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

LOUGHBOROUGH, U.K. - Nov. 19, 2014 - PRLog -- Leading Leicester-based house builder, Jelson Homes, says that Loughborough 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.

Grange Vale, Loughborough

Grange Vale includes two-bedroom apartments, two- and three-bedroom mews homes, three-bedroom semi-detached homes and three-bedroom detached homes. The development is just a few minutes’ drive away from the town centre, which hosts a selection of local shops, boutiques and eateries.

For families, there’s a selection of schools in the area, both state and independent, while travelling further afield couldn’t be easier, owing to the proximity of the A6 and M1. To find out more about the homes available, visit the show home, open 11am–5pm, Friday–Monday. Alternatively, contact the on-site sales office: 01509 233077 | jelson.co.uk

Jelson Homes is currently building in Birstall, Coventry, Desborough, Enderby, Hinckley, Huncote, 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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