Only a 10% Deposit needed to buy a new Bovis Home

Oct. 18, 2010 - PRLog -- "The Perfect 10" mortgage has been created by Bovis Homes in patnership with Barclays Bank and insurance brokering group Jardine Lloyd Thompson and is available to Bovis Homes customers who want to borrow up to 90% of the value of their new home in England or Wales. The lending rate is fixed at 4.99% for two years, then reverts to a lifetime tracker at base rate plus 2.49% (equivalent to 2.99% at today's base rate). The arrangement fee is £999, and package also includes £500 towards the buyer's legal fees and 12 months' unemployment protection.

Bovis Homes Chief Executive David Ritchie, says of the new scheme: "Many of our potential customers are struggling to save the higher deposits required by the mortgage market today and this innovative new product, which is currently only available to us, will mean that more customers will be able to by a new Bovis Home now, at an affordable cost."

Under the new deal, someone buying a home costing £120,000 would be able to get a mortgage of up to £108,000, paying £630.73 per month on a 25-year repayment basis. For this sum, buyers could consider a two-bedroom "Carpathia" apartment at Bovis's Latitude development, close to the waterfront of Cardiff Bay and the city centre. For the same cost, homebuyers looking in Cheshire might look at the "Tiverton" three-bedroom townhouses at Westminster Place, just north of the city centre in Warrington.

Buyers with a budget of £180,000 would be able to get a mortgage of up to £162,000, equating to a monthly Perfect 10 mortgage bill of £946.09, again calculated on a 25-year repayment basis. For £180,000, buyers searching for a new home in rural Suffolk could select a two-bedroom, semi-detached "Radcliffe" house at Sir William's Green, a Bovis scheme at Red Lodge, between Thetford and Newmarket. At the same price point, buyers should look to Windsor Gate on the outskirts of Swindon, and the "Finston" three-bedroom home.

http://www.whathouse.co.uk/homebuilders/bovis-homes
http://www.whathouse.co.uk/new-homes

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