First time buyer homes from just £70,396 in Prescot
Taylor Wimpey is putting the dream of home ownership within the grasp of more first time buyers at its Speakman Gardens development in Prescot. A range of schemes is being offered which enables first time buyers to purchase a property from just £70,396 and helps those with low deposits.
Speakman Gardens offers exceptional value for money homes from just £87,995 for a two bedroom apartment and £153,950 for a three bedroom family home. But first time buyers taking advantage of the FirstBuy scheme could secure a new home from as little as £70,396, making mortgage payments as low as £286* per month.
FirstBuy works through a joint loan of 20% from the Homes and Communities Agency (HCA) and Taylor Wimpey, which means that eligible purchasers only need to pay a 5% deposit and obtain a 75% loan-to-value mortgage. The loan is repayable at the end of the mortgage term or when the property is sold. To be eligible, purchasers must be first time buyers and the total household earning should be less than £60,000.
This means that buyers would need a deposit of less than £4,400 to secure their first home. But if you’re struggling to save any kind of deposit, then help is at hand. Through Taylor Wimpey’s Friends and Family Advantage scheme friends or relatives that help with your deposit will earn a guaranteed 5% per annum return on their investment.
Lynne Vogel, regional sales manager for Taylor Wimpey North West, comments: “We appreciate the challenges that buyers face getting on or moving up the property ladder. For first time buyers, many of whom rent, saving the deposits now required by mortgage lenders can be a particular challenge.
“The schemes we are currently offering at Speakman Gardens help buyers to overcome those barriers. FirstBuy significantly reduces the price you pay now for your new home and the Friends and Family Advantage Scheme means friends and relatives can benefit from helping you with your deposit, so it’s a win-win situation.”
Speakman Gardens is located on Steley Way, just a short walk from a selection of high street shops. Liverpool is just eight miles away offering a wide range of shops, leisure activities and nightlife.
Visit taylorwimpey.co.uk for more information.
* Price of £70,396 represents 80% of the full purchase price of £87,995. Weekly payment of £65.93 is calculated from a monthly repayment figure of £285.68 based on a 2 year fixed rate of 3.79% with the appropriate APR provided; also based on a repayment basis over 35 years. Eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. For the first five years there is no fee charged on the equity loan component. At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be multiplied by RPI+1% p.a. The equity loan is provided by the HCA and Taylor Wimpey and held as a joint second charge. Terms and conditions apply and full details will be provided on request. This offer is only available on selected developments and properties in England. It is not offered with any other promotion. For full details please contact the appropriate sales information centre or visit the relevant website.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED ON IT.
Prices correct at time of going to press.
