November 2008
The financial merry-go-round continues apace with the surprise reduction in interest rates of 1.5 per cent this month. But with no obligation to pass on the record cut, which sees interest rates at their lowest since 1955, banks and mortgage lenders have all responded independently leaving an ever more baffling mortgage market for buyers to navigate.
Now Arley Homes is lifting the lid on some of the best kept secrets in property finance with a Mortgage Busting Weekend at the superb Courtyard development in Hale. The leading North West housebuilder is offering the services of its own Independent Financial Advisors to help purchasers uncover the best deal for them.
Those who have been put off viewing their dream new home, for fear the current economic climate will make it impossible for them to get a mortgage, will be guided through the full range of packages available by financial advisors Andrew Mannion and Robert Skilling of Clear Financial Services. They say it is time to bust the myth and show first time buyers that they can still get on the property ladder and that mortgage deals are available.
Andrew says: “Despite all the hype, the housing market has not ground to a halt and we have even seen an upturn in the number of enquiries over the last month. Although the days of the 100 per cent mortgage are over, the banks are still lending. The key is to have a deposit and new-build properties are ideal as developers often help buyers secure a mortgage by offering to pay a portion of the deposit.
“Everybody’s circumstances are different but in most cases there will still be a mortgage offer out there for you. The more deposit you have saved up, the better the rates available, especially as the mortgage market becomes more competitive as the banks and lenders fall over themselves to offer the most attractive deals.”
Arley Homes is also offering part-exchange deals on homes at The Courtyard, a development of 14 properties including 12 luxury, four-bedroom town houses and two stylish apartments on an exclusive gated development in the popular village of Hale.
Alison Holton, sales and marketing director for Arley Homes, says: “Confidence is key in the property market and the recent interest rate cut is just the sort of good news homebuyers have been waiting for. It also comes just ahead of our Mortgage Busting Weekend which presents the ideal opportunity for people to come along and talk to an independent financial advisor to see just what offers are available to them.
“The Courtyard is a fantastic development which offers exclusive living in a gated development in a much sought-after area, at a realistic price. With the our help and advice we hope new buyers will be able to make the most of the lowest interest rates for more than 50 years and snap up their dream home before Christmas.”
The Mortgage Busting Weekend at The Courtyard, Moss Lane, Hale, is on Saturday 22nd and Sunday 23rd November from 10 am to 5 pm. Potential purchasers are free to drop in or can call sales advisor Jane Vaughan to book an appointment with the independent financial advisor between 11am and 3pm on 0161 929 8424. Properties start from £299,950
To be in the best position to get a mortgage consider the following tips:
1)Keep your credit rating up by paying bills on time. Missed payments and county court judgements against your name will damage your chance of being approved.
2)Save a deposit. Overly cautious lenders want to see responsible financial management which can be demonstrated by the ability to build up a 5 or 10 per cent deposit.
3)Shop around with the help of an independent financial advisor. Every buyer’s circumstances are different but with the number of lenders out there and the range of packages available, there will be something to suit almost every pocket.
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Press contact:
Deborah Garritty/Heather Butler,
Bell Pottinger North (01625) 506444/411/435
dgarritty@bellpottingernorth.co.uk/hbutler@bellpottingernorth.co.uk
