Army couple sign up for a new home

The difficulty in lending and obtaining credit for house purchasers has been well documented in recent months. However, it needn't be that way for purchasers in the West Midlands, as Persimmon Homes is offering their Helping Hand shared equity scheme as a solution.

One couple to take up the offer is Sophia Salmon and David Devine. Both Sophia and David are in the Army and are currently living apart. Sophia works in Surrey as a nurse in the Queen Alexander's Royal Army Nursing Corps and David is in Gwent, working in The Rifles. However, with Sophia soon to start a top up Nurse's course in Birmingham, she was in need of a new home.

Sophia comments: "Due to our jobs, myself and David have been living apart, but as I am moving to the Midlands for at least three years, it was the perfect opportunity to purchase a home and with its close proximity to Wales, it means David can come home at weekends."

Sophia and David used Blue Forces, an estate agent for soldiers to find them their property. Sophia says: "When they came back with their results, I knew the home at Dean's Park was perfect for us. I am from Birmingham originally and have come across Persimmon developments before, so knew the home would be of high quality.

"The location in Wolverhampton is also only a few miles from where I will study and it has easy access to the motorway network, which is ideal for David."

The couple chose the Mayfield home. A three bedroom semi-detached property, it offered them all the space they needed, providing plenty of room for Krystina, four, Sophia's daughter who will live at the home and David's children, who will come and visit.

Sophia and David decided to take up Persimmon's Helping Hand shared equity scheme, which means that they own 100 percent of the property, but only had to pay 90 per cent of the value. The remaining ten per cent can now be deferred for up to ten years.

Sophia comments on why the scheme works for them: "With the state of the current lending market, we were unsure if we would be able to borrow the full amount we needed. The shared equity scheme really offered us a solution to that concern, as we only have to pay for 90 per cent, meaning we were able to get a smaller mortgage."

Anita Williams, sales and marketing director for Persimmon Homes West Midlands, comments: "The Helping Hand scheme is a perfect option for many buyers as it means they are able to buy a home they can afford now, and with no fees or monthly rental to pay on the remaining balance.*

"It also offers purchasers flexibility, as the percentage they pay is not fixed. We have had purchasers pay 75 or 80 per cent of the value before, it is completely up to the home buyers. If they can afford to pay more, like in Sophia and David's case, they can. And the best part is they have up to ten whole years before they need to pay the remaining balance."

Sophia concludes: "I'm delighted with our new property. Persimmon's Helping Hand scheme has offered us the financial support we need and the home fulfils our every need, helping to bring our family closer together."

Situated off Willenhall Road, Deans Park is close to Wolverhampton city centre and within easy reach of Birmingham, accessible via the M6 which is a couple of miles away.

For further information, log on to Persimmonhomes.com.

*Terms and conditions apply.