Shared equity made simple with Persimmon Homes

Now that the credit crunch has well and truly bitten, several national homebuilders are offering generous incentives, including a number of shared equity schemes, to assist first time buyers onto the property ladder during this difficult economic time. But with so many deals on offer, househunters are forgiven for being more than a little confused when it comes to comprehending what the schemes involve.

A recent report has highlighted that half of all first time buyers and key workers are either unsure of or have never even heard of any of the Government-backed shared equity schemes on offer. It is for this reason homebuilder Persimmon Homes Essex is keen to help purchasers understand the different schemes as well as dispel any associated rumours.

Neil Sykes, sales director for Persimmon Homes Essex, explains: "With so many varieties of Government supported shared equity initiatives now on the market, such the First Time Buyer Initiative and My Choice Homebuy to name two, it's no wonder several househunters are confused by the products and that some are even unsure as to whether they are eligible.

"At Persimmon, our dedicated team of sales advisers at our 13 developments across the region are on hand to give full and detailed advice to interested parties, from the difference between the schemes and what percentage of the property the purchaser will buy to how the remaining balance will be paid and budgeting for monthly mortgage repayments."

The interesting and informative report also found that over 97 per cent of all first time buyers would qualify for one or more of the shared equity schemes, but with so much confusion surrounding them, several purchasers are afraid to even ask about what's available to them and some even wrongly believe that shared equity would entail buying their home with a stranger.

Neil concludes: "We're fully aware of the huge financial constraints being faced by several key workers and first time buyers, which is why we're so keen to support these purchaser groups in making their all important first step onto the property ladder and shared equity is a great way of achieving this.

"If you'd like to find out more about shared equity and how it could work for you, I'd recommend you visit one of our developments, and speak to one of our expert sales consultants."

For more information, log on to Persimmonhomes.com.