New scheme helps Bolton buyers find dream home

A scheme designed to help reduce mortgage payments for new home owners has proved a huge success at housebuilder George Wimpey’s Millgate development of new homes in Bolton.

Since the company announced it was introducing Deposit Match at Millgate, enquiries from potential buyers at the development have rocketed. Now George Wimpey is advising people interested in the scheme to act quickly as there is limited availability at the development.

There are only six new properties left at Millgate where Deposit Match is available.

Under the scheme, George Wimpey will match a buyer’s deposit, up to ten per cent of the property’s value, as a ten year interest free loan, potentially giving access to better interest rates and lower monthly mortgage payments.

Buyers own 100 per cent of the property and there is no rent or interest to pay during the loan period. The loan can be repaid when the property is sold or buyers also have the option of making three smaller one-off payments.

Only if the loan is not repaid within the ten year period is interest charged, at two per cent above the Bank of England base rate.

Sales and marketing director Anthony Mansfield said: “Deposit Match tackles the credit crunch head on. By offering a cost-effective way of increasing their deposit, we are providing potential home owners with bargaining power that can mean a wider range of available mortgages, more competitive mortgage interest rates and lower monthly repayments.”

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

At Millgate, the scheme is available across two different housetypes – The Cheshire and The Cranage.

The Cheshire is a superb three storey townhouse with spacious rooms and allocated parking. Features include three bedrooms, one with en suite, living/dining room, kitchen/breakfast area, family bathroom, cloakroom and private garden. Prices start at £129,995.

The Cranage housetype is a luxurious four bedroom three storey home with en suite to master bedroom, private garden and allocated parking space. It is priced from just £147,995.

Millgate is located just outside Bolton town centre within easy reach of the town’s wide selection of High Street stores, shops, cafes, bars and restaurants.

Further information about the homes available at Millgate visit georgewimpey.co.uk.