/ New Developments

Peveril Homes – Open Event

House-hunters who wish to take advantage of a Government backed financial incentive which makes finding a cash deposit easier are being invited to an open event to see what is on offer.

Phoenix Place, in Sutton-in-Ashfield, is the venue for the showcase weekend on Saturday 30 July and Sunday 31 July.

Sales executive Heather Ryder will be on hand to help visitors discover more about the Help To Buy Equity Loan scheme, which allows purchasers to buy a high quality new home with a deposit of just five per cent.

House-hunters are invited to take a look at the site’s beautiful new four-bedroom view home and can sign up for a guided tour of the development to see the variety of property types available. There will also be independent financial advice on offer throughout the weekend and special deals available for anybody reserving a property on Saturday 30 July and Sunday 31 July.

Heather said: “Many people are eligible for Help To Buy but they may not be aware that they fit the criteria. It’s open to both first-time buyers and those who have bought previously and allows purchasers to take that next step by making their dream home more affordable.

“I’m looking forward to the event and showing visitors around our fantastic site so they can see for themselves the sort of high quality home they can buy with help from the scheme.”

Under the terms of a Help To Buy Equity Loan, the Government lends up to 20 per cent of the cost of a newly built home, so all a buyer needs to secure is a 5 per cent cash deposit and a 75 per cent mortgage to make up the rest.

Alison Kendall, Director of Sales and Marketing at Peveril Homes, explained: “Help To Buy has enabled people to move into properties that perhaps may have previously been slightly out of reach. For a very low deposit, buyers now have access to a range of fantastic high-quality, modern homes.

“It is open to first-time purchasers, as well as existing homeowners looking to move. However, the Help To Buy Equity Loan won’t be around forever so anyone who is interested should take advantage now.”

Phoenix Place, which has good commuter links to the A38 and M1, currently offers a selection of superb two, three and four-bedroom homes, ranging from £119,950 to £191,950. With Help To Buy, these figures drop to £95,960 and £153,560.

Alison continued: “Buying is far more cost effective than renting at the moment – based on a 1.74% fixed for 2 years over a 35 year term with a £995 lender fee and a 5% deposit, you could be paying approximately £67 a week for a mortgage on a two bedroom Bronte property*. Rentals are almost twice as much, at approximately £525 a month.

“On top of this, for a limited time only, a number of selected properties also include flooring throughout and turf as standard. However, as these properties are likely to be in high demand we’d encourage people to act sooner rather than later.”

Help To Buy made East Midlands couple’s dream home a reality

Adam Warsop, aged 28, signed up to the Help To Buy Equity Loan initiative when he moved to the Phoenix Place development which has been built by Midlands-based developers Peveril Homes.

Adam, who is a national business development manager, moved into his £185,950 four-bedroom detached house last September and is now thoroughly enjoying life at the popular site with Samantha, aged 26, and pet cat Marmalade.

PhoenixHTB2 - Peveril Homes - Open Event

Adam said: “I wanted to get on the property ladder and also wanted a good size, quality family home. Help To Buy allowed us to achieve both objectives and ticked all the boxes.

“We absolutely love the home that we are living in and feel very settled. Although there are only two of us and Marmalade, having four bedrooms means that we are able to easily accommodate family and friends. In fact, Samantha’s family is from the north and they love coming to visit the area whenever they can.”

Adam added: “The application process is really easy and if finding a large cash deposit is putting anyone off moving home, I’d definitely urge them to find out about Help To Buy.”

Anyone who wishes to attend the event should drop in to the sales centre on Saturday 30 July and Sunday 31 July, which will be open between 11am and 5pm. To find out about other Peveril Homes developments and receive details of the latest plot releases, go to the website www.peverilhomes.co.uk or call the Peveril Homes team on 01773 880550.

* The quoted figures are based on a Santander Help to Buy Mortgage currently available based on a Purchase Price of £119950. These rates may change at any given time. The 1.74% Fixed Rate expires 02/10/2018 then reverts to 4.74% Variable, giving 4.47% APRC. The arrangement fee of £995 is added to the loan and will attract interest. This fee is also payable upfront. This mortgage is subject to a satisfactory credit check and status. Your home may be repossessed if you do not keep up repayments on your mortgage.

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