Dreams come true for buyers in East Midlands

With house prices still on the increase across the East Midlands, and the average regional price now standing at £163,409, it’s not surprising that buyers seeking a home in the region are struggling to secure their dream property.

And with purse strings tightening further this season due to the credit crunch, the rising cost of living is leaving many househunters disappointed. However, Persimmon Homes East Midlands has found the perfect solution for househunters.

Persimmon’s shared equity scheme is available on selected properties and allows purchasers to own a home having initially paid for just 75 per cent of the value of the property. They have up to ten years to pay back the remaining 25 per cent of the current property price.

Steve Matthews, sales director for Persimmon Homes East Midlands, comments: “We constantly strive to offer the best prices on all of our homes and understand that, especially in current market conditions, many buyers struggle to obtain a mortgage.

“While new homes in many places in the Midlands still represent good value for money, as an industry we have to accept that many buyers are finding it difficult in the current climate.”

For those with lower savings and for the growing number of people wanting to buy on their own, shared ownership is a perfect option as it means you can buy a home without the cost of a huge mortgage.

Steve concludes: “Take for example our homes at Scholars Mews in Newark. We’re offering one bedroom apartments from as little as £89,995 and through shared equity, buyers would only pay £67,496, therefore greatly reducing the monthly mortgage payments. Our shared equity scheme makes buying the most cost effective and preferable option, it’s a ‘win-win’ situation for all.”

Shared equity is available across many of Persimmon Homes East Midlands 20 current new housing developments. If you are interested in buying with Persimmon, check out the company’s website at Persimmonhomes.com.