It’s a good question. Buying your own home really can save you a lot of money.
At Linden Homes’ Boslowen development in Camborne and Home @ Heartlands development in Redruth there are a range of one and two bedroom apartments and three bedroom houses where it can work out cheaper to buy than rent.
Brian Deacon, sales and marketing director for Linden Homes said: “For tenants, paying monthly rent to their landlords isn’t just money down the drain, it can actually be more expensive than buying!
“By buying a brand new Linden home your energy bills are likely to be reduced as a result of the energy efficiency features and you won’t get any nasty surprises associated with buying a second hand property, like the need for a new roof or boiler. Owning your home is very special, you can decorate it as you wish, make any changes and it’s a savvy investment for the future.
“There are a number of initiatives available to help with that much needed deposit but it’s the monthly savings that are really impressive.”
At Boslowen, a contemporary two bedroom first floor apartment would cost between £625-£650 to rent each month. However, using the government’s Help to Buy scheme to purchase a similar £119,950 home would save over £250 per month!
Adam Champion, an independent expert from New Homes Mortgage Helpline, explained: “Using Help to Buy, the apartment for £119,950 would require £6,000 as the 5% deposit. There would be a 20% Help to Buy government equity loan and then you would only require a mortgage of £89,960 which equates to just £376.50 per month, based on Nationwide’s 1.89% two year fixed mortgage over a 25 year term.”
Brian added: “Joining the housing ladder is not just a good investment in the long term but it pays to move in the short term too. We’re very passionate about helping people to achieve that important milestone – we can help you move, just come and visit us.”
Linden Homes is building homes locally in Penryn, Truro, Camborne and Redruth. For more details contact Carole or Jenna on 01209 281673.
-ENDS-
For further information, contact Emma Mackay on 01626 356666 or email emma.mackay@lindenhomes.co.uk
