Jelson Homes warns Leicestershire home buyers not to be put off by new mortgage application rules

LEICESTER, U.K. - Nov. 19, 2014 - PRLog -- Leading Leicester-based house builder, Jelson Homes, says that Leicestershire home buyers could be missing out on their dream property and not taking advantage the lowest interest rates in a generation because of myths surrounding the Mortgage Market Review (MMR).

Introduced in April to ensure borrowers are not offered loans they cannot afford, the MMR has resulted in lenders undertaking in-depth analyses of buyers’ spending habits to determine whether they can afford a mortgage.

But it seems that many are missing out on a golden opportunity because they mistakenly believe that the extra application checks have locked them out of the mortgage market.

George Bell from Meridian Mortgages, Jelson’s financial partner, says that now is the best possible time to buy a new home because of the 0.5 per cent base rate, which has been in place since 2009. As a result of this, high-street lenders have been bringing out attractive mortgage products for many categories of buyer, including those who are  using the Government-backed Help to Buy scheme.

Bell adds: “Leeds, Nationwide, Skipton, and Santander all offer products for first-time buyers right through to those with larger deposits. “Although the MMR was originally intended to root out bad borrowing, it has also had the effect of frightening off customers who are perfectly able to afford a mortgage. There are also myths that the process is now horrifically complex – and that’s just not true.

“Lenders have quickly adapted and, in fact, responsible lenders like Halifax have had similar systems in place for up to 10 years, so there is little to be worried about.

“The MMR changes that are now in place are there to protect the customer and guide them to finding a product that suits them best and gives them the most protection.”

Jelson Homes’ sales director Graham Jelley, added: “Many people have certain pre-conceived ideas about mortgage availability, which can so often be inaccurate.

“With this in mind we are pleased to announce that, in association with Meridian Mortgages, a brand-new helpline has now launched for those in need of independent advice before reserving a Jelson property..

“Meridian’s experts will run through a series of simple questions to assess buyers’ potential affordability and monthly repayments, to make the process of buying a brand-new Jelson home, with the best possible mortgage deal, simple and straightforward right from the word go!”

Would-be home buyers should contact the Jelson mortgage helpline number on 0116 272 0083, then selecting option one. Be sure to quote ‘Jelson Homes’ when you call, as it will qualify you for no-fee initial discussion and advice. The helpline is open seven days a week, 10am-6pm, and until 7.30pm on Thursdays.

Hallam Fields, Birstall

Hallam Fields features a mix of three-bedroom semi-detached homes plus three- and four-bedroom detached homes.

The development is also marketing a number of Kittiwake four-bedroom detached properties, which are now ready to move into and with part exchange available – meaning that purchasers’ could be moving home much quicker than they ever thought possible!

Located in a peaceful area of Birstall village, but within close proximity to all the area has to offer, this thriving hub features a fantastic array of outlets and general amenities catering for your everyday needs.

Leicester city centre is just a few miles away, providing a wider selection of shopping opportunities. Commuters will find access to the nearby M1 ideal, with links to larger cities both north and south.  To find out more about these new homes, come and take a look at the show home, open daily, 11am–5pm. Alternatively, contact Jelson Homes: 0116 267 7762 | jelson.co.uk

Jelson Homes is currently building in Birstall, Coventry, Desborough, Enderby, Hinckley, Huncote, Loughborough, Markfield, Peterborough, Rearsby, Shepshed, Sileby, Suttion-in-Ashfield, Thurmaston and Wigston.

For more information on any of Jelson’s developments, visit jelson.co.uk

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