Manor Kingdom provides a boost to a cautious market

Even for those already comfortably on the property ladder, or where buyers of luxury, family and executive homes may have little trouble securing a mortgage, there's evidence that potential new home-buyers are still holding back; uncertain as to which way the short-term market might turn.

But luxury housebuilder, Manor Kingdom, has devised a way to tackle uncertainty head on. For a short while only, the award-winning developer is offering beautiful properties on selected plots through a very special deal which allows purchasers obtain 100% of their dream home for just 75% of the price.

Estelle Dougan, sales manager for Manor Kingdom said, "Even for those for whom securing a mortgage is not a primary concern, uncertainty played out in the media is keeping prospective buyers at home. We appreciate that a Manor Kingdom home is a substantial investment but we believe this scheme can offer buyers complete peace of mind.

"We would love to welcome people to our range of very special showhomes and to discuss their options. This is actually a very good time to buy a dream home where obtaining a first mortgage is not an over-riding concern.

"Through the MK Shared Equity scheme, new home buyers will own 100% of their dream home but pay only 75% of the purchase price as we are offering an interest free loan for up to 10 years to cover the difference. This means that on a gross selling price of £750,000 the client will pay just £562,500 with 25% of the market value payable on selling or within 10 years."

To reassure customers, Manor Kingdom also points out that, although the market is difficult to predict at the moment and price corrections do happen, any historic correction in the housing market has been relatively short-term. "

The UK House Price Index from Halifax (2008) shows that UK domestic house prices have slipped by 3.8%, year on year from May 2007. However this has to be viewed against a context of a 79% increase over the five years to August 2007, with the average UK price rising by more than £88,000 between August 2002 and August 2007. The Index also indicates that property has increased in price by an average of 306% over the last 20 years.

Estelle Dougan added, "We believe this is a deal which genuinely blows insecurity out of the house-buying process. For extra peace of mind, if the property should sell within a ten year period for less than the buyer paid, Manor Kingdom will take back only 25% of the sale value and not the full amount of the original loan.

New buyers will own 100 per cent of their property but only pay 75 per cent of the price. On selling the property or after 10 years, whichever comes first, 25% of the market value is payable to Manor Kingdom.

For more information, visit Manorkingdom.com.