Don't become part of 'Generation Rent' urges Taylor Wimpey

With the startling news that one in five 18 – 34 year olds* has been forced to move back home and many are giving up hope of ever being able to get onto the property ladder, Taylor Wimpey Midlands is urging young Britons from ‘Generation Rent’ to pay its developments across the region a visit.

Here they’ll find that not only is there a host of affordable first time buyer properties to choose from, if they buy a brand new home there’s also a raft of financial incentives, including shared equity and deposit paid schemes, that can be used to help make the home ownership dream a reality.

Anne Wallace, regional sales and marketing director for Taylor Wimpey Midlands, said: “The recent news on how many young Britons are resigning themselves to life at mum and dads or in rented accommodation is shocking, not least because there is in many cases a real chance of home ownership.

“We speak to so many first time buyers who have almost given up hope because they’re either confused by the conflicting reports on house prices and mortgages, or simply deflated by the unrealistic deposits they think they’re going to have to save. But as soon as we talk them through the options available and the ways in which we can help they soon realise there is a chance of owning their first home.”

One of the schemes available is Easystart**, specially designed to help first time buyers onto the property ladder by enabling them to purchase 100% of the property now for just 85% of the price. All that’s needed is a 5% deposit on exchange of contracts and 80% of the price via a prearranged mortgage on completion. Taylor Wimpey will then loan the buyer the remaining 15%, with no rent or interest to pay for up to 10 years.

Anne adds: “With Easystart you only need a 5% deposit to secure a mortgage, not one that runs into the tens of thousands, making the amount you need to save much more achievable. I’m urging first time buyers to do their research and exhaust all of their options before giving up and a good place to start is by visiting one of our developments to find out more.”

Easystart is currently available on selected plots at Taylor Wimpey developments across the Midlands including Diglis Water in Worcester, Grafton Gate in Roade, Henley Grange in Halesowen, Lavender Fields in Evesham, Lawley Farm in Telford, Regency Square in Burton, The Hedgerows in Dudley, The Stables in Uttoxeter and Wharf Central in Solihull.

For further information visit the developments, visit: taylorwimpey.co.uk/newhomes/midlands/office

*figures from housing charity Shelter
**subject to terms and conditions on selected plots