If you’re fed up of renting and looking for a home of your own, why not visit one of Taylor Wimpey’s developments where you can buy a home for just 85% of the purchase price through the company’s Shared Equity scheme that’s available on selected plots for a limited period only.
The initiative, which is currently available on selected plots at Masterton Lea in Dunfermline; Burnside in Kinglassie; Preston Gate in Prestonpans; Kingsacre or Stirling Bridge in Stirling; Hopefield Meadow in Bonnyrigg; Wester Meadow in Dalkeith and Arniston Vale in Gorebridge, offers buyers the chance to secure their new dream home for only 85%* of the purchase price.
Homeowners have the reassurance that they own 100% of their property from day one but as they’ll already have paid a 5% deposit, they only need to find a mortgage on 80% of the value. The other 15% is provided rent and interest free by Taylor Wimpey for up to ten years, at which point purchasers repay 15% of their home’s current market value. The scheme is flexible, allowing purchasers to repay the outstanding amount early or even make smaller one-off payments up to three times during the ten year period.
Karen Armstrong, regional sales and marketing director, comments: “We recognise that buying a home can be a financially daunting prospect for many and we want to ensure that first time buyers know all the facts before they make a decision. We have already helped hundreds to get on to the property ladder, and the availability of this scheme at eight of our developments across the east of Scotland offers an excellent range of properties to get buyers on the move.
“There’s no need to continue paying someone else’s mortgage or living with your parents when you could snap up a brand new home of your own for less using our Shared Equity scheme. This fantastic initiative offers a genuine step up for those wanting to get onto the property ladder and is ideal for anyone struggling to save a large deposit. Why not come and see us to find out more?”
See Also: Property News (6699), Taylor Wimpey (1857), Shared Equity (8)
Date Published: 05 February 2010
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