New 95 Per Cent Mortgages A 'Game Changer' for Local Homebuyers
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwire) -- 01/03/12 -- 2012 will see creditworthy homebuyers in and across the country offered the best chance since the start of the credit crunch to without a hefty deposit.
Leading housebuilder Barratt Homes is hailing the return of 95 per cent mortgages for buyers of new homes - which was announced by David Cameron and Nick Clegg as part of the Government's national Housing Strategy - as a real boost for the local housing market and local economy.
"The key thing about the return of 95 per cent mortgages on new build homes is that people will no longer need huge deposits of up to 20 per cent of the price of the property," said Jeremy Hipkiss, Group Head of Sales and Marketing at Barratt Developments PLC.
"Even though house prices have fallen since 2007, not everyone has been able to take advantage because of the hefty deposits which lenders have been demanding ever since the credit crunch began."
"Now the banks have agreed to start lending again on new build homes at 95 per cent loan to value, so homebuyers will only need a deposit of five per cent. In practice that means that you could buy a home from Barratt Homes with a deposit of just GBP 7,500 for a property at the value of GBP 150,000."
"Make no mistake - this is a game changing moment for creditworthy buyers who have been understandably frustrated for years about not owning a home of their own. Anyone who doesn't have much equity in their current home but needs to take their next step on the housing ladder also stands to benefit."
Barratt Homes has already set-up a special portal for customers to register their interest online at .
The 95 per cent mortgages will be on offer from all the leading lenders in the New Year, are expected to be priced at competitive rates and should not involve any more complications than getting a normal mortgage. The product is specifically designed for new build homes.
Barratt Homes says that the 95 per cent mortgages represent one more reason why newly built homes are a better deal than their second-hand counterparts. Barratt is the only leading housebuilder which guarantees all the internal fixtures and fittings in a new home for a full five years - in other words, the first 1,824 days of occupancy.
Jeremy Hipkiss added: "Now that we have 95 per cent mortgages, I expect lots of local people who have been thinking about a second-hand home will look at what new home builders have to offer."
Visit today for more information on the developments we have available nationwide.
NOTES TO EDITORS:
1. Barratt Group sold 11,171 homes in the last financial year, making it the biggest housebuilder by volume in Britain.
2. Barratt Group was named Housebuilder of the Year at the Housebuilder Awards 2011.
3. Barratt Group was awarded a maximum five star rating for the second consecutive year in the 2011 Home Builders Federation Customer Satisfaction Survey.
4. In 2011 site managers working for Barratt Group won the highest number of NHBC Pride in the Job Quality Awards for a record seventh consecutive year.
5. Barratt Group is the only housebuilder to guarantee the fixtures and fittings in place at the time of purchase of its new homes for five years.
6. Barratt Group is also one of Britain's foremost sustainable housebuilders. It has now started on site at the Hanham Hall development near Bristol which will be the first Code for Sustainable Homes Level 6 community in the UK when it is completed.
7. Images of a selection of developments are available to the media at .
Contacts:
Barratt Homes
Patrick Law
07809 551790
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Datum: 03.01.2012 - 10:59 Uhr
Sprache: Deutsch
News-ID 100473
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LONDON, UNITED KINGDOM
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Personal Finance
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"New 95 Per Cent Mortgages A 'Game Changer' for Local Homebuyers"
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