Rise in lending signals boost for summer buyers

With today’s news that mortgage lending has rocketed to £16 billion, coupled with continued low interest rates and the suspension of stamp duty for homes up to £175,000, now is the time to buy according to Taylor Wimpey in the Midlands.

The Council of Mortgage Lenders (CML) reported that the total amount of UK mortgage lending rose in July by 26% from the previous month and is now at a nine-month high. Taylor Wimpey, which has sold more than 320 homes across the region this year, is urging house hunters to take advantage of its attractive prices and money-saving incentives to make their move now to secure the best deal.

Anne Wallace, regional sales and marketing director for Taylor Wimpey Midlands, comments: “Despite the tough economic conditions our visitor levels show that people are keen to buy but have been struggling to do so because of a lack of affordable mortgages. The news from the CML and the Bank of England is a welcome boost as it will open the door to a wider range of loans for buyers.

“We’re advising purchasers to be proactive when it comes to securing the best deal available. Those who are keen to get onto, or up, the property ladder need to be in a position to react quickly. They should research the local market and talk to mortgage lenders so that that they can have the pick of the deals. By buying new purchasers will also be able to secure their home at a guaranteed price with no danger that someone will come in with a higher offer and gazump them.”

To help purchasers afford the home they want Taylor Wimpey is offering a range of incentives and government backed schemes on selected properties at its developments across the Midlands region.

For first time buyers the housebuilder’s Deposit Match* scheme may provide the perfect solution. The house builder will match the deposit put down by purchasers in the form of an interest free loan, up to 10% of the property’s value. This additional capital provides first time buyers with access to a wider range of mortgages, more competitive interest rates and reduced monthly payments.

Those who want to move up the property ladder can take advantage of Taylor Wimpey’s Easymover* scheme which is ideal for anyone who wants a hassle-free move, all for free. A team of pre-selected estate agents will help you find a buyer, usually within six weeks of going on the market, arrange your packing and unpacking and even pick up the fees.

Anne added: “With unbeatable prices on our stylish new homes now really is the time to buy. Our homes consultants have been run off their feet dealing with enquiries so to make sure you don’t miss out on a great deal, why not come and see them today?”

For more information about the homes currently being built by Taylor Wimpey Midlands visit taylorwimpey.co.uk.

*Subject to terms and conditions. On selected plots only.