Exclusive small-deposit mortgage package Perfect for Pam!
Pam Bains is a first-time buyer in more ways than one.
The 28-year-old Midlander has just become the proud owner of a new Bovis Home - and the first person in the country to complete her purchase using the company's exclusive and market-leading Perfect 10 mortgage package.
Pam, a medical sales rep, is delighted with her stunning two-bedroom apartment with its all-inclusive specification a few miles from the centre of Birmingham - and admits that making that first step onto the property ladder would not have been possible without the Perfect 10 scheme. With the package, buyers only need to provide a 10% deposit - and still get a very competitive interest rate.
"I wanted to buy my own place but didn't think I could go ahead with my plans this soon," explained Pam, who was living with her parents at the time. "But the Bovis Homes mortgage deal suited my situation perfectly so I took the step and went for it."
Pam's new Bovis Home includes a contemporary fitted kitchen, integrated appliances, an en-suite and fitted wardrobes. "To tell you the truth, I hadn't even been considering buying a new-build property because you normally need at least a 20% deposit - so this really opened up a door for me," she said. "There was nothing else like it available at such a decent rate."
Everything seemed to fit into place for Pam from the moment she met Bovis Homes sales manager Georgina Neil. "I walked into the Bovis Homes sales office and talked to Georgina and it turned out that the Perfect 10 had just been launched that day. Everything went from there and the whole process has been very smooth - even as the first person to complete on it!
"My new apartment is fantastic and just 15 minutes away from work, so I couldn't be happier."
Georgina has helped Pam through the homebuying process and continues to be on hand after the purchase as part of Bovis Homes' customer service commitment. She said: "Being able to help someone onto the property ladder when they didn't think it was possible is really rewarding and one of the best parts of the job.
"Housebuilding shouldn't just be about building houses - it should be about helping people to buy those houses and then looking after them properly once they've moved into their homes. Pam is a great example of that and we all wish her the best in her new Bovis Home."
More people are applying for Bovis Homes' Perfect 10 package every week - a great new deal for buyers who want to borrow up to 90% of the value of a new home, featuring a Woolwich mortgage from Barclays. It has been created to offer an attractive mortgage solution in the current housing market.
With first-time buyers still generally facing demands for high deposits from lenders, the Perfect 10 bucks the trend. A recent Home Builders Federation report claimed that the average first-time buyer would need to save a deposit of just over £37,000 to buy a £155,000 starter home. If the buyer qualified for Bovis Homes' Perfect 10, they could get a mortgage for the same-priced house with a deposit that is £21,500 less than that average.
The interest rate on the mortgage package is currently fixed at 4.99% for the first two years, after which it reverts to a lifetime tracker at base + 2.49%, which equates to just 2.99% at today's base rate. The overall cost for comparison is 3.5% APR and the arrangement fee is £999.
The Perfect 10 package also includes free, three-year unemployment protection insurance, £500 towards a buyer's legal fees and is available on any new Bovis Home at all of the Company's developments across England and Wales.
The new deal means that a first-time buyer buying a two bedroom coach house for £104,995 could get a mortgage of up to £94,495 and would pay £551.86 per month for the first two years on a 25-year repayment basis. In addition, first-time buyers pay no stamp duty on homes up to £250,000.
For more information on the package, visit www.bovishomes.co.uk/perfect10 or call your local Bovis Homes sales advisors. All customer enquiries for Perfect 10 must go through Bovis Homes.
ScottCurtis, Group PR and Communications Manager, Bovis Homes.
Tel: 01242 662675; firstname.lastname@example.org