Business is brisk at Bramley Fields
Despite the current market conditions, David Wilson Homes Southern has reported brisk sales at its Bramley Fields development at Marnel Park in Popley, Basingstoke. The housebuilder has been selling around four homes a week during the last month and attributes this to some excellent new deals it is offering buyers; there has never a better time to buy.MyChoiceHomeBuy, a Government-supported scheme aimed at people with a household income of between £20,000 and £60,000, but who have no deposit, is proving particularly popular.
The scheme works with the buyer taking out a regular mortgage from any participating bank or building society. The remainder of the balance, up to a maximum of 50 per cent, or as little as 15 per cent, is then provided by an equity share loan, provided by the Government through the MyChoiceHomeBuy scheme.
With no deposit to find, buyers are offered an affordable solution to buying their first property, subject to eligibility through Thames Valley Housing a HomeBuy Agent. A small charge per month of currently 1.75 per cent is payable on the Government loan. The loan is paid back when the home is sold or the buyer has finished paying the mortgage. They can also repay early in one go, or in stages.
A typical example is a one bedroom house at Bramley Fields. Currently priced at £125,000, it could cost just £62,500 under the scheme.
Lynne Morgan, sales director of David Wilson Homes Southern, says: “Finding a deposit can be difficult, this initiative offers a straightforward and affordable solution into a brand new home.”
If buyers are worried that the value of their new home may fall in the next few years then help is at hand. David Wilson Homes has unveiled its unprecedented three-year price guarantee which takes the risk out of buying a new home in the current market.
The way it works is simple. If you want to sell your house within three years and the value is lower than you paid for it, David Wilson Homes will refund the difference up to a maximum of 15 per cent. In other words, even if house prices fall 15 per cent by 2011, you won’t be out of pocket.
Lynne Morgan adds: “Customers who buy one of our homes with a price guarantee will only need a mortgage for 85 per cent of its value. That’s because we’ll give them a deferred loan for the rest and they can pay us back when they can afford to, up to 10 years upon completion. It all adds up to a big helping hand for buyers.”
Bramley Fields offers a collection of well-designed one, two and three-bedroom homes. Prices for homes currently released for sale start from £125,000 for a one bedroom house and from £195,000 for a three-bedroom house. A new phase of four-bedroom detached houses will be launching in November.
For full terms and conditions relating to the special deals available at Bramley Fields, log on to Dwh.co.uk.
