Mortgage Partnership Offers a Helping Hand to Buyers - Wednesday 25 June 2008
Walker Group has launched a new mortgage service and shared equity scheme for its clients, working in partnership with Bruce Colquhoun, to help potential buyers secure an appropriate mortgage.
Raymond Colquhoun, a Partner with the Glasgow based IFA, said, "There is a general feeling that it's impossible to get a mortgage and that there are no options available which is simply not true. It is a challenging time for first time buyers but for those with even a 5% deposit there are still mortgages to be secured.
"The income multipliers largely remain the same as rates have hardened, but there is still a great deal of affordability amongst people seeking to buy a new home."
Walker Group has teamed up with the independent broker, which specialises in arranging mortgages for new build property owners with access to preferred rates, to offer advice to potential homebuyers.
In addition, Walker Group has introduced its shared equity scheme to selected sites and on remaining developments the company is paying deposits of between 5 and 10%. Under the shared equity scheme, buyers defer paying 15% of the value of the property for 10 years enabling owners to purchase a property without an initial deposit or purchase a more expensive property.
Sandy Casey, Walker Group said, "Our shared equity scheme is ideal for first time buyers who only need to seek an 85% mortgage from their lender.
Although there is a ten year cap on the repayment, we've found that most people are ready to move on to their next home within five years. However, we have a package of incentives at all our developments to suit different needs, such as stamp duty paid or flooring provided."
Walker Group currently has developments at Cumbernauld, Elderslie, Falkirk, Larbert, Bonnyrigg, Tranent, Dalkeith and Bathgate. Further information is available from www.walkergroup.co.uk.
