Developers need to sell and are offering their new build stock at great prices so many believe now is the time to buy!
But did you know up to 100% residential mortgages are available??
When the developer is happy to retain an equity stake in the property there are some lenders who will treat this as your deposit contribution and will lend you 100% of your share. These are commonly known as shared equity mortgages and can be used with any developer willing to participate in the scheme.
They can even be used with private sellers of non-new build stock!
If you are a home mover or a first time buyer struggling to find a deposit, in addition to negotiating a good price, if the vendor is willing to retain a share of the property between 15-25% we know which lenders will allow you to take a mortgage of between 95-100% of your share but at low interest rates normally only reserved for those with larger deposits!!
For more information on how these mortgages can work for you click here and one of our experienced mortgage advisers will contact you
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