Help for first time buyers in Thornaby and Middlesbrough

First time buyers looking to get a foot on the property ladder can now secure a new house of their own with just a 5% deposit by combining a helping hand from Taylor Wimpey with a new mortgage offer announced by Santander (formerly Abbey).

Available only to first time buyers buying a new house, the newly increased maximum loan size from Santander means that househunters can now apply for a 90% mortgage for the first time in two years. With Taylor Wimpey also offering to contribute 5% of the property’s value on selected homes along with stamp duty and legal fees in some cases, this means that purchasers are only required to put down a 5% deposit of their own.

This offer is available on selected two and three bedroom houses at Thorntree Vale, which currently start from £114, 950. This means a deposit of only £5,748 is required.

It is also available on selected three bedroom homes at Taylor Wimpey’s new Scholars’ Rise development on Marton Road in Middlesbrough, which currently start from £149,950. This would mean a deposit of only £7,498 is required.

Debbie Whittingham, regional sales and marketing director for Taylor Wimpey North Yorkshire, comments: ”It’s been particularly hard for first time buyers of late to find an affordable mortgage and save up the the required deposit. Combining the new mortgage deal from Santander with the incentives currently on offer from Taylor Wimpey will slice thousands of pounds off the savings pot that first time buyers need to get a loan.”

Thorntree Vale is close to Stockton-on-Tees and Middlesbrough and is only a short drive from the A19 and A66, offering commuters good access to the A1 motorway.

Scholars’ Rise’s location on Marton Road means that it is a quick trip up the A172 to reach Middlesbrough city centre, while the James Cook University Hospital, the local Toby Carvery and smaller shops are also right on the doorstep of the development. Stewart Park and Albert Park are also nearby, as is Middlesbrough Municipal Golf Centre.

For commuters, Scholars’ Rise has easy access to the A66 and A19. Nearby Marton train station offers services into Middlesbrough as well as to Nunthorpe, Whitby, Hexham and Darlington, while Middlesbrough station itself offers wider services, including to Manchester. Travelers interested in venturing further a field will benefit from Scholars’ Rise’s close proximity to Durham Tees Valley Airport.

Middlesbrough city centre has an excellent range of facilities, from shopping malls and multi-screen cinemas to theatres, art galleries and museums.

Further details about both developments can be viewed online at: taylorwimpey.co.uk

For further information on Santander mortgages, visit: santander.co.uk