Escape the rent race with houses for sale in Skelmersdale and Ormskirk
10 August 2011
Many young house hunters who crave a home of their own may assume that their only option is to rent however one housebuilder is pulling out all the stops to help them own their very own property.
Persimmon Homes Lancashire has launched its 80/20 Shared Equity incentive on the new release of properties at two developments in the area - Beacon Green in Skelmersdale and Nightingale Walk in Ormskirk.
Diane England, sales director for Persimmon Homes Lancashire, said: “Shared Equity is an ideal option for many buyers as it means they are able to purchase without having the cost of the whole mortgage – in this case paying just 80 per cent of the market value - with no fees or monthly rental to pay on the remaining percentage.
“Buyers often find they are in a win-win situation as because the loan to value ratio is decreased, it enables them to access much cheaper mortgage rates.”
With Persimmon’s shared equity scheme, buyers pay 80 per cent of the value of the property and the remaining percentage is not payable for ten years or until the home is re-sold - whichever comes first, with no interest to pay for the first five years.
Houses for sale in Skelmersdale and Ormskirk are ideal for those on lower incomes and for the growing number of people wanting to buy on their own, the scheme is an ideal option for many buyers as it means they are able to pay the remaining amount when they feel more financially secure.