A new scheme from five star housebuilder Lovell could help anyone looking to make their way into homeownership save for a deposit in half the time.
Match and Move is the latest initiative launched by the company which allows its customers to effectively double their deposit and get on the property ladder sooner rather than later.
Lovell will match the deposit to a value up to ten per cent of the purchase price. This means that buyers will have a much larger deposit to offer lenders, up to 20 per cent, enabling them to secure a more competitive mortgage deal and make the monthly repayments more manageable.
The deposit match is given as an interest free loan and can be paid back over ten years or when the property sells, whichever comes first.
Colette Armstrong, Lovell sales manager said: “More and more buyers are realising that they need to knuckle down and save if they want to get on the property ladder, however just how long they have to save up for to reach their goal is a cause for concern.
“That’s where this scheme could make all the difference. It’s been designed for anyone who’s tried their hardest to put some cash away but who is finding the wait frustrating, especially if they’re more than ready to fly the nest or escape the rental trap.
“It means that they can get a good deal on a mortgage and most importantly secure a new home now, and then take their time to save for the rest.”
Better still, Match and Move isn’t just for first-time buyers; it can also be used by anyone who has just sold their existing home.
The Match and Move scheme is being offered at Lovell’s The Green development, in Danesmoor, where just one property remains for sale – the three-bedroom Brosley at plot 25.
The Brosley is priced at £134,995 and is being offered for sale with carpets at no extra cost.
It comprises three bedrooms, en-suite to the master and a family bathroom, plus kitchen/diner, separate living room, downstairs cloakroom and integral garage.
For more information about the final home for sale at The Green, which is located on Penncroft Lane, contact Lyn Korczak on 0116 2367762, Thursday to Monday from 10am until 5pm.