Linden Homes helps first-time buyers

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Linden Homes helps first-time buyers

Thu 25th Jan 2007

Amid a climate of rising interest rates following the recent Bank of England base rate spike, housebuilders are seeking to offer first-time buyers better deals in the housing market.

Linden Homes has struck up a plan designed to offer a helping hand to first-time buyers onto the property ladder, offering to subsidise these customer's mortgages for the first two years of the product.

Under the terms of deal offered by Linden Homes, monthly repayments can be reduced to as little as £499 and customers must pay a deposit of a minimum five per cent.

Philip Davies, chief executive of Linden Homes said: "Housebuilders are in a unique position to offer help to first time buyers, which they can't receive from the second hand market.

"We know first time buyers are a vital ingredient of a healthy housing market and in a climate of rising house prices and increasing borrowing costs, we must find creative ways of improving affordability."

There are two sites subject to the Linden Homes deal, Romana Square development in Manchester and Air, located in Crawley, Sussex.

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