For many people, lockdown has highlighted the need for a home office or a bigger garden and coupled with the Stamp Duty holiday, it’s not surprising that the property market is busier than ever.
Vistry Group – which includes Bovis Homes and Linden Homes – has seen high levels of enquiries and reservations across all its developments and Sue Scholfield, Vistry Western’s sales and marketing director, commented: “Many buyers are wanting to move to a larger property in a more rural location. Also, a home office or a fourth bedroom – which could be used as a study – is being frequently requested. However, there is such a demand that we wanted to provide some helpful advice.”
Sue’s tips for homebuyers:
New homes independent mortgage specialist, Felicity Barnett, is a national account manager at The Mortgage Brain and added: “The market is so buoyant at the moment. We are seeing a lot of first time buyers, around 30-35 years old and also second time movers, who are looking for more space with their growing family.
“The Stamp Duty holiday and competitive mortgage rates has meant there are a number of homebuyers keen to take advantage of the current situation. Five year fixed term mortgages have been increasingly popular as people seek security in their level of repayment. However, mortgage rates are just starting to rise slightly and the sheer demand in volume means it can take lenders 30 days to provide a mortgage offer, so my advice is to act soon and to try to have 15 per cent as a deposit to secure a good loan to value.
“One benefit of using a new home specialist is that we have access to certain products that aren’t available on the high street. For example, we are able to provide an exclusive deal between Vistry Group and Barclays Bank. The Barclays Bank Green mortgage offers a discounted rate for Vistry Group customers as the homes have a high energy efficiency rating. For example, a five year fixed rate mortgage with a 85 per cent loan to value is currently at 3.08 per cent.*
“We also have a lot of experience in dealing with schemes like Help to Buy, which is due to change soon, and Home Reach, which can help people to afford the space they really need. Whether you’re buying a family home in Ashchurch, your first apartment with the Home Reach part-buy-part-rent scheme in Harry Stoke in Bristol, or you’re looking for a new home with a thatched roof in Wells, we can help. We pride ourselves on being able to find mortgages to suit everyone’s needs so please do get in touch.”
Sue added: “If you’re interested in buying a new home then contact the marketing suite and arrange to get qualified by an independent financial advisor before you visit the development. Many people do not know how much they can afford due to lenders’ complex affordability calculations, but by knowing the full picture you’ll be able to save time and select the perfect home for you.”
* Terms and conditions apply. Your home may be repossessed if you do not keep up repayments on your mortgage.
Contact: Emma Mackay, Bovis Homes and Linden Homes, 077383 12960 / email@example.com
References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith, Vistry Ventures or one of Vistry’s joint venture companies) from which you are intending to purchase a new home. References to "you” and “your” are to the prospective buyer or buyers of a new home from us.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.