With Deposit Boost we could help you borrow less and secure a more competitive mortgage rate on your first home.
|If you're a first time buyer and you’ve saved a 10% deposit for a Persimmon home, we could boost it by providing an additional 5%, giving you a total deposit of 15%.|
How does it work?
For example, if the home you wanted to buy was £200,000, you would need to have a deposit of at least £20,000 (10%). Using Deposit Boost, we could add an additional £10,000 (5% of the sale price), giving you a total deposit of 15% meaning you would only need to borrow 85%.
With a larger deposit, you won’t need to borrow as much from a mortgage lender and you might be able to secure a more favourable rate.
What do I do next?
Once you’ve found a home you think could be for you, contact the development where a sales advisor will be able to tell you if you can use Deposit Boost on your preferred plot.
The sales advisor can also put you in touch with a specialist New Homes Mortgage Advisor who will be able to advise you further on how to secure the best mortgage for you.
The offer is available on selected plots only, subject to contract and status. Terms and conditions apply, please see below.
Deposit Boost Terms and Conditions
- This offer is available on selected developments and plots only, subject to status and availability.
- This offer cannot be used in conjunction with any other Persimmon Homes offer.
- This offer is available to first time buyers only.
- This offer is not available on Buy to Let property purchases.
- This offer is for Persimmon Homes to contribute towards your deposit up to a maximum of 5% of the purchase price.
- This sum will be agreed prior to the reservation of your property.
- Purchasers are required to contribute a minimum 10% deposit.
- Persimmon Homes’ contribution is paid to the purchaser’s solicitor at the time of completion.
- Purchasers must meet the lender’s mortgage eligibility criteria.
- Legal completion must take place on or before the date agreed at the time of reservation.
- Persimmon Homes reserve the right to withdraw or alter the terms of this offer at any time prior to payment of a reservation fee.