Linden Homes Two Schemes to Help First Time Buyers

Online, January 5, 2012 (Newswire.com) - Linden Homes, based across the UK, have rolled out two innovative new schemes that are available on all of their properties, including new developments in Lincolnshire and new homes for sale in Cambridgeshire.

One of the schemes is named `Step Up' and is designed to make it more affordable for first time buyers to buy new homes, whilst giving buyers financially responsible lending options at competitive rates. A five per cent deposit is required and borrowers can take up the 95% option with competitive mortgage loan interest rates of 4.99%. Further lower and competitive lending rates are offered with higher deposit amounts.

Linden Homes have launched their schemes following the announcement from the Government of help with a mortgage indemnity scheme to help first time buyers get onto the property ladder.

Linden Homes build properties all over the UK including new houses in Bristol and new homes in Scotland. Buyers will be able to view a selection of available houses on their new developments with an option to take up the schemes.

A new development in Essex located at Colchester in Northfields offers the Step Up scheme as well as legal fees paid up to a value of £500.

The company is also offering a further scheme designed to help buyers with saving a deposit for a property. Launched with Hitachi Capital (UK) plc, their `Deposit Assist' scheme offers buyers the chance to increase existing savings with an unsecured load of up to 15% of the property price. The loan is granted over a period of 12 years up to the value of £300,000 and is repayable before the loan period without penalty.

Ian Baker, Linden Homes Group Managing Director, says: "At Linden Homes, we have been working hard with a number of lenders to bring 95 per cent lending to the market in certain areas of the country. Following the government's recent announcement, we are thrilled to be the first house builder to launch an affordable mortgage product for first and second time buyers at our developments which will now be available nationwide."

Notes to Editors:
What House? is a leading property website that features thousands of new homes for sale in Birmingham as well as the rest of the UK. It also provides the latest property news, valuation of homes and property and mortgage advice. Over the last 30 years, What House? has held their annual What House? Awards, which are the longest established New Homes awards in the UK recognising UK house builders and developers across 21 categories.