A practical way to save a healthy deposit

As the credit crunch takes hold and mortgage lenders continue to demand larger deposits, Countryside Properties is offering buyers at its new developments across Greater Manchester a practical way to save for a new home.

The Deposit Build Up scheme gives buyers the chance to raise a 5% deposit in a structured payment plan over a 12 month period. The amount saved is then matched by Countryside Properties pound for pound, giving the buyer a healthy 10% deposit come completion.

Would-be buyers can reserve a new home at Countryside Properties' Merchants Gate and Copper Wells developments in Heywood, Spinning Vale in Gorton and New Broughton in Salford for a reduced fee of £500. It will then cost a further £500 to exchange contracts, but the buyer will then use the time it takes for their new home to be built to save their deposit through a series of fixed monthly payments.

Countryside Properties will also pay stamp duty where relevant, legal fees up to £1,000 and service charge for 6 months up to £1,000.

Martin Leggett, regional sales director at Countryside Properties: "With property prices being so reasonable at the moment, we're aware that what is actually hindering would-be buyers is the reluctance of banks to provide credit. Deposit Build Up has been created as a solution to this potential problem and also means that buyers won't miss out on the new home they want because they don't have the funds available to pay the deposit and required fees up front. With our Deposit Build Up scheme you can guarantee your home at a bargain off-plan rate but you will still have time to save up a healthy deposit with our help."

The scheme is available on a range of forthcoming Countryside Properties homes in Greater Manchester.

Merchants Gate will comprise a beautiful collection of three bedroom homes located on Rose Hill Street in Heywood perfect for first time buyers and young families looking to be close to a bustling town. Copper Wells on nearby Argyle Street has been designed for couples and families and will include a range of three and four bedroom homes. For more information visit merchants-gate.com or copperwells.com.

In Gorton, just 2 miles north of Manchester city centre, Spinning Vale will be a friendly community of three bedroom homes. More information can be found at spinningvale.com.

Countryside Properties is also now embarking upon the latest phase of New Broughton which will see a further 808 homes built over the next three years. A number of three bedroom homes have been released with prices starting from £164,950 and are available to purchase via the Deposit Build Up scheme. Visit newbroughtonliving.com.

For more information on Countryside Properties' Deposit Build Up scheme log on to Countryside-firstsaver.com.