95% mortgages available on new homes in Colchester

An exclusive new incentive lets purchasers secure selected homes with just a 5% deposit at Taylor Wimpey’s Blenheim Park, The Boulevard, The Quarters and Cooks Shipyard developments of property for sale in Colchester.

Home buyers can now take advantage of an exclusive scheme that paves the way for them to secure a 95% mortgage on a brand new Taylor Wimpey property in Colchester.

Taylor Wimpey’s Take5 deal, with Saffron Building Society, is being offered on a choice of beautiful new homes at Taylor Wimpey’s The Boulevard, Cook’s Shipyard, The Quarters and Blenheim Park developments of properties to buy in Colchester.

It means that buyers could now secure selected two-bedroom new builds in Colchester with a deposit from just £5,750, compared with the UK average of £28,770*.

The launch of the new mortgage, which has an interest rate of 5.99 per cent fixed for two years on selected Taylor Wimpey property to buy in Colchester, comes as Housing Minister Grant Shapps chairs an emergency summit in London this week with mortgage lenders, house builders and other industry leaders to find a solution to the first-time buyer crisis.

Deputy Prime Minister Nick Clegg has stated that first-time buyers had been "frozen out" of the market by the lack of mortgages. The Council of Mortgage Lenders estimates that the average age of a first-time buyer not receiving financial help from family is 36. This is largely due to the size of deposit now required by lenders which has trebled in the last 10 years.

Michael O’Leary, Regional Sales and Marketing Director for Taylor Wimpey, says: “It’s been particularly hard for buyers to find affordable mortgages, and saving up the required deposit for most products on the market can seem completely out of reach.

“However, our new 95% mortgage slices thousands of pounds off the initial sum buyers need to save to secure their home, and those with a deposit of just £5,750 should get in touch as soon as possible and take advantage of this outstanding opportunity to step onto the property ladder today.”

A range of brand new homes are available at Taylor Wimpey’s current developments across Colchester, located as follows. By contacting the Sales Executive at the development, potential buyers can find out more about the 95% mortgage scheme as well as full terms and conditions of the offer.

ESSEX
Blenheim Park, Colchester
The Boulevard, Tamarinds, Colchester
Cooks Shipyard, Wivenhoe
The Quarters, Colchester

Information on Taylor Wimpey’s developments across the East London region is available by visiting: taylorwimpey.co.uk

* Halifax First Time Buyer Review (December 2010).