A lifeline for first time buyers in the West Midlands

Despite reports that more homebuyers are opting to buy jointly with partners or friends as house prices reach record highs1, first time buyers’ confidence in the property market is returning according to Wolverhampton-based Persimmon Homes West Midlands.

Anita Williams, sales and marketing director for Persimmon’s West Midlands region comments: “For the benefit of a productive ongoing market, it is vitally important that first time buyers are given the opportunity to take that first step onto the property ladder. Careful consideration should be given to the range of incentives available, when affordability is an issue.”

Indeed, since launching initiatives which crucially bridge the financial gap, Persimmon is currently experiencing renewed interest in its range of affordable properties currently being built in Wolverhampton, Newport, Pype Hayes, Rugeley, Shifnal, Smethwick, Tamworth, Telford, Darlaston and Warstock.

Anita continues: “Whilst we will always cater for those who buy property with friends or family members, we want to also encourage first time buyers to come forward and speak to us about buying alone. Far too often complicated jargon is used and confusing messages can defer the decision to buy. The house building Industry is addressing this, and more often we are seeing first time buyers being catered for in our marketing.”

For example Persimmon Homes is currently offering added support by paying the much needed 5 per cent deposit, paying for legal costs and stamp duty - the three major financial factors which can make the difference. For those who struggle to reach the threshold on affordability, the company also offers a shared equity option, where 20 per cent of the price can be deferred for up to ten years.

Anita added: “We don’t want our purchasers to have to sacrifice their leisure and social life in order to own their first home, which is why alongside truly affordable prices we’re offering a range of tailor-made deals on homes at a number of developments across the region to ensure they can choose a home which they can afford and most importantly enjoy to the full.”

Renting or living with parents means there is no existing home to sell and this is a distinct advantage for first time home buyers, particularly when competing with another purchaser for a property. Anyone who is ready to move without the constraints of a chain is hugely appealing and their purchase tends to run far more smoothly as a result.

Anita concludes: “Through understanding that all house hunters have very different needs, we are able to help them find, buy and move into their dream home, with minimum hassle and expense.

“Any buyer who is looking for guidance and advice regarding the property market and home moving process should pay a visit to any one of our developments across the region where our sales advisers are on hand to share their knowledge and expertise, and most importantly respect that First Time purchasers need extra help.”

For further information about Persimmon’s range of apartments available across the West Midlands region, visit Persimmonhomes.com.