Julie Frith, New Homes Director said: “It’s a well-known fact that buying a home and financing a car is very difficult for many people, so this offer from Gemini’s developer, Blue Sonic, is the ultimate moving in present! Buyers who reserve an apartment in April will receive a brand new Kia Picanto, which was voted What Car? Best City Car of the Year 2019, when the sale completes.
“We expect this will appeal to many people, especially those who need a car to commute to work. The apartments all have private parking and start at £275,000. What’s more, they can be bought with the help of the Government-backed Help to Buy scheme, making home ownership even more achievable.”
To illustrate how it could work, one of our partner mortgage brokers has put together the following example:
- 5% deposit – £13,750
- 20% Help to Buy equity loan – £55,000
- 75% mortgage – £206,250
- 26 monthly payments at a fixed rate of 1.59% £724.24 (example through Santander)
- During the two year initial fixed rate, reverting to standard rate for the remainder of the 25 year fixed term.