The UK’s love affair with home ownership is making headlines again and, with one recent study reporting that 96% of people in rented accommodation dream of owning their own home#, home-buying is firmly back in fashion.
What’s more, with the new Head of the Bank of England indicating that current low interest rates levels are set to remain, it’s not just first time buyers that are showing renewed interest in the market. House builders, including Linden Homes, are reporting increased enquiries from all types of purchasers as second-steppers, downsizers and buy-to-let investors are becoming increasingly aware that now is a good time to buy.
While there has been a lot of focus on the Government’s Help to Buy initiative, it’s not the only flexible scheme available that can help get prospective homebuyers moving.
At Linden Homes Western’s Impact development in Midsomer Norton near Bath, Somerset, homebuyers can select from Help to Buyi , Part Exchange* or Assisted Move*.
Help to Buy is open to all qualifying homebuyers – not just first-time buyers – and at Impact it means that purchasers could secure a new home with a deposit of just £5,999. Under the scheme the Government provides an interest free loan for the first five years of up to 20% of the property value, up to the value of £600,000, so buyers can purchase a new home with just a 5% deposit combined with the 20% Government equity loan. This loan can be repaid at any time within 25 years or on the sale of the property.
Through Part Exchange, Linden becomes the guaranteed cash buyer so movers can buy and sell in one easy step with no chain and no estate agent fees, while, with Assisted Move, purchasers can buy one of Linden’s new homes and it will sell yours, deal with the estate agents, pay their fees and ensure buyers get the best price for their existing home.
Sue Scholfield, Sales Director of Linden Homes Western, said: “Whether you are one of the three in five renters that ‘would like to buy but think they cannot afford it’, or a family looking for a larger home – or even looking to release capital by moving to a smaller home, with Linden Homes purchasers can opt for the best flexible moving scheme for them.”
For more information call 0844 488 3061.
The full Rightmove report can be viewed at: http://www.rightmove.co.uk/news/articles/property-news/renters-love-affair-with-homeownership-as-strong-as-ever
# Information from Rightmove’s Rental Market Report, August 2013, based on survey of over 3,000 tenants.
i Subject to status, ‘Help to Buy’ Terms & Conditions and available on selected properties in England only. Eligible applicants will be offered an equity loan up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings/deposit where required. The equity loan is provided by the HCA and held as a second charge. This offer is not available in conjunction with any other promotion. Full details will be provided on request.
* Subject to scheme rules and not available in conjunction with any other offers.
For further information, contact Samantha Stagg or Madeleine Hardman, James Reed Public Relations Ltd, Tel: 0117 929 0405 or email: firstname.lastname@example.org
23 August 2013