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August 6, 2008    

Persimmon and Halifax promise to double deposits

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by Gill Montia
Persimmon and Halifax promise to double deposits

Persimmon has joined forces with Halifax to help first-time buyers enter the property market.

The housebuilder’s “double your deposit” scheme does exactly what it says as long the funds are used to buy a new Persimmon home.

To participate in the offer, a would-be homeowner needs to make regular deposits of up to £5,000 into a savings account with Halifax or Bank of Scotland, over a six month period.

Persimmon will then match the savings so that if, for example, £5,000 becomes £10,000 when used as a deposit on one of the company’s new houses.

A realistic savings goal such as £5,000 can therefore provide a 10% on a £100,000 property or 5% deposit on a £200,000 property.

The company’s group development director, David Bryant, says that the initiative is aimed at people in their 20s and even 30s who have been unable to buy a home.

Savers can invest in any Halifax or Bank of Scotland account.

Those worth considering include the Bank of Scotland instant access savings account at 6.5% AER and the Halifax guaranteed saver reward at 6.25% AER.

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