Design-led properties without the deposit burden

The Exchange Insurance Company (ExCo) announces that Bennett Property will be offering the Exchange Bond to buyers of new homes at its Southpoint development in Manchester.

The Exchange Bond – a financial guarantee that replaces the cash deposit – will be available to everyone looking to purchase an apartment at Bennett Property’s latest development.

The 40 apartments at the Southpoint development include a mix of one and two bedroom first, second storey and penthouse options. The properties offer modern living on the outskirts of desirable Didsbury and a stone’s throw away from the city centre. Open plan layouts combine with generous proportions, design-led interior decoration and sophisticated door entry and security systems, for a collection of apartments that are sure to catch the eye.

While falling in love with a property can be quick and easy, raising the cash needed at exchange can often prove far more difficult. The Exchange Bond offers the perfect solution to many problematic home purchases.

For property investors, whose main concern is that their money could be working for them elsewhere, the Exchange Bond is an attractive alternative to a cash deposit as it allows them to generate further interest from their funds between exchange and completion. In the case of the first time buyer, the Exchange Bond allows them the financial flexibility to delay paying out money until the house is ready.

Alan Hegarty, Director of Bennett Property, says: “When we were told about the Exchange Bond, we were immediately interested. The Exchange Bond offers benefits to us as a developer as well as to our buyers. We are really interested to see what impact it has on our sales at Southpoint and our buyers’ response to it.”

Frank Speight, Joint CEO and the executive director responsible for Sales & Marketing at ExCo, says: “We are delighted that forward-thinking developers such as Bennett Property are realising the power of the Exchange Bond as a buyer incentive. The product is fast-becoming the key to securing more sales in a competitive and challenging environment. We have no doubt that the Exchange Bond will prove equally popular with their buyers, adding extra value to the excellent service already offered by their sales team.”

For further information on the Exchange Bond, please visit exchangebond.com.