“Why rent when you can buy?” says Persimmon Homes

Persimmon Homes South Midlands knows the importance of being able to own your own home, which is why the company is promoting its Helping Hand shared equity scheme at the Bannerbrook Park development in Tile Hill, Coventry to particularly help buyers in the area.

"There is currently just one family three bedroom house and a limited selection of two bedroom apartments one the price list at our popular Banerbrook Park development," comments Alison Reading, sales director for Persimmon Homes South Midlands. "Due to the excellent location of the development coupled with the high quality and specification of our homes being built, I don't expect these housetypes to remain on the price list much longer, especially as we're offering shared equity on a number of the remaining plots."

To help buyers secure their dream home at Bannerbrook Park, Persimmon has made its Helping Hand shared equity scheme available. One the last remaining Lancaster housetype, purchasers are only required to pay for 75 per cent of the property with Persimmon making up the remaining 25 per cent, enabling buyers to own 100 per cent of their property.

On the two apartments which are ready for immediate occupation, Persimmon is generously offering a 70 per cent shared equity scheme, with the housebuilder making up the final 30 per cent of the purchase price.

Alison continues: "Take for example our two bedroom apartments, which are currently on the price list from £109,995, with our shared equity scheme, purchasers would pay just £76,997."

Buyers then have up to ten years interest free to pay back the remaining 25 or 30 per cent of the property price (depending on whether they bought a house or apartment) until they sell or transfer it, making it an extremely attractive and affordable way to home ownership.

Alison concludes: "We've also researched into mortgage payments and rental returns in the area with findings highlighting that a mortgage on one of our properties stands at approximately £80 less than renting the same property, demonstrating that it's cheaper to buy with us than rent - it's a win-win situation."

Bannerbrook Park boasts areas of public space and a tree lined avenue, situated within easy reach of local shopping and community amenities in addition to offering residents excellent commuter links.

For further information log on to Persimmonhomes.com.