Persimmon offers house hunters a helping hand

With purse strings tightening further this season due to current speculation of an economic downturn couple with the rising cost of living has left many househunters disappointed. However, Persimmon Homes South Midlands has found the perfect solution for those looking for a brand new home.

Persimmon's Helping Hand shared equity scheme is available on selected properties at the company's beautiful The Maples development in Gloucester, and allows purchasers to own a home having initially paid for just 75 per cent of the value of the property. They have up to ten years interest free to pay back the remaining 25 per cent of the current property price.

Alison Reading, sales director for Persimmon Homes South Midlands, comments: "We constantly strive to offer the best prices on all of our homes and understand that, especially in current market conditions, many buyers struggle to obtain a mortgage.

"While new homes in many places in the South Midlands area still represent good value for money, as an industry we have to accept that many buyers are finding it difficult in the current climate."

For those with lower savings and for the growing number of people wanting to buy on their own, shared ownership is a perfect option as it means they can buy a home without the cost of a huge mortgage.

Alison concludes: "Take for example our three bedroom Eastnor homes at The Maples. We're offering the property for just £152,000 and with our shared equity scheme purchasers would just pay £114,000, therefore greatly reducing the monthly mortgage payments, making buying the most cost effective option."

The Maples is situated off Coney Hill Road and, when complete, will offer purchasers a choice of one and two bedroom apartments and two and three bedroom homes. The development provides residents with good local amenities as well as being close to the excellent shopping and leisure facilities that the cathedral city of Gloucester has to offer.

For further information on the properties available at The Maples, log on to Rightmove.co.uk.