Re­fur­bished house that oozes char­ac­ter

Northants Evening Telegraph - Property - - FRONT PAGE -

IN to­day’s hous­ing mar­ket, sav­ing enough money for a de­posit on a home is one of the most dif­fi­cult chal­lenges fac­ing first-time buy­ers and sec­ond-time home movers.

To help these buy­ers, Con­nells es­tate agency in Oak­ley Vale, Corby, has an­nounced a new mort­gage prod­uct al­low­ing pur­chasers to bor­row 100 per cent of the value of their cho­sen prop­erty.

This ex­cit­ing launch of a new 100 per cent Fam­ily Guar­an­tee mort­gage al­lows first-and sec­ond-time buy­ers to buy a home, sub­ject to a guar­an­tee from an im­me­di­ate fam­ily mem­ber, in the form of a se­cured col­lat­eral charge on their prop­erty. The guar­an­tee cov­ers up to 25 per cent of the mort­gage amount, en­abling the buyer to pur­chase a home with­out the need for a large de­posit.

“This is one of the first 100 per cent mort­gage prod­ucts since the credit crunch, and it couldn’t come at a bet­ter time,” says Paul Jones, mort­gage ser­vices con­sul­tant for Con­nells in Oak­ley Vale.

“Sav­ing for a de­posit and get­ting a mort­gage have been the most sig­nif­i­cant stum­bling blocks for first-time buy­ers, so our new 100 per cent Fam­ily Guar­an­tee prod­uct will help count­less buy­ers get on the prop­erty lad­der.”

As well as help­ing first-time buy­ers, Con­nells new 100 per cent mort­gage could en­able sec­ond-time home movers who may need to up­size, but lack the nec­es­sary cap­i­tal to put a de­posit on their next home.

“Dwin­dling house prices have caused some home­own­ers to be­come stuck with­out the means to make their next move,” Paul con­tin­ues.

“This new 100 per cent mort­gage will al­low par­ents, step-par­ents and grand­par­ents to help their chil­dren move home with­out the need to lend or gift them a large amount of money for a de­posit. In­stead, they can guar­an­tee up to 25 per cent of the loan against their own prop­erty.”

If you are in­ter­ested in Con­nells’ new 100 per cent mort­gage prod­uct, and would like to book an ap­point­ment with our mort­gage con­sul­tant, please call the branch on 01536 747320 or email oak­ley­vale@con­nells.co.uk

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