Like many people trying to get onto the property ladder, Rachel Buchanan and Jamie Pelos were stuck in the trap of struggling to save while paying rent. Now, thanks to the Help to Buy scheme, the couple are happily installed in a brand new home. Not only that; in Urban Rhythm’s Wheatsheaf Works in the Knighton Fields area of Leicester, they have achieved their first choice of location and a home that was love at first sight.
The Government-backed scheme allows both first-time buyers and existing home owners to purchase a new-build home with just a 5% deposit and a 75% mortgage. The remaining 20% is covered by an equity loan from the Government, which is interest-free for the first five years. For Rachel and Jamie, this made all the difference, as Jamie explains: “We had been renting for five years and it was a nightmare trying to save enough for a deposit on our own home. We were keen to get onto the property ladder and always looking to see what was on the market, but without the scheme, we would still be trying to get enough money together for a deposit.”
Knighton Fields was the couple’s first choice of location as Rachel explains: “Knighton Fields is its own little village with bars, shops and restaurants and the area has a real sense of community. We have always rented here and it was where we really wanted to buy a home. My brother-in-law told us about what Urban Rhythm were doing at the old Wheatsheaf Works and when we went to look, we just fell in love with it.”
The fact that the properties at Wheatsheaf Works offer something out of the ordinary was the deciding factor for both Rachel and Jamie. Of the townhouse they chose, Jamie says: “Our first impression was that this home really did have the ‘wow’ factor. We both like things that are original and unique, so both the quirky building and the layout of the home immediately appealed to us. On the middle floor, we have original windows and high ceilings which make for a wonderful living space. It’s amazing what Urban Rhythm have done here.”
The sales office at Wheatsheaf Works is open Thursday to Monday from 10.30am to 5.30pm and can be contacted on 0116 210 0765 or 07734 768328.