Dandara buoyant following interest rate cut

Leading residential developer Dandara is responding to the recent Bank of England 1.5% base rate cut by guaranteeing* first time buyers a 3% interest rate on their mortgage on properties at its landmark ‘Image’ development in Hemel Hempstead, Hertfordshire.

Michelle Harris, Sales and Marketing Director for Dandara comments: “Naturally we welcome the cut in interest rates as it will help restore liquidity and shore up the credit market. We anticipate that investors will begin to opt for property over deposit accounts for a greater potential return while owner occupiers will have restored confidence in the market. Although it does not immediately assist first time buyers, we see it as a long term strategy for low interest rates.”

“In the meantime we are preparing a new deal to guarantee first time buyers at Image a 3% interest rate on their mortgage. We are also considering a deposit saving scheme where buyers can purchase a property with a £1,000 reservation fee and for every month thereafter we will match the money they save towards a deposit.*”

When complete in 2010, Image will provide 352 private properties and 82 affordable homes, along with retail and office space on a prominent site formerly occupied by the European headquarters of Kodak. In addition to six brand new buildings, the current 18-storey Kodak tower will be dramatically transformed into the stunning 21-storey KD Tower.

At the heart of this development will be a new public landscaped square, lined with shops and cafes and a new pedestrian footbridge that will link Image with the town centre. Although the station is only about 10 minutes’ walk from Image, a shuttle bus service will run between the development and the station at peak commuting hours.

With a choice of one and two-bedroom apartments, many with balconies or terraces and breathtaking views, Image brings the very best of ‘urban living’ to Hemel Hempstead. Beautifully-designed, high-specification living spaces feature stunning contemporary kitchens and stylish bathrooms. Residents will also benefit from the car club and concierge service as well as transport to the station at peak times, offering a superb new lifestyle.

Hemel Hempstead is a town of rich contrasts; the listed buildings, specialist shops and historic pubs of the old town sit alongside the new town’s restaurants, bars and shops. The Marlowes Shopping Centre has more than 80 shops and cafes whilst the recently finished Riverside open air shopping centre, just over the footbridge from Image, is home to Debenhams and a variety of retail outlets including music and fashion stores.

Prices at Image start from around £180,000.

For further information on Image, log on to Livetheimage.com.

* Terms and conditions apply