Fall in mortgage payments is a boost for househunters in Muxton

A local housebuilder is urging buyers to take advantage of the lowest mortgage payments in 14 years and snap up a new build property at its stylish Muxton development.

The average percentage of disposable income used for mortgage repayments by new borrowers dropped to 27 per cent at the end of last year, a 10 per cent decrease on figures from the last three decades.

Morris is advising househunters to take advantage of these lower payments by purchasing a property using its Part Exchange scheme, which is available at its Regent’s Crescent development.

Cindy Vials, regional sales director for Morris, said: “As mortgage payments fall and rents continue to rise, buying a new build home is a cost effective move for first time buyers. Properties at Regent’s Crescent can lead to further savings because they don’t require the same renovations as second hand homes.”

Under Morris’ Part Exchange scheme the developer will purchase a buyer’s current property for 100 per cent of its market value, removing the hassle of selling it and shortening the moving process.

Cindy added: “Our Part Exchange scheme really speeds up the moving process for the buyer, and removes the worries associated with being stuck in a long chain.

“Morris pays the estate agency fees for buyers. The benefits of the Part Exchange scheme and the incentive of lower mortgage rates means now is a great time to purchase a property at Regent’s Crescent, which is located on the edge of the historic Granville Country Park.”

Morris has a selection of homes available at Regent’s Crescent using the part Exchange scheme, starting at £204,750.

For more information on the schemes and properties available at Regent’s Crescent visit morrishomes.co.uk.