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Persimmon Homes

Houses for sale in Skelmersdale, Lancashire are better than renting

30 March 2011

Buyers could be financially better off buying a property rather than renting, according to Persimmon Homes Lancashire.

The Lancaster-based housebuilder is encouraging anyone who is in rented accommodation in Skelmersdale to consider buying instead - paying off their own mortgage rather than rent to a landlord.

According to Persimmon, rent on a four bedroom homes costs approximately £673 per calendar month. However, with Persimmon’s ‘shared equity’ scheme, would-be-buyers could buy a brand new four bedroom house for sale in Skelmersdale, Lancashire, at the Beacon Green development on Tanhouse Road and pay less in mortgage repayments.

With shared equity, four bedroom properties from just £131,996 and based on figures from Persimmon’s nominated independent financial adviser, buyers could expect to pay, on average, £664.10 in mortgage repayments*.

Diane England, sales director for Persimmon Homes Lancashire, comments: “Anyone who is frittering away money in a rental property thinking they can’t afford a new home of their own because they don’t have a deposit, or believe they can’t stretch to taking out a mortgage, needs to talk to us as many people’s rent is equal to, or in some instances, actually more than repayments.”

She continues: “Competitive house prices, tailored deals including shared equity and an all time low interest rate of just 0.5 per cent means it’s a buyers market and that purchasing has never been so easy, or affordable.”

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.

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.

*Subject to financial advice and individual financial circumstances. Customers are advised to speak to Persimmon’s recommended mortgage adviser for more information

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