Deposit bonus for buyers at Elisabeth Mill

Potential buyers of property at Elisabeth Mill, the new development from Millshomes in Reddish, Stockport can benefit from using a new financial product.

Designed to provide increased financial flexibility, the Exchange Bond replaces the cash deposit normally required when buying property off-plan.

As an alternative to the cash deposit, the Exchange Bond allows buyers an all important few months - or even years - to save for the full, or part of, the deposit between exchange and completion, while enabling them to commit to their dream home. The balance of the purchase price becomes payable at completion.

Sheetal Dharni, Marketing Manager of Millshomes, is among the first in the Greater Manchester property community to recognise the potential of the Exchange Bond for the company's clients.

Sheetal explains: "The Exchange Bond is an attractive and innovative product. It offers much-needed protection in this uncertain market and has enabled us to offer potential buyers at the Elisabeth Mill development their dream home without the burden of having to provide a substantial cash deposit."

Frank Speight, joint CEO of Exchange Insurance Company - the company which developed and underwrites the Exchange Bond - comments: "The Exchange Bond holds real benefits for anyone contemplating buying a new property - whether they intend to occupy the property themselves or buy it as an investment. It has been proven to be extremely effective both for property developers and for buyers looking for a safer purchase and we are delighted to be working with forward thinking developers such as Millshomes."

Prices for the Elisabeth Mill development, a Grade 11 listed building with a range of 138 apartments, start at £89,000. Situated next to Houldsworth Park and Houldsworth golf course, this investment opportunity lies 3 miles from central Stockport and 5 miles from Manchester city centre. Each apartment combines the original features of the building's heritage including high ceilings, exposed brickwork, cast iron pillars and large mill windows. For further information, please visit: millshomes.co.uk

For more information on the Exchange Bond please visit: exchangebond.com