Local Homebuyers Set to Benefit from 'Game Changing' 95% Mortgages
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwire) -- 01/24/12 -- As a creditworthy homebuyer in 2012 you could be offered the best chance since the start of the credit crunch to get your foot on the property ladder, without the need for a hefty deposit. For those focussing their property search on or the surrounding counties, this could make your homeowner ambitions a reality.
Since the inception of the coalition Government's National Housing Strategy - put in place by David Cameron and Nick Clegg - the return of 95% mortgages for new home buyers has become a reality, set to really boost both local housing markets and economies.
Specifically designed for the purchase of new build homes, priced at very competitive rates, the application process for the 95% mortgages couldn't be simpler. Available through all leading lenders, the process is no more complicated than getting a standard mortgage.
"The key thing about the return of 95 per cent mortgages on new build homes is that people will no longer need huge deposits of up to 20 per cent of the price of the property" said Group Director of Sales and Marketing at Barratt Homes, Jeremy Hipkiss.
Hipkiss stressed the difficulty experienced by first-time buyers unable to take advantage of falling house prices, due to the hefty deposits lenders have been demanding since the credit crunch first began.
He went on to highlight the value of the new scheme, when he said: "Now the banks have agreed to start lending again on new build homes at 95 per cent loan to value, so homebuyers will only need a deposit of five per cent. In practice that means that you could buy a home with a deposit of just GBP 7,500 for a property at the value of GBP 150,000."
For Hipkiss, this is a game changing moment for creditworthy buyers left frustrated at not owning a home of their own. The scheme doesn't just help first-time buyers but also those who don't have much equity in their current home, but need to take the next step on the housing ladder.
Named as the Housebuilder Awards', Housebuilder of the Year 2011, are ideally placed to measure the potential of the introduction of the 95% mortgages. They expect the impact of the initiative to enable more local buyers to enter into the market for new homes rather than simply looking towards second hand properties.
For more information on the Ward Homes developments across Kent and the bordering counties, visit today.
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Datum: 24.01.2012 - 09:46 Uhr
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News-ID 1075965
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