Escape the Ripponden rent race

Persimmon is making it easier for anyone living in a rental property to buy a brand new home of their own. Typical rent on a two bedroom apartment in Ripponden, according to Persimmon, costs in the region of £437 per calendar month however, with the company’s newly launched ‘no deposit’ scheme, would-be-buyers could buy a brand new apartment at the Moorland Heights development yet pay significantly less in mortgage repayments*.

“Anyone who is frittering away money in a rental property thinking they can’t afford a new home of their own because they don’t have a deposit, or believe they can’t stretch to taking out a mortgage needs to talk to us as many people’s rent is equal to, or in some instances, actually more than repayments,” comments Lawrence McGeehan, sales director for Persimmon Homes West Yorkshire.

He continues: “Falling house prices, competitive, tailored deals including our ‘no deposit’ scheme to get house hunters on the move and an interest rate of just one per cent, the lowest in its 315-year history, means it’s a buyer’s market and proves that purchasing has never been so easy, or affordable.”

Anyone who hasn’t built up enough of a deposit for a new home, but desperately wants to move should pay a visit to Moorland Heights where Persimmon can solve the deposit problem for them. With ‘no deposit’, buyers pay 75 per cent of the value of the property and the remaining percentage, which acts as the deposit, is not payable for ten years or until the home is re-sold - whichever comes first. There is not even any interest or monthly charges to pay on the outstanding balance.

Ideal for those on lower incomes and for the growing number of people wanting to buy on their own, Persimmon’s ‘no deposit’ scheme is an ideal option for many buyers as it means they are able to purchase without having the cost of the whole mortgage, with no fees or monthly rental to pay on the remaining percentage. As the mortgage taken out is only for 75 per cent of the value of the property, there is saving on the mortgage interest rate that is paid.

Lawrence concludes: “Buyers who take advantage of our ‘no deposit’ scheme are in a win-win situation. The 25 per cent of the value of the property, which is deferred, acts as the deposit and because the loan to value ratio is decreased, this enables them to access much cheaper mortgage rates.”

Moorland Heights is situated near the Ryburn Valley. Located on Rochdale Road within the established community of Ripponden, the development enjoys a stunning elevated position and is conveniently placed for excellent local amenities including local shops, delicatessens, sports and leisure facilities with a wider selection found further afield in Halifax, Huddersfield, Leeds and Bradford.

Offering the best of both worlds, the development is in proximity for easy access to the commercial centres of West Yorkshire and Lancashire with the A672 and M62 within easy reach yet in contrast, some of the best countryside West Yorkshire has to offer is right on the doorstep, with the rolling hills of the Moors close by. With shared equity, two bedroom apartments are currently priced from only £79,999 with selected plots also available with fully fitted carpets throughout.

For further information on the range of properties available at Moorland Heights, log on to Persimmonhomes.com.

* With Persimmon’s ‘no deposit’ incentive.