Property expert asks why rent when you can buy in Hellingly
13 March 2014
Persimmon Homes is advising tenants in East Sussex that the Government’s Help to Buy scheme is actually making it cheaper to buy a home than continue renting.
Jo Richards, head of sales and marketing for Persimmon Homes South East, said: “When mortgage lenders demanded a deposit of 10 or 15 per cent, buying a house seemed like an impossible dream to many, who resigned themselves to years – or even a lifetime – of renting.
“Help to Buy was introduced to make home ownership a realistic and achievable proposition for more ordinary people.
“Under the scheme, buyers need a five per cent deposit and the Government will contribute up to 20 per cent of the purchase price as an equity share loan which is interest free for five years. The remainder is covered by a repayment mortgage.
“People are amazed to learn that, With Help to Buy Scheme, the mortgage on a three bedroom house at The Drive development in Hellingly could work out significantly cheaper than the rent on a similar property.”
A three bedroom ‘Woodhurst’ style semi-detached family home is available at £299,995. With Help to Buy this would require a deposit of £11,500 and monthly mortgage payments of around £600.
The Woodhurst includes a cloakroom, comfortable living room and dining kitchen with French doors to the rear garden, a family bathroom, master bedroom with en suite shower room and two further bedrooms.
Jo added: “All new Persimmon Homes are constructed to the latest technical and building regulations, making them thoughtfully designed and energy efficient, and they come with a National House Building Council 10-year warranty for peace of mind.
“Anyone who would like to find out more is invited to call into the marketing suite at The Drive at Roebuck Park, Hellingly, any day between 10am and 5pm to speak to one of our experienced sales advisors.”