Parent power from Persimmon

A recent survey by insurer Scottish Widows suggested that graduates are finding it increasingly difficult to get that all important first step on the ladder. According to the survey, nearly 60 per cent of people who have graduated in the past ten years have been unable to buy their own home.

The news is further testament that the first-time-buyer market is continuing to struggle with increasing house prices and interest rates.

Persimmon Homes West Scotland has just launched an initiative that it believes will give young people that vital helping hand to buy their own home.

“With ‘Parent Power’,” says Ingrid Gahagan, sales director at Persimmon Homes West Scotland, “we guarantee to match any sum a parent contributes to their child’s apartment, up to 5 per cent of the purchase price, and as an added bonus we’ll include carpets.”

Persimmon Homes West Scotland is offering the unique incentive on selected apartments at Antonine Grange in Cumbernauld, Marchfields in Dumfries and Royale Court in Ferniegair, as well as on selected houses at a number of its developments, including The Stables in Carluke, Hillview Meadows in Dumfries, Brackenhill View in Law and Kingston Dock in Port Glasgow.

“For many young first-time-buyers, finding the deposit for their first home is the biggest hurdle, so many are forced into 100 per cent mortgages that can be very costly. With Parent Power, we’re joining forces with mums and dads to remove that barrier for them.

“The apartments we have on offer in these popular and much sought-after towns are ideal first homes. They’re all just minutes from their town centres and their key commuter links and what’s more we have a superb choice of apartments available with all the space, style and thoughtful design features that modern living demands.”

Parent Power is subject to appointing a Persimmon nominated Financial Adviser. Maximum contribution is 50 per cent of the deposit required subject to status, terms and conditions.

To find out more about Parent Power, visit Persimmon online at Persimmonhomes.com.