Housebuilders tackle the credit crunch

Much has been written about the housing market over the past few months, much of it bad news. But the negative headlines, which seem to commandeer the media, don’t tell the whole story.

Negative headlines in the national press generally state the worst-case situations, which we all know don’t apply to every area of the UK. The housing market is too regional for that. According to the latest Land Registry House Price Index, house prices in Lancashire and Greater Manchester have risen by 1 per cent and 1.3 per cent respectively in the past 12 months.

Property marketing consultant Iain Davidson says: “It is true that the number of mortgage products now available has vastly reduced because of the credit crunch. The housing market is having a tough time and this will remain so until financial institutions address the state of the mortgage funding markets.

“However, fundamentals underpinning the market remain sound with long-term demand for housing, low interest rates, and low unemployment. And housebuilders, still striving to meet government housing targets, are doing their best to come up with new initiatives to help people move to a new home."

Blackburn based housebuilder Beck Homes has introduced a package of five different schemes all designed to help potential homebuyers move to a new home whatever their personal circumstances. Called the ‘beckXperience’, the package comprises:

beckXpress
Beck Homes will arrange to sell your existing home using their facilities and agreed Estate Agency to find a buyer for your home – and they even pay the estate agents fees.

beckXchange
This is Beck Homes’ part exchange scheme where you buy theirs and they buy yours.

beckQuity
Beck Homes gives the opportunity to own 100 per cent of a new home, but you pay only 75 per cent at the time of purchase. Beck Homes will lend the buyer the balance of 25 per cent over 10 years with no interest to pay, and no deposit to find.

beckXelerate
An extension of the beckXchange scheme. If you are stuck in a chain, Beck Homes would consider buying a property further down the chain, where your property is under offer to someone who can’t sell their own home. As long as Beck Homes buys in a property that is 65 per cent or less, of the value of the new home being purchased, Beck Homes will complete the chain allowing everyone in that chain to move.

beckXclusive
Get a tailor made package to suit your individual family circumstances. Whether you need help with a deposit or legal fees or stamp duty or just a cash back the Beck Homes sales advisers can put together an exclusive plan.

Full details and, terms and conditions of all Beck Homes’ assistance packages are available from the on-site sales advisers.