Limited Deposits
New home buyers are being offered an exclusive opportunity to secure a 90 or 85 per cent mortgage as leading housebuilder Linden Homes teams up with Newbury Building Society.
The national Housebuilder of the Year has been able to expand the options under its limited mortgage deposit scheme, Step Up, with the addition of two new products to assist customers who have a 10 or 15 per cent deposit.
Open to first and experienced buyers, the scheme features a choice of fixed rate or variable rate mortgages on selected homes.
In partnership with Newbury Building Society it will benefit customers across the central southern region of England: spanning the south coast from Weymouth to Brighton and north ranging from Gloucester to Milton Keynes buying both houses and apartments. The exclusive deal includes the stylish apartments at the Mosaic development and the peaceful and secluded King Harry Park in St Albans.
Linden Homes Group managing director Ian Baker said: “We understand the obstacles families face financing their new homes, and we see it very much as part of our business to help buyers.
“With traditional lenders demanding higher deposits, we became the first housebuilder to offer our own 95 per cent mortgage product earlier this year to responsibly help people with move onto or up the housing ladder.
“This latest agreement between us and Newbury Building Society has improved even further the range of options that can make the difference between securing a property and missing out.
Adam Champion, new build sales director for The New Homes Group, explains the rates offered by this exclusive product represent significant monthly savings for buyers. He said:
“With the lower rates being offered and the savings on your monthly outgoings, it really is a great time to buy. On average buyers using these products will be around £200 a month better off.”
Roger Knight, lending manager at Newbury Building Society said, “We are committed to helping local people buy their homes and this new relationship with Linden Homes, a local home builder, enables us to help even more buyers.”
Linden Homes is committed to working with lenders across the country to find additional finance options for its buyers, as well as working with the government to offer its NewBuy 95 per cent scheme.
Linden Homes first launched ‘Step Up’ at the end of last year to offer a rate of 4.99 per cent, fixed until April 2015, on a 95 per cent loan to value mortgage on houses at its developments nationwide.
As well as Step Up, Linden Homes also offers a range of other financial enablers such as Deposit Assist – 15 per cent of the purchase price as an unsecured loan to help buyers bring a bigger deposit to the table when applying for a mortgage.
It offers Family Assist to enable parents to take out an unsecured low rate deposit loan to put down as part of a child’s deposit.
-ENDS-
For further information, contact Claire McCowan or Emma Cox at Remarkable Public Relations on 01962 893 893.
