Flats for sale in Baguley, Greater Manchester, from just £80,745
06 January 2016
One North West developer is offering a lifeline to first time buyers in the region with the offer of a tailored incentive.
Selected two bedroom apartments at Persimmon Homes’ Sycamore Chase development on Moor Road in Baguley, are currently on offer from just £80,745 as they have been made available with the developers’ Shared Equity incentive.
With Persimmon’s shared equity scheme, buyers pay 85 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. 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 purchase without having the cost of the whole mortgage and allowing them to pay the remaining amount when they feel more financially secure.
Claire Jarvis, Persimmon’s sales manager, explains: “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. What’s more, as the 15 per cent of the value of the property, which is deferred, acts as the deposit and because the loan to value ratio is decreased, it enables them to access much cheaper mortgage rates – it’s a win-win situation.
“Not only can buyers benefit from buying one of the flats for sale in Baguley now, at a time when prices are at their most competitive, but with plans to connect Baguley to Manchester Airport by tram by 2016, its appeal will undoubtedly become further enhanced.”