Narrows Place

Find out about your

Mortgage options

With an ever-growing portfolio of properties, you can be confident that you will find a home that is the right fit for you

Once you have discovered your new home there are a range of purchasing options available to you that can help make that dream become a reality

Residential (owner occupied) Mortgages

This type of mortgage can be used when purchasing a property for your own personal use, as either a main residence or a second property/holiday home. Every application will be tailored to an individual’s personal circumstances and consideration given to; affordability, term of the loan, repayment method and future plans.

Lenders typically request a minimum of 10% deposit, unless using the Help to Buy equity loan, which only requires 5% from the applicant. At this level interest rates start around 3.05% per annum but a larger deposit (40%) could open up interest rates as low as 1.22%.

Buy to Let Mortgages

This type of mortgage is used when purchasing a property as an investment, which will be let out either on an AST or short-term/holiday let basis.

The typical deposit for a BTL is 25% of the purchase price though there are some buy to let lenders that will accept 20%. Currently BTL interest rates can be as low as 1.19% per annum, with a 35% deposit required. With a 25% deposit, rates can be around 1.59%+.

Affordability is less reliant on your personal income but based on what the property can be let out for. Every lender will assess the rental amount differently to the next so it is important that you get the best option for your circumstance.

The Developer has teamed up with Teal Finance, so if you're looking to use a residential, buy to let or help to buy mortgage please let us know and we will put you in touch.

Help to Buy

The Help to Buy scheme is often used to help buy a home sooner and with a smaller deposit, perfect for those looking to step out into the world on their own for the first time.

Simply contribute as little as a 5% deposit on a newly built home and your mortgage will make up the rest after the 20% equity loan, which will be interest free for 5 years!

Sales Process

When buying a property from Estateducation, the process couldn’t be simpler. We like to keep things straightforward by managing the sales process in-house. Our consultancy team delivers an efficient and knowledgeable service in helping buyers make informed decisions.

Need a mortgage?

If you're looking to use a residential, buy to let, holiday let or Help to Buy mortgage, all pre approvals are required to be qualified by Teal Finance. Should Teal Finance process your mortgage, they will do so FEE FREE with just a £25 charge required for its KYC & AML checks.

Teal Finance is a broker not a lender and is independent with access to a wide range of lenders across all market segments. Call 01603 574404 to obtain your pre approval if you need to obtain a mortgage to buy one of the stunning apartments at Narrows Place, Norwich.

Teal Finance

Fees Explained

Fees

The Help to Buy scheme is often used to help buy a home sooner and with a smaller deposit, perfect for those looking to step out into the world on their own for the first time.

Simply contribute as little as a 5% deposit on a newly built home and your mortgage will make up the rest after the 20% equity loan, which will be interest free for 5 years!

  • £5,000 Reservation Deposit (£500 for Help to Buy)
  • £299 + VAT Admin Fee
  • 10% property value due on exchange