Better to buy than rent at Park View, Longbridge
St. Modwen Homes, the developer behind the popular Park View development in Longbridge, is encouraging anybody renting a property in the area to consider the advantages of purchasing a home before signing their next lease agreement.
According to recent research by Halifax, owning a property is now £100 or more a month cheaper than renting, with a widening gap emerging.
Statistics from St. Modwen Homes reveal that a two bedroom house at Park View, priced at £149,500, could have monthly mortgage repayments of just £446.57* compared to a similar house in the area with a monthly rental figure of £650 – marking a saving of nearly £200 per month.
Neil Simpson, residential sales and marketing director at St. Modwen Homes says: “Many people are remaining in the rental market because they believe that it is their only option, however the prices of homes at Park View means that owning a property doesn’t have to be a distant dream. With rental costs rising significantly in recent years, it is becoming the norm for monthly mortgage repayments to be considerably less than monthly rental outgoings – meaning that your earnings will actually go much further if you own a property than if you remain in rental accommodation.
“By owning your own property you are investing in your future and we’ve had so many people view the homes at Park View and fall in love with them that we feel confident that there is something here for everyone.”
St. Modwen Homes has sold more than 50 per cent of properties at its recently launched Park View development in Longbridge; the first new homes to be built on the site of the former MG Rover Works.
Located off the tree-lined boulevard of Lickey Road, Park View is a collection of individually designed, luxury apartments and houses which benefit from their adjacent position to the 135 acre Cofton Park. Two fully-furnished show homes are now open to view seven days a week between 10am to 6pm, comprising a spectacular four-bedroom home and a spacious two-bedroom property, ideal for either a couple or two friends sharing, as it benefits from two double bedrooms.
Park View is the first housing development in the UK by St. Modwen Homes and it is being delivered in partnership with the Government’s Homes and Communities Agency (HCA).
For further information, visit parkview-longbridge.co.uk.
*All monthly mortgage repayments have been calculated on the basis of the purchaser obtaining an 80 per cent loan to value mortgage over a 35 year term.
