Buy your dream home now and pay later

Redrow Homes is offering homebuyers in Horwich the opportunity to buy off-plan at Arcon Village without having to pay a deposit until their new home is ready to move into.

The housebuilder, which is transforming the former18th century bleach works into a collection of beautifully restored and renovated properties, recognises it is not always convenient for those buying a brand new home, especially off-plan, to shell out a five or 10% deposit long before the property is ready to move into.

Therefore Redrow is offering customers who are exchanging on a home at Arcon Village the opportunity to secure a property by guaranteeing the required deposit in a simple and cost-effective manner.

That solution comes in the shape of the Zurich Property Deposit Guarantee, which is available exclusively through the XBond Company, and is the latest in Redrow’s efforts to help make moving house as simple and stress-free as possible.

Instead of having to hand over a full five or 10% cash deposit, buyers simply pay a guarantee fee which is, typically, considerably cheaper than the cost of borrowing from the high street.

Lesley Myers, area sales manager for Redrow Homes (Lancashire) said: “The Arcon Village scheme is so popular that many buyers are exchanging on their new homes months before they will be ready to move into.

“There may be a number of reasons why they do not want to pay a sizable deposit up front, for example if they are downsizing and not ready to sell their existing home immediately or arrange an equity release. The Zurich PDG simplifies and speeds up the entire process so customers can concentrate on preparing to move into their fabulous new home at Arcon Village.”

The Zurich PDG is a secure promise made by Zurich Bank to a vendor on behalf of the purchaser. It guarantees the purchaser’s deposit on exchange of contracts, allowing the purchaser to retain their cash until completion. It is not a loan, but a solid, bank-written guarantee that the exchange deposit is owed to the vendor and will be paid should the purchaser default.

The buildings at Arcon Village are being painstakingly transformed by Redrow into a collection of around 140 one and two-bedroom apartments and two, three and four-bedroom town houses and mews-style cottages.

The redevelopment is well underway and Redrow is working with English Heritage, the University of Manchester’s Archaeological unit and the local authority, to sympathetically convert the buildings to homes steeped in character.

As part of the development, a clock tower and bell tower are also being sensitively restored to their previous splendour.

Lesley adds: “Arcon Village is ideal for those who want a slower pace of life and would suit downsizers looking for a semi rural retreat.

“The development is steeped in history and the homes have a real charm, while the surrounding area is breathtakingly beautiful.”

Located on the outskirts of Horwich, Arcon Village is tucked away at the end of a long sweeping driveway, in semi rural surroundings off Chorley Old Road.

It is surrounded by panoramic views of the West Pennine Moors, yet is only five miles from Bolton and close to the M61 motorway, making it the ideal homebase for those down sizing or retiring looking for a low maintenance lifestyle.

Two, three and four-bedroom homes are currently available at Arcon Village, with prices starting at £239,995 for a two-bedroom cottage.

For more information log onto Arconvillage.co.uk.

For details of the Zurich Property Deposit Guarantee go to Thexbond.com.