An "innovative" new home-buying scheme for first-time buyers is on offer at a new development in Wallington, Surrey.
Builder George Wimpey is offering buyers the chance to take advantage of its Easy Start initiative, which enables purchasers to take out a mortgage on 75 per cent of the property's purchase price without having to pay a deposit.
The offer means prices of one, two and three-bedroom houses at the Wallington development will start at £119,996, for 75 per cent of the property's value, with George Wimpey providing an interest-free loan over ten years to allow buyers to pay off the remaining 25 per cent.
Regional sales and marketing director Tim Betts said that the offer was ideal for those looking for a "more affordable mortgage option".
"Through this scheme [buyers] can take out a mortgage on a much reduced amount, and pay off the interest-free loan in up to three instalments stretching over the next decade," he remarked.
Meanwhile, Barratt Homes is offering buyers in the West Midlands the chance to part exchange their current home in order to move into a new Telford property.
See Also: Property News (5946)
Date Published: 07 October 2008
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