Linden Homes Exclusive 95 Per Cent Mortgage Helps Buyers Onto The Property Ladder

Linden Homes, the award winning housebuilding division of Galliford Try, is seeing an influx of first time buyers across the country enquiring about its exclusive mortgage indemnity scheme, just weeks after it was launched.

Step Up is designed to help first time buyers achieve their dream of home ownership with limited deposits, as well as buyers who have experienced equity loss in their home, overcome the tight lending conditions which have weighed on the broader housing market.

The product offers a market-leading rate of 4.99 per cent, fixed until April 2015, on a 95 per cent loan to value mortgage. Buyers with a 10 to 15 per cent deposit will benefit from even more attractive rates of 4.49 and 3.99 per cent respectively, which are also fixed for the same period.

Tom Nicholson, Linden Homes’ Group Special Projects Director, said these exclusive new mortgage products are designed to work alongside the government’s measures to help thousands of people across the UK struggling to access affordable lending – particularly first and second time buyers, which are due to be implemented over the coming months.

“Step Up is a great scheme that opens up financial options to first time buyers with limited deposits, and to those buyers who have been locked out of the market due to a lack of equity,” he said.

“We are seeing many first time buyers are also being spurred on to buy now before the end of the stamp duty holiday at the end of March. Over the last quarter alone, 1,812 first time buyers registered an interest via our website to receive information about our specific developments and, they are the only buyer type which retained a strong appetite for buying in December with all others falling slightly during the weeks leading up to the end of the year.

“There is a trend, particularly in the South East, where buyers are looking to move out of rented properties and into a home of their own. However, many people do not realise that 95 per cent lending is a very real possibility once again.”

Linden Homes continues to work hard to ensure affordable, responsible lending options are available to their new home purchasers across the country. The housebuilding industry is one of the major contributors to the UK’s economy, and so it is essential that homes can be built and sold to provide the much-needed growth.

Alongside Step Up, Linden Homes has launched a new mortgage deposit scheme in association with Hitachi Capital (UK) PLC. Named Deposit Assist, the product means buyers can secure up to 15 per cent of the purchase price in the form of an unsecured top-up loan, helping buyers bring a bigger deposit to the table when applying for a mortgage. 

The company also offers a number of other financial enablers, including: ‘Easy Start’ Linden Homes’ own equity share scheme; ‘First Buy’, the Government-led equity share scheme; and ‘Family Assist’, an unsecured top-up loan for parents to gift to their child.

-ENDS-

For further information, contact Lyndsay Scanlan or Amy Bryant-Jeffries at Remarkable Public Relations on 01962 893 893.

29 February 2012

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