House hunters can save hundreds of pounds each month with current rates on Help to Buy
Property hunters in Hampshire are being encouraged to make the most of impressive interest rates while they last. The advice comes further to Bank of England Governor Mark Carney’s warning advising interest rates could rise as early as the turn of the year.
Linden Homes which has a number of sites across the county of Hampshire is encouraging local people who are thinking about moving, to seize the moment and secure a low rate, affordable mortgage.
Adam Champion works for independent financial advisor, The New Homes Group. He explained: “The market has literally never been so good for the people of Hampshire. Interest rates are at an all-time low but are only set to stay for a short amount of time. These rates coupled with Help to Buy make a new home purchase so much more affordable than people realise. Better still, buyers now have the opportunity to lock down a mortgage for the next couple of years to take control of their finances and live in some real desirable locations across the county.”
And according to The New Homes Group, these benefits apply across the whole market. Adam explained: “Looking at the numbers on Help to Buy, for the lower end of the market, compared to five years ago buyers securing a mortgage for £200,000 are now approximately £230 better off each month, for the first two years of their mortgage. Similarly for those buying more expensive properties on Help to Buy at just under half a million for instance, could be saving over £450 per month in the first two years.”
Help to Buy, which was launched back in April 2013, applies to a range of potential purchasers including first-time and next-time buyers on properties up to the value of £600,000. Buyers are required to provide just a 5 per cent deposit to then borrow a further 20 per cent from the Government in the form of an equity loan. Buyers then only need a 75 per cent mortgage agreed by their bank or building society to secure their home.
Linden Homes marketing manager, Tina Chalk commented: “Buyers are far savvier these days and with so much in the press about the housing market, people need to understand how their monthly outgoings are going to be affected if they buy. The numbers speak for themselves: we have seen how the current rates can really make a difference to people’s monthly bills. If you are considering moving then we would urge you to do so as soon as you can this year, as this current healthy climate is unlikely to stay.”
The people of Hampshire have an opportunity to secure a home with these impressive rates at any of the Linden Homes developments across the county, which also offer Help to Buy.
The collections of homes include Scholars Grange in Swanmore and Froyle Park in Upper Froyle.
Media can contact Emma Cox or Fotini Efstathiou for more information, images and interviews with Linden Homes.
29 September 2015
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.