The Guardian recently reported that, according to data provider Moneyfacts, mortgage rates across the board have fallen to their lowest level in 24 years – even for first time buyers.
It seems that recently, a raft of ‘best ever’ deals has meant that borrowers can now get hold of some of the lowest 2, 3 and 5 year fixed rates since 1989.
The lower rates already seem to be having an impact on the number of first-time buyers: According to the Council of Mortgage Lenders, 2012 saw the highest number of first time buyers entering the market in five years.
The effect of this has already been felt at Linden Homes’ development in Totton, The Mallards, all the one and two bedroom apartments (as well as three and four bedroom houses) have now sold out.
Adam Champion is the New Build Sales Director for The New Homes Group. He says there is a growing realization that mortgages are becoming more accessible and there are already lots of options for first time buyers:
“You can get deals on new homes that aren’t available for second hand ones and that’s because they’re funded, in one way or another, by the building companies. Linden Homes, for example, has more schemes available than anyone else and offers a 95% mortgage; they work with half a dozen or so different lenders to set these mortgages up.”
“And of course, there’s the Government led NewBuy scheme*, which is gathering momentum – this isn’t just for first time buyers it is for everyone (as long as the property being purchased is no more than £500,000).”
If your new year’s resolution for 2013 was to step onto the property ladder, then this will all be music to your ears. And it gets better. This may be the ideal time for you to come and see Landguard Place at Park Centrale in Southampton.
Landguard Place is a collection of 1, 2 and 3 bedroom new apartments and three bedroom duplexes (which are arranged over two floors). It is set within a conservation area off the southern tip of The Avenue in Southampton at Park Centrale, a tranquil oasis close to the heart of the city and conveniently located near to the M3 and M7, the station, the airport and ferry terminals.
Come and visit the marketing suite and have a chat about how you could afford to take that first property step at Landguard Place. Or, for more details about the homes available please call 0845 602 3892.
For further information, contact Claire McCowan or Tracy Mannion at Remarkable Public Relations on 01962 893 893 or Claire.email@example.com
18 March 2013