Can you afford it?

The Vermont, detached four-bedroom house
£374,950
West Malling, Kent
Agent: Berkeley Homes, 01622 791723

The Vermont, detached four-bedroom house
£374,950
West Malling, Kent
Agent: Berkeley Homes, 01622 791723

What you get: Large New England-style home on three floors with timber elevations and an unusually high cantilevered roof. Principle rooms open to terraced balconies overlooking a lake to the front. Fully fitted white kitchen/diner to ground floor with granite work surfaces, range cooker and American-style fridge freezer. Family room to rear opens on to lawned garden. First-floor family shower room, two bedrooms and lounge. Two bedrooms to top floor, one with en-suite bathroom and walk-in dressing room, master bedroom with fitted wardrobe and en-suite. Neutral carpets are included.

Where is it? Leybourne Lakes, Larkfield, near West Malling, Kent. Part of a large new-build development surrounded by 250 acres of managed country parkland and 11 large lakes. Trains from West Malling to Victoria take 25 minutes. A bus service runs to Maidstone from the development. M25, M20 and M2 motorways are nearby.

What will it cost to buy? Quotes from HSBC (0800 494 999).
Home Buyer Mortgage (large advance) Variable Rate @ 5.24%
Deposit (10%): £37,495
Mortgage needed (90%): £337,455
Monthly payments: £2,021.29 (repayment)
Single income required (3.5x): £96,416
Joint income required (2.75x): £122,711
Deposit (20%): £74,990
Mortgage needed (80%): £299,960
Monthly payments £1,311.01 (interest only)
Single income required (3.75x): £79,989
Joint income required (3x): £99,987
Valuation fee: £290
Completion fee: £30
Other costs: Stamp duty: £11,248.50
Council tax: to be confirmed
Estate service charge: £380-£460
Reservation fee as part of cost: £1,000
Legal costs to include land registry and search fees: around £1,500 plus

Who will buy it? A family looking for an outdoor lifestyle, good space and quality for the price. Would also suit someone downsizing. Part exchange is available as long as the buyers' home is valued at a maximum of £245,000 (65% of the new property's selling price).

Potential: Once the development is established it should mature into a sought-after location. The train service to Victoria will be popular with commuters and future development is restricted as it is in a conservation area.

Information correct at time of publication. All quotes subject to status