Countryside has launched a new initiative at its NGV Liverpool development to help reward the increasing numbers of parents who help family members to buy their first home.
According to latest figures from the developer, one in five homebuyers who purchase through the Government-backed Help to Buy scheme are turning to parents for financial support.
In response, Countryside has launched a unique new scheme, ‘The Bank of Mum and Dad’ which rewards buyers who have received help from parents or family members with a cashback sum of £2,000 upon completion of their purchase.
Available across the range of three and four-bedroom detached and semi-detached homes, the new scheme is offered to those who purchase a new home through the popular Help to Buy scheme.
Help to Buy enables buyers to own 100% of the property while receiving a 5 year interest free equity loan of up to 20% and requiring only a 5% deposit. Prices at the development start at just £98,400* of which the mortgage payments work out at only £99 per week. Full prices for three bedroom homes start from just £123,000.
Peter Vella, regional sales and marketing director for Countryside, commented: “Saving for a deposit, even when it is only relatively a small amount, can be a challenge, especially when money is tied up in renting, and we are seeing more of our buyers turning to parents and family members for support.
“Our scheme is designed to relieve some of that pressure from the family, by offering a reward to help buyers repay their relatives upon completion. The aim being is that all the family can enjoy this exciting time together and free up some money to start making their new home their own.”
Located in the suburbs, NGV Liverpool is a range of three bedroom homes, ideal for young families looking to set up their homes in a fantastic location, offering both modern convenience and nearby countryside.
The NGV Show Village is open seven days a week from 11am until 6pm at 32 Deanscales Road, Liverpool, L11 2XU for buyers to browse the range of new homes. For more information visit www.ngvliverpool.co.uk or contact the sales team on Tel: 0151 9095508 or e-mail firstname.lastname@example.org.
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