2013 is the perfect time to secure a new home with Taylor Wimpey
Recent research has found that mortgages are more affordable and more readily available now than at any point in the last decade – making conditions ideal for East Midlands homebuyers to purchase a brand new property, according to leading housebuilder Taylor Wimpey.
Major lenders have now started to repair their balance sheets and this is now flowing through to new homebuyers with banks increasing lending levels.
This has helped Taylor Wimpey to enjoy a positive start to the year, with a real increase in the number of visitors to its developments in Leicestershire, Nottinghamshire, Derbyshire, Northamptonshire, Lincolnshire and Cambridgeshire.
Increasingly, customers are realising that now really is the time to take advantage of this growing confidence in the money markets which is helping to create more positive conditions for prospective purchasers.
According to high street lender the Halifax, in the last five years, mortgage repayments as a proportion of income have fallen to just 26% in the East Midlands – down from a high of 44% in 2007 and comfortably below the 34% long-term average.
At the same time, mortgage availability has soared and is expected to continue rising throughout 2013 as the Government’s multi-billion pound Funding for Lending, initiative takes even greater effect with even more affordable loans continuing to become available.
Dominic Harman, Managing Director for Taylor Wimpey East Midlands, says: “Prospective new home purchasers in the East Midlands are picking up on the growing sense that conditions in the local new homes property market are in their favour more now than they have been for years.
“The recent budget announcement of the Government Help to Buy is also exclusively available for new homes and, as one of the UK’s leading homebuilders, Taylor Wimpey is offering this affordable way to purchase a brand new home at all of its developments. This gives us even greater confidence as we build more homes and we are providing even more choice and better flexibility for our customers.
“The cost of monthly mortgage repayments has plummeted across the East Midlands, which is great news for prospective purchasers who are also finding that there is a much wider range of competitive home loans available to them.
“As more and more property-seekers recognise that now is the perfect time to buy, anyone hoping to secure their dream home at a Taylor Wimpey East Midlands development should contact us while these initiatives are still in place!”
To make purchasing a brand new Taylor Wimpey home in the East Midlands even more affordable, Taylor Wimpey offers a range of helpful homebuyer incentives, including the Government’s new Help to Buy shared equity scheme.
This helpful money-saving incentive enables eligible first-time buyers and existing homeowners to secure any new-build property priced up to £600,000 for 80% of its full price, including a 5% deposit. There is no salary cap for customers taking advantage of the scheme.
Alternatively, the NewBuy scheme offers credit-worthy purchasers the opportunity to purchase their ideal home with a 95% mortgage and a 5% deposit.
Further information on all Taylor Wimpey East Midlands developments is available by visiting taylorwimpey.co.uk/eastmids.
