Taylor Wimpey launches Family and Friends Advantage Scheme

For many first time buyers, financial help from loved ones is a necessity in order to get onto the property ladder. Now, at Taylor Wimpey Southern Counties’ Alver Village development in Gosport, the house builder is rewarding this generosity with its Family and Friends Advantage Scheme.

The housebuilder has introduced an initiative which invites family and friends to help first time buyers with the cash deposit they need to buy a new home, and in return Taylor Wimpey will pay them a guaranteed return of 5% per annum for five years on the sum invested.

Sarah Pasco, regional sales director for Taylor Wimpey Southern Counties, explains: “We understand that parents or relatives still want to help their loved ones get onto the property ladder but, for many, simply acting as the bank of mum and dad is no longer an option. Family and Friends Advantage is a really straightforward scheme that provides a generous short-term return for those providing the deposit, as well as the possibility of both parties benefitting should house prices rise over the longer term.”

Family and Friends Advantage is available on deposits of up to 20% of the purchase price. A £30,000 deposit on a £150,000 property, for example, would see a guaranteed return of £1,500 every year for five years. Contributions towards the deposit can be made by more than one person and the rebate is paid directly into one nominated bank account on an annual basis.

Alver Village, part of the huge Rowner Renewal regeneration project, is a new residential development consisting of one and two bedroom apartments and two, three and four bedroom homes being built by Taylor Wimpey in Gosport.

Currently available are one and two bedroom apartments from £90,000 and a range of three and four bedroom houses with prices starting from just £182,000.

For further information about Family and Friends Advantage or Alver Village, visit the development on New Howe Road, or log onto taylorwimpey.co.uk.

*subject to terms and conditions on selected plots