-money. And with a reputation for only building homes of the highest standard, nobody is better qualified thanMalcolm Allan to build the new home you want, and expect. To make things even easier for prospective buyers, Malcolm Allan is also delighted to announce the opening of their new view apartment, allowing visitors the opportunity to see just what a Malcolm Allan apartment has to offer.

Visit our marketing suite on Cattofield Terrace. We’re open Thursday to Monday from 10.30am to 5.30pm. You can find out more about the development on our website at www.mahousebuilders.com, or call our sales adviser, Pamela, on 07919 330 367.

5% Deposit provided by buyer: £11,000 15% Equity Loan from Scottish Government: £33,000 80% Mortgage: £176,000 Apartment Cost: £220,000 LBTT: £1,500