New door opens for first time buyers in Bristol
With news out today* that a typical first time buyer needs to save on average a staggering £37,000 to be able to get their foot on the property ladder, Taylor Wimpey Bristol is encouraging those stuck in a rental rut to get in touch.
The house builder has a number of financial schemes designed specifically with those struggling to buy their first home, but believes there’s not enough awareness amongst first time buyers of the moving options available to them.
Richard Goad, regional sales and marketing director for Taylor Wimpey Bristol, said: “The research by the HBF highlights the unfortunate reality that many first time buyers are facing in today’s property market. Restrictions on mortgage lending, house prices and the cost of living makes home ownership seem unattainable, and with so many mixed messages in the media it can be difficult to make sense of the options available to first time buyers.
“Despite the challenging conditions we’ve helped a large number of first time buyers take the step onto the ladder – whether that’s through our shared equity scheme, matching their deposit or putting them in touch with our team of financial advisors. I want to encourage first time buyers who’ve given up on their moving dream to pay us a visit as there may be something we can do to help.”
Taylor Wimpey has a number of schemes designed to make moving into your first home a reality. The house builder’s Deposit Match scheme helps to boost the buying power of first time buyers and helps them secure a more competitive mortgage rate. Through the scheme, Taylor Wimpey will match your deposit, up to 10% of the purchase price, via an interest free loan over 10 years.
With Easystart, you can buy a new home for as little as 85% of the price now. Simply pay a 5% deposit on exchange of contracts, and 80% of the price via your prearranged mortgage on completion. Taylor Wimpey will then loan you the remaining 15%, with no rent or interest to pay for up to 10 years.
Taylor Wimpey is currently building a selection of high quality homes at a number of developments across the region. These include Meridian in Bristol and Portus in Postishead.
* Research by the Home Builders Federation.
