Deposit match makes mortgages easier

Buyers at George Wimpey Manchester’s Manor Court development in Prescot could boost their deposits and secure better mortgage deals through an innovative new scheme from George Wimpey.

On selected properties, the housebuilder will match the buyers deposit, up to 10% of the property’s value as an interest free loan, giving them access to better interest rates and lower monthly mortgage payments.

Deposit Match is extremely simple – buyers are given the Deposit Match amount in the form on an interest-free loan over 10 years. They own 100% of their property and there is no rent or interest to pay during the loan period. Buyers can repay the loan when they sell or have the option to make up to three smaller one-off payments. If the loan is not repaid within the ten year period, then interest is charged at 2% above the Bank of England rate.

The scheme can be tailored to individual circumstances. First time buyers, for example, could receive their required 5% deposit, or increase the amount they already have saved. Existing homeowners could see their 10% deposit doubled which means only having to borrow 80% of the property’s value. This could open the door to lower interest rates competitive interest rates and more affordable monthly payments. Stamp duty and legal fees are also covered by George Wimpey.

Deposit Match is managed by George Wimpey’s appointed independent financial advisors and solicitors, making the whole process extremely straightforward.

“This scheme tackles the current credit crunch head-on,” says Chloe Dunn, field sales manager for George Wimpey Manchester. “By offering a cost-effective way of increasing the purchaser’s deposit, we are providing them with more bargaining power to secure competitive mortgage rates and lower monthly repayments. This could make all the difference in their ability to get on or move up the property ladder and we’d urge those looking to move to speak to our sales executives as soon as possible to find out how the scheme could help them.”

Manor Court is the ideal family development, with a beautifully crafted selection of three bedroom townhouse, mews and detached properties.

Prices at the development start from just £145,995.

Among the properties available for visitors to see at Manor Court are the recently launched Derwent and Medway show homes.

The Derwent townhouse includes three bedrooms, one with en suite, living room/dining room, private garden and allocated car parking pace. The four bedroom detached Medway home comes complete with separate living room and dining areas, integral garage and private garden.

Positioned in the suburbs of Liverpool, Manor Court is just a short drive away from the M56, M62 and M58, which offer links across the north west to Manchester, Liverpool and Chester.

For further details about Deposit Match, including full terms and conditions, log on to Georgewimpey.co.uk/match.