A GIANT new village the size of 64 football pitches – complete with shops, schools, sports pitches and a traveller site – has been unveiled in a masterplan.
The ambitious development is planned for farmland west of Paddock Wood, Kent, and could deliver up to 800 homes as part of a major expansion of the town.
LDRS/GoogleForty per cent of the homes are expected to be affordable housing, something the developer says will help meet growing demand in the area.[/caption]
Developer Crest Nicholson says it will submit a planning application within weeks for the ambitious scheme.
The plans also include a primary school, a local centre with shops, and land safeguarded for a brand-new secondary school with space to expand.
An “illustrative masterplan” revealed earlier this year shows outdoor sports pitches with a pavilion, a children’s play area, and a central road designed to support a bus route running through the heart of the estate.
Forty per cent of the homes are expected to be affordable housing, something the developer says will help meet growing demand in the area.
A Crest Nicholson spokesperson said: “We are in the final stages of preparing the planning application for the new village at Capel and Paddock Wood.
“Subject to final reviews and approvals, our expectation is to submit in Autumn 2025”, he told the BBC.
They also argued the development would represent an 80 per cent population increase in Capel.
Kent County Council’s highways department has said a full transport assessment must be submitted with the application.
Councillors believe the project is crucial for the future growth of Paddock Wood.
Liberal Democrat councillor Adrian Pitts said the development was “very key” to the town but warned: “I think you’ve got to have the infrastructure first. There is a big issue in the background, which is coping with the flooding that area already sees.”
The site forms part of the Tunbridge Wells Local Plan, which aims to provide thousands of new homes over the next 15 years.
A full planning application for the new village is expected to be submitted later this year, with Crest Nicholson promising to take local feedback into account.
Support for first-time buyers
There are plenty of support schemes that first-time buyers can access to make it easier to get on the ladder.
First home schemes
If you live in England, the First Homes scheme allows you to buy a property with up to 50% discounted from its market price.
To use the scheme, you must be a first-time buyer and be aged 18 or older.
And you’ll need to earn less than £80,000 a year before tax or £90,000 if the property is in London.
Shared ownership
Instead of buying a whole property, you instead buy a portion from as little 10% and pay rent to a landlord on the rest through shared ownership schemes.
Only buying a share of the home means the deposit and mortgage payments are much smaller.
You can then start to increase your stake in the property when you are able to afford it until you own it outright.
Availability of shared ownership homes vary depending on area and you may have to show you have a job or links in the location where you want to buy.
You can use the scheme in England if your household earns £80,000 a year or less when you’re buying outside of London, or £90,000 a year or less when you’re buying in London
Family assistance
Members of your family can help you by gifting a deposit but even if they are not in the position to do this, there are other options such as joint mortgages with relatives or 100% mortgages with parental security.
For example, Barclays’ Family Springboard Mortgage allows buyers to get a home without saving a deposit at all when a family member or friend puts up savings worth 10 per cent of the purchase price.
The money is returned to the helper after five years as long as the mortgage payments are kept up.
Specialist mortgages
More lenders are offering innovative mortgages to help buyers get on the ladder.
For example, if you can pull together £5,000 for a deposit, you could qualify for Yorkshire Build Society’s specialised mortgage for first-time buyers.
Borrowers can get a mortgage on properties up to £500,00 with the deal.
Or if you rent a home and have a good track record of paying the bill each month, you could qualify for a specialised deal from Skipton Building Society – and you don’t need to save a deposit at all.
The Track Record 100% mortgage from the lender is available to renters buying their first property.
Lifetime ISA (LISA)
You can give your savings a boost through a special ISA designed to help people save for either a first home.
The account is tax-free and anyone aged between 18-39 can open one.
When saving up to £4,000 a year and the government will then add a 25% bonus on top.
Crest NicholsonThe plans also include a primary school, a local centre with shops, and land safeguarded for a brand-new secondary school with space to expand[/caption] Published: [#item_custom_pubDate]
