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June 23, 2009    

Taylor Wimpey launches Deposit Matcher

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by Gill Montia
Taylor Wimpey launches Deposit Matcher

Taylor Wimpey claims to have the “perfect solution” for would-be homemovers who are excluded from the best mortgage deals because of they have too small a deposit.

According to the developer, 49% of homeowners are in need of more space and many are being forced to put their next move on hold.

Taylor Wimpey has therefore launched its “Deposit Match” scheme, currently available on selected properties at George Wimpey’s Viewpoint development in Heeley.

The company says it will match deposits of up to 10% of a property’s value, giving customers access to a wider range of mortgages and more competitive interest rates.

The additional funds come in the form of an interest-free loan over 10 years with the flexibility to reduce a payment up to three times during the loan term.

However, if the loan is not repaid within the ten year period, interest is payable at 2% above base rate.

Taylor Wimpey’s regional sales and marketing director, Anne Bagshaw, comments: “We understand that the availability and affordability of mortgages is a major concern for our buyers and this scheme goes a long way to address those issues.”

She adds: “Boosting deposits through an interest free loan is a great way to increase the number of mortgage deals available to them and to reduce monthly repayments.”

George Wimpey’s Viewpoint development is on Myrtle Road in Heeley.

Apartments, mews homes and townhouses are available with prices currently starting at £89,995.

In related mortgage news, the British Bankers’ Association (BBA) has today reported that the number of loans approved for house purchases rose to 31,162 in May.

The figure is up from 29,018 in April and shows an increase of 15.8% year-on-year.

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