Dreams come true for Portsmouth buyers

With average house prices in Hampshire now standing at £279,234 and prices of semi-detached properties averaging £240,817 , it is not surprising that buyers seeking their first property in the area are struggling to find their dream home.

With purse strings tightening further in the New Year, the rising cost of living is leaving many househunters disappointed. However, Persimmon Homes South Coast might have found a perfect solution for buyers looking for a new home in Portsmouth.

The Dream Come True initiative enables buyers to take advantage of a shared equity scheme at its Dickens Quarter development in the city. The scheme facilitates purchasers to pay for 75 per cent of the property with Persimmon making up the remaining 25 per cent, enabling buyers to own 100 per cent of their property.

This means that all two and three bedroom homes at this lovely new development, priced from £189,950 can actually be purchased for as little as £142,463, making securing your first mortgage that little more affordable.

Purchasers then have up to ten years to pay back the remaining 25 per cent of the property price until they sell or transfer it. With most people’s salaries certain to increase over a ten year period, the opportunity of no interest to pay on the remaining 25 per cent offers an affordable way to home ownership.

Rob Allen, sales director for Persimmon Homes South Coast, comments: “We constantly strive to offer the best prices on all of our homes but understand that many buyers still struggle to obtain a mortgage.

“While new homes in many parts of Hampshire still represent good value for money, as an industry we have to accept the fact that many buyers are finding it difficult in the current climate.

“And even when buyers are able to obtain a mortgage, the cost of moving often prevents them from going ahead. To help househunters with their cash flow problem, we are offering the 'Move in for £99' initiative at Dickens Quarter where we pay the 5% deposit and 1% stamp duty and also contribute £500 towards legal fees and another £500 towards professional fees, bringing the cost of moving to just £99."

Both incentives are currently available on all two and three bedroom homes at Dickens Quarter in Portsmouth excluding the Portchester house type. Prices for two and three bedroom properties start from just £189,950 and £216,950 respectively.

Dickens Quarter is situated just off the A288 which provides access to the A3, M27 and A27, allowing for easy access to Guildford, Southampton, Brighton and subsequently London. As well as good road links, the site benefits from good rail links. A train journey from the nearby Fratton Station to London Victoria takes approximately 1.5 hours.

To register your interest, visit Persimmonhomes.com.