David Wilson makes it cheaper to buy than rent

Owning your own home has many benefits, but many purchasers still think that they cannot afford to buy.

However, David Wilson is helping to help change this perception and homebuyers in Oxfordshire will soon discover that it could be cheaper for them to buy than rent at David Wilson Mercia’s Moo-ve development on Merton Street in Banbury.

A selection of David Wilson’s innovative iPad style, one-bedroom apartments are currently available to buy at Moo-ve with the help of its popular Easy Start scheme. This scheme allows purchasers to buy a new home for just 75 per cent of the price, meaning that the iPad apartments which are priced from £115,000 could be available to buy from as little as £86,250.

Julia Chapman, Sales Manager for David Wilson Mercia commented, “Easy Start is a fantastic scheme which has been specifically designed for first-time buyers who are currently struggling to get a foot onto the property ladder. The initiative allows purchasers to receive a 25 per cent interest-free loan on the value of their new home, meaning that the dream of home ownership could become a reality.

“Homebuyers are often overwhelmed at the prospect of having large monthly mortgage repayments, but with the chance to move into a home for less than £87k with Easy Start, the monthly mortgage figure could be much less than the average monthly rental figure of £481.00.*”

Gerry Dupree, Managing Director at Gerry Dupree and Company, the Gloucestershire-based independent financial advisory (IFA) firm recommended by David Wilson explained, “With David Wilson’s Easy Start scheme on a property of this value, homebuyers can expect an average monthly mortgage repayment of £396.13** which compares very favourably with the rental figures for the area.”

Julia continued, “Owning a home of your own can provide many benefits such as increased flexibility and security, plus it remains to be a great investment compared to those who rent, who will see no return on their money. This is a great chance to move get a foot onto the property ladder whilst saving money, so why not come along to Moo-ve and find your dream home today.”

Homebuyers who take advantage of Easy Start will own 100 per cent of the property from day one for just 75 per cent of the price. There is no interest or rent to pay on the remaining 25 per cent. The deferred amount is simply paid back as 25 per cent of the property’s open market value at the point of resale, or within ten years, whichever is sooner.

Moo-ve also offers a selection of two-bedroom apartments and three-bedroom houses. Prices start from £157,950. For more information, log on to dwh.co.uk/moo-ve.

*Monthly rental figure for Banbury taken from findaproperty.com.

**The average monthly mortgage figure is based on a purchase price of £86,250 plus a five per cent deposit (mortgage for a total of £81,937). This is a two year fixed term mortgage with Nationwide taken over 35 years with an interest rate of 4.58 per cent and £995 arrangement fee. The actual rate available will depend upon your circumstances. Ask for a personal illustration. Your home may be repossessed if you do not keep up the repayments on the mortgage.