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Why rent when you can buy in Salisbury

A Salisbury builder says it is now cheaper to buy a brand new home at one of its developments than it is to rent.

Charles Church Wessex says buyers could purchase a brand new two-bedroom apartment at Knights Court in Salisbury for a monthly mortgage of just £509 using the Help to Buy scheme – just over £200 less than it would cost to rent the same home.

The housebuilder says the success of the scheme means there has never been a better time for first-time and next-time buyers looking to get their feet firmly on the property ladder.

Pauline Fletcher, sales and marketing director for Charles Church Wessex, said: “With the long-term forecast indicating that rent will continue to go up, there is no better option than to buy right now.

“At our Knights Court development in Salisbury we can help make it easier for prospective purchasers to take that all important step on to the property ladder and start investing in their own futures.”

Two-bedroom apartments at Knights Court start from £164,995. That can be reduced to £123,747 under the Help to Buy scheme, where the buyer meets 75 per cent of the cost and pays a five per cent deposit of £8,250. The Government then makes up the shortfall through an equity share loan.

Pauline said that a new buyer could move in to a two-bedroom apartment for a monthly mortgage of just £509 whilst it would cost up to £725 to rent the same home.

A first time buyer event is taking place at Knights Court this Saturday with a financial advisor on hand to offer expert advice. For more information visit www.charleschurch.com.

This was posted in Bdaily's Members' News section by Lee Southen .