Why Rent When I'ts Cheaper To Buy? Help For First Time Buyers At Tithe Barn
02 Oct 2017

It’s a good question. Buying your own home can save you a lot of money.

Linden Homes is helping first time buyers get on the property ladder at its Tithe Barn development in Exeter, where it can work out cheaper to buy than rent.

Brian Deacon, sales and marketing director for Linden Homes, said: “For tenants, paying monthly rent to their landlords isn’t just money down the drain, it can actually be more expensive than buying!

“By owning a brand new Linden home your energy bills are likely to be reduced as a result of the energy efficiency features and you won’t get any nasty surprises associated with buying a second hand property, like the need for a new roof or boiler. Owning your home is very special, you can decorate it as you wish, make any changes and it’s a savvy investment for the future.

“There are a number of initiatives available to help with that much needed deposit but it’s the monthly savings that are really impressive.”

In Exeter a typical new three bedroom house would cost approximately £1,000 to rent each month. However, using the government’s Help to Buy scheme to purchase a similar £274,950 home would save over £280 per month!

Adam Champion, an independent expert from New Homes Mortgage Helpline, explained: “Home 104 is a contemporary three bedroom house priced at £274,950. Using Help to Buy, you would only need a five per cent deposit of £13,748. There would be a 20 per cent government equity loan and then you would only require a 75 per cent mortgage of £206,213, which would equate to £712 per month, based on Santander’s 1.39 per cent two year fixed mortgage over a 30 year term.”

Brian added: “Joining the housing ladder is not just a good investment in the long term but it pays to move in the short term too. We’re very passionate about helping people to achieve that important milestone – if you are uncertain about Help to Buy, we would encourage you to come and talk it through with our sales executives. We have independent financial advisors available to explain the process and offer advice, so you could move sooner than you think, and save money, thanks to Help to Buy.”

To clarify the Help to Buy process Linden Homes has created a new step-by-step animation which gives a simple overview of the scheme. To view the animation, visit: www.lindenhomes.co.uk/helptobuy

Located on the outskirts of Exeter with easy access to the A30 and M5, Tithe Barn is a popular development that is currently offering a selection of stylish three bedroom homes.

For more information visit the show homes, open daily from 10am to 5pm, off Tithebarn Link Road, Monkerton, Exeter, EX1 3RH, call 01392 338 588


Media can contact Emma Mackay on 07738312960 for more information, images and interviews with Linden Homes.

References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith 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.