Interest rate cut brings new homes within reach

People looking for a new home in the New Year will find it easier to make the finances work following the Bank of England’s decision to cut interest rates to 5.5%, says George Wimpey. In addition to savings of an estimated £15 to £20 a month on a £100,000 mortgage that the new interest rate will bring, George Wimpey is set to launch a range of additional financial incentives in January.

The schemes will bring customers’ ideal homes within reach and help boost the New Year homes market.

One such scheme on offer is a half price mortgage incentive, where George Wimpey will pay half of a customers’ mortgage for the first two years of ownership. Coupled with the positive news on interest rates, this means that customers will have more free cash to enjoy and style their new home.

Investors will also welcome the news on interest rates and can benefit from George Wimpey’s rental guarantee promise, which guarantees rental income for one year, reassuring everyone from seasoned investors to first timers.

George Wimpey East Midlands Sales and Marketing Director, Lynne Hartshorn, comments: “We’re committed to making the house buying process as simple and hassle free as possible for our customers, whether investors or people looking for a new home. The incentives we’re offering are aimed at making sure that all our customers can be clear on their finances and benefit from reduced costs.”

Other new year schemes include a £99 and move in package, where George Wimpey will pay customers’ 5% deposit, stamp duty and fees; and an Easy Mover scheme, which means George Wimpey will allow purchasers to reserve a house and help to sell their existing property for them.

Terms and conditions apply on all incentives.

Incentives are available in the following areas:

CAMBRIDGESHIRE
Langton Mews, Wittering

DERBYSHIRE
Q, Chester Green
Squire’s Court, Ilkeston
The Park, Somercotes

LEICESTERSHIRE
Fox Hollies, Wymeswold, Loughborough
King’s Court, Ashby De La Zouch
The Oval, Groby
Weaver’s Lodge, Syston

LINCOLNSHIRE
Spring Grove, Grantham

NORTHAMPTONSHIRE
Appleton Gate, Corby
Mawsley Village, nr Kettering
Poppyfields, Great Oakley
Turners 2, Northampton

NOTTINGHAMSHIRE
Brackens Court, Bestwood Village
Potter’s Hollow, Bulwell
The Avenue, Kirkby in Ashfield

Alternatively, information on all George Wimpey developments across the East Midlands is available by visiting the web site at Georgewimpey.co.uk.