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Persimmon Homes

Why rent when you can buy in Coventry?

22 November 2010

Leading homebuilder Persimmon Homes South Midlands has launched its popular shared equity scheme at its Venue@Bannerbrook development, close to the heart of Coventry, to assist more househunters secure the home of their dreams at an incredible affordable price.

There’s no denying that even though the housing market is on the up, but securing a mortgage for a new home is still proving to be tough for some, which is why Persimmon’s 85 per cent shared equity scheme has been specifically designed for buyers who want to move onto the property ladder but don’t necessarily have all the funding that is required.

Alison Reading, sales director for Persimmon Homes South Midlands, explains shared equity: “Through this scheme, buyers only need a five per cent deposit and they will own 100 per cent of the property after initially paying for just 85 per cent. Persimmon then provides the remaining 15 per cent as a loan which is interest and payment free for the first five years.”

One bedroom apartments at Venue@Bannerbrook start from just £72,246 through the scheme and with a repayment mortgage sourced through one of Persimmon’s choice mortgage advisers starting from just £359[1] per month, it proves that buying with Persimmon isn’t just an attractive proposition, but an affordable one too.

Alison concludes: “Our shared equity scheme is a first time buyers’ dream as they’re safe in the knowledge that they own their own home, whilst still paying less they would in rented accommodation, it’s a win-win situation.”

A show apartment is now available to view and Persimmon boasts a fine collection of one, two and even three bedroom duplexes at Venue@Bannerbrook.

Situated on the outskirts of Coventry with its excellent selection of shops and amenities this is a well placed development with good access onto the motorway networks and within commuting distance of Birmingham.

[1] Information correct at 25th October 2010

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