No deposit needed on final homes in Coventry

There's not a day that goes by without some negative press about the current state of the UK's economy. Several doom and gloom reports of the housing market comment that without a deposit, househunters are unable to secure a purchase, which is deterring many from even looking for their new home.

It should come as welcome news to would-be buyers in Coventry that Persimmon Homes South Midlands is offering homes with no deposit required at its most successful development of 2008 - Bannerbrook Park.

"At Persimmon we fully understand the heightened constraints involved with buying a brand new property, due to the difficulties in securing a mortgage," explains Alison Reading, sales director for Persimmon Homes South Midlands.

She continues: "It's frustrating to see that visitors to our developments are finding homes they've fallen in love with, but are unable to afford them due to being unable to raise a mortgage. It's for this reason that we are offering a select number of houses and apartments at our Bannerbrook Park development under our Helping Hand 70 or 75 per cent shared equity schemes, meaning that no deposit is required when making the purchase."

This initiative is being snapped up by several purchasers at Bannerbrook Park, as it provides a secure and stress free way of achieving property ownership.

Alison continues: "We've seen fantastic results at Bannerbrook Park, as since September we've sold 14 homes, which is approximately 20 per cent higher than local estate agents figures for the area."

Prices at the development start from just £77,697 for a two bedroom apartment and three bedroom homes start from as little as £131,247 under the scheme.

Alison concludes: "Due to the obvious benefits of Helping Hand from reduced mortgage payments to the ten years to pay back the remaining percentage interest free, househunters are now able to purchase the home of their dreams. I therefore don't expect our last remaining shared equity plots at Bannerbrook Park to remain on the price list for much longer."

The development 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 on the properties available at Bannerbrook Park, log on to Persimmonhomes.com.