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HelpUbuy equity loan boost for first-time buyers

BROMFORD Homes is offering homebuyers a great new affordable scheme that can help to unlock the home of their dreams at Priorsleap, Telford.

Our HelpUbuy equity loan scheme is ideal for first-time buyers who need a bit of help when it comes to getting their deposit together.

How does it work? You choose a great home at Priorsleap and we lend you up to 15% of the value without changing any interest for the first five years.

All you have to do is then is take out a 80% mortgage, with a 5% deposit, and we could be handing you the keys to your Priorsleap home much sooner than you thought.

"Our homes at Priorsleap represent exceptional value for money, with prices that start as low as £132,558 with HelpUbuy for  a three-bed home," says Priorsleap Sales Consultant Carol Bradshaw.

Your home is 100% yours

"But we know that many first-time buyers struggle a bit when it comes to pulling together what, for them, is a fairly sizeable deposit.

"That's why we've introduced the HelpUbuy equity loan scheme. You will still need some savings − enough to cover the 5% deposit on the share you are purchasing, but that's much less than if you buy without the scheme.

"You will also need a mortgage that will cover at least 80% of the value of the Priorsleap property you are looking to purchase, while Bromford's HelpUbuy equity loan will cover the rest of the purchase price.

"It really is as simple as that. Your home is 100% yours − just as it would be with a traditional outright purchase − and the loan is interest free for the first five years.

"If you get to the end of the five years or if you sell or transfer your property during that time,  then you pay back the equity loan. You can either pay us back in instalments, or repay the same percentage that you first borrowed − based on whatever the property is worth at that time."

There's another great incentive for Priorsleap − HelpUmove, which means you can reserve the home of your choice on selected schemes and properties before you've sold your existing home. Part-exchange will also be considered on selected homes.
The Priorsleap showhomes are open from Thursday to Monday, 10am to 5pm. To find out more or to make an appointment call 07850 901466 or 01952 618351.

14 December 2012