Warrington buyers can secure first home for under £75k
David Wilson Homes North West is helping first time buyers in Warrington to step onto the property ladder by giving them the chance to purchase a stylish home for just £74,130.
First-time purchasers can choose from a collection of properties at the housebuilder’s popular Chapelford Urban Village, including the two bedroom Amethyst at North Square (priced from £99,995), the modern Onyx at Cleveland Place (priced from £74,130) and the attractive Midhurst at Anniston Place (priced from £74,130).
Steve Jackson, sales director at David Wilson Homes North West, comments: “The Amethyst, Onyx and Midhurst have all been specifically designed to meet the needs of first time buyers whilst breaking away from the stereotype properties that are sometimes associated with a first home, so we are not surprised that they have already been proving popular with homebuyers in the region. We encourage anyone who is interested in securing one of these stunning homes for themselves to get in touch now.”
Furthermore, parents in Warrington who are looking to put down a deposit to help their children buy a new home from David Wilson Homes North West, can also apply for an unsecured personal loan of up to £50,000 from Hitachi Capital (UK) PLC.
The initiative means that for the first time parents can borrow the money to help their children onto the property ladder without either having to re-mortgage or put a second charge on their own homes.
The product is the only one of its kind currently on the market and is specifically designed to address current mortgage restrictions. Significant numbers of creditworthy first-time buyers are largely dependent on parental support because they do not have the deposit which lenders now require.
But many parents – who regard home ownership for their children as a sensible medium-term investment – are often reluctant to fund a deposit if any loan has to be secured against the principal family property.
Under the Hitachi Capital loan scheme, the typical buyer will only need to raise a deposit of five per cent. An 80 per cent mortgage is available from a number of High St lenders and the remaining 15 per cent of the purchase price can be met through an unsecured loan from Hitachi Capital (UK) PLC to the buyer’s parents or legal guardian.
Hitachi Capital (UK) PLC is offering unsecured loans of up to £50,000 for a period of 12 years at a fixed rate of 5.4 per cent. There are no early repayment charges and unlimited overpayments are allowed at any time during the agreement without penalty.
Steve Jackson continues: “This product is ideal for parents who have sufficient income to service a loan but no available capital or people who have capital which is tied-up and which they do not want to access in the short-term.”
Gerald Grimes, Managing Director of Hitachi Capital (UK) PLC, said: “This innovative David Wilson Homes loan gives parents an affordable option to support families getting on the housing ladder without dipping into hard earned savings.”
Parents or former guardians who wish to assist their children with a home purchase from David Wilson Homes North West will be eligible for the loans. Applicants must be UK residents, homeowners and have a good credit history.
North Square, Cleveland Place and Anniston Place are situated in Chapelford Village development, which offers a range of one, two, three and four bedroom homes. For further information visit: dwh.co.uk
