David Wilson Homes rewards generous parents in the North West

The North West’s leading housebuilder has unveiled a ground-breaking new scheme to reward the growing number of parents who put down a deposit on their children’s first home.

David Wilson Homes North West will pay the interest which Mum and Dad would have earned on their savings at a highly competitive rate of five per cent – well above the Bank of England’s base rate.

The offer means that parents who want to help their offspring get on the first rung of the property ladder can do so without losing a penny of interest on their savings.

Under the scheme – which is appropriately called ‘Parent Power’ - David Wilson Homes North West will pay five per cent interest per annum for a full five years on a deposit of up to 20 per cent. So if a parent puts down a maximum £24,000 deposit on a property costing £120,000, they will receive the equivalent of £1,200 a year in interest for five years. This is paid in a lump sum of £6,000 at the time of completion.

“The reality of high house prices is that a growing number of parents now put down a deposit to help their son or daughter to buy a property of their own,” said Steve Jackson, Sales Director at David Wilson Homes North West.

“But if that money is used to fund a deposit, it means that it isn’t in a high-interest savings account earning money for Mum and Dad.

“This new scheme assists with that problem because you can pay a deposit on a new home for your children and we will pay you the interest you would have earned on the money.”

Parent Power is just one of the initiatives David Wilson Homes North West offers to help first time buyers secure their dream home.

Ashlea Stoll, a first time buyer who recently purchased her first home from David Wilson Homes North West, explains: “Stepping onto the property ladder for the first time was a bit daunting, but the team at David Wilson Homes North West really helped to put me at ease and ensure that the whole process ran smoothly. Not only did they provide advice every step of the way but they made sure it was as easy as possible for me to secure the home I wanted. I just can’t wait to move in now!”

Homes currently available from David Wilson North West in the Manchester area include ICON, a collection of luxurious one and two bedroom apartments which blend striking design with high specification interiors. Situated in the popular area of Didsbury, ICON is located on the doorstep of some of the region's most celebrated restaurants and a host of shops, which all combine to create a relaxed village atmosphere. Moreover, with the M6 and M60 easily accessed from ICON, the development is also ideal for commuters. For further information, visit: dwh.co.uk