David Wilson Homes

January 30, 2012 04:00 ET

Local Homebuyers Boosted by New 95% Mortgages

LONDON, UNITED KINGDOM--(Marketwire - Jan. 30, 2012) - In 2012, prospective creditworthy home buyers looking to get their foot on the property ladder will be offered assistance in first time buying without having to raise a hefty deposit.

The Government's National Housing Strategy, recently announced by David Cameron and Nick Clegg, brings about the return of 95% mortgages for new home buyers and will offer a significant boost to both local housing markets and local economies.

The 95% mortgages are specifically designed for purchasing new build homes; priced at very competitive rates, the application and approval process should not involve any more complications than getting a standard mortgage and will be available through all of the leading lenders.

Group Director of Sales and Marketing at Barratt Developments, Jeremy Hipkiss said, "The key thing about the return of 95 per cent mortgages on new build homes is that people will no longer need huge deposits of up to 20 per cent of the price of the property."

Hipkiss stressed the importance of the scheme across the board for home buyers, with benefits reaching beyond first time buyers. He added, "Make no mistake - this is a game changing moment for creditworthy buyers who have been understandably frustrated for years about not owning a home of their own. Anyone who doesn't have much equity in their current home but needs to take their next step on the housing ladder also stands to benefit."

David Wilson Homes, who were awarded Housebuilder of the Year at the Housebuilder Awards 2011, expect that with along with the introduction of the 95% mortgages, more and more local buyers will be able to look beyond older homes in favour of new build properties.

For more information on the developments available across the country, visit http://www.dwh.co.uk/ today.

Note to editors -

  • Part of the Barratt Developments group since 2007, David Wilson Homes we are dedicated to creating the highest-quality homes to be lived in and loved.
  • David Wilson Homes operate in thirteen regions across England, Scotland and Wales
  • For two years running, David Wilson Homes have received the 5 Star Housebuilder Award from the Homebuilders Federation - the highest quality recognised

Contact Information

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    Patrick Law
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