New Shared Equity deal at The Oaks in Preston
North west buyers can cut monthly mortgage bills and the cost of moving thanks to a new shared equity deal from Taylor Wimpey Manchester and Halifax.
With Taylor Wimpey’s Easystart shared equity scheme, the buyer owns 100% of their home from day one, but only need to secure a mortgage for 75% of the price. Taylor Wimpey will contribute a 5% deposit and a small 5% deposit is also paid by the buyer.
Securing a mortgage for only 75% of the property price means buyers will find lower, more affordable rates.
The remaining amount is repaid in monthly sums or as a one lump sum interest free within 10 years of completion.
The stunning Westerham property is just one of those proving popular at the prestigious, The Oaks development.
Offering well-planned family accommodation in a delightful location, the semi-detached home is priced at an affordable £112,496* with the new Easystart scheme. This represents a monthly cost of just £650*.
As well as three bedrooms, a generous living room with French doors leading on to a private garden and two allocated parking spaces, the property also benefits from fully fitted carpets, integrated kitchen appliances and ceramic floor tiles as standard.
Industry experts say the deal represents a cost-effective way for buyers to get onto the property ladder.
As Tim Ridgen, managing director of independent mortgage brokers Wise One Ltd explains: “Shared equity schemes are an ideal way for first time buyers to get on the property ladder and help to bring house prices to an affordable level.
“This new deal from Taylor Wimpey and the Halifax means that first time buyers now have access to lower interest rates, which in turn means their monthly mortgage repayments will be more affordable.”
As Anthony Mansfield, regional sales and marketing director for Taylor Wimpey Manchester, says: “We all know that mortgage finance can be hard to come by and this deal will provide that vital step up that so many buyers need.
“Having a higher deposit will always give you access to better mortgage rates so customers can still reserve their dream home and keep monthly costs down too.”
The Oaks is the perfect place to raise a family or make a commuter base.
Situated in the thriving town of Leyland and within easy reach of Preston centre, the M6, M61 & M65 motorways are all a short drive away, providing excellent commuter links to the whole of the North West.
As well as a strong selection of good schools, Leyland is within easy access of a thrilling range of amenities, including Astley State Hall and Art Gallery and retail outlet, Botany Bay.
For further details visit the sales office on Wheelton Lane, off Golden Hill Lane, Preston, PR25 3UF, which is open Thursdays to Sundays between 11am and 5pm, and Mondays 3pm to 5pm.
*Terms and conditions apply
