Housebuilder entices buyers back to the market

Galliford Try Homes is fighting back against suggestions that the mortgage market has closed as a result of recent financial turbulence, by launching a range of new initiatives to encourage tentative buyers to purchase a new home.

Partnering with New Homes Mortgage Helpline (NHMH), the housebuilder is raising awareness of the thousands of mortgage deals and developer incentives still available to prospective home buyers.

Among these is an offer aimed directly at helping first time buyers. The Easy Start programme allows buyers to purchase homes for 75% of their market value, with Galliford Try Homes deferring the remaining 25%, to a maximum value of £75,000 for up to ten years. The scheme is interest free with no rent payable throughout this ten year period.

In addition, Galliford Try Homes has become the first housebuilder to launch a mortgage protection scheme, offering cover of up to £1,000 per month for a year, for those buyers who are unable to meet their mortgage repayments due to redundancy.

Ian Baker, Managing Director for Galliford Try Homes, said:

"Despite the growing negativity in the financial markets there are still a vast number of mortgage products available, and if home buyers seek out the right advice it is possible to secure a competitive deal.

"Many first time buyers are currently being scared away from purchasing unnecessarily. Easy Start offers people the chance to move out of the increasingly expensive rental market and get on the property ladder, with minimal upfront costs and an affordable mortgage that is secured for ten years. It allows struggling buyers to own 100% of their new home whilst only paying three quarters of its value upfront."

Adam Champion at New Homes Mortgage Helpline comments:

"Much of the doom and gloom we are currently witnessing in the market is unjustified. There are still plenty of excellent mortgage products available, with a full range of options and competitive rates still achievable.

"The message to those on the edge of the market is why rent when you can buy? The more people opt out of buying, the more rental costs will soar. We are already seeing people taking on huge rental bills, which is unnecessary given the funds still available to borrowers in the mortgage market.

“With developers doing all they can to ease the financial burden of purchasing a new home, there are some excellent opportunities to buy and good deals to be had, as long as buyers are sensible about what repayments they can afford to make on a monthly basis."

For more information on mortgage offers available through Galliford Try Homes and New Homes Mortgage Helpline visit Gallifordtryhomes.co.uk.