New 95 per cent mortgage helps struggling buyers

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LOCAL estate agency Connells in Horsham has announced it has teamed up with Skipton Building Society to provide customers with a 95 per cent new-build mortgage designed to help those who are struggling to save for a large deposit.

Connells said: “The mortgage is one of the market’s only 95 per cent products for new-build houses and will mean that buyers only have to raise funds for a five per cent deposit.

“The mortgage is available through Connells mortgage consultants to first and next-time buyers, whether they are buying a new-build house through Connells or a house builder directly.

“We know how important it is to help buyers who are struggling to raise the necessary deposit to secure a mortgage and get on or move up the housing ladder, so we are delighted to be able to offer this mortgage.’’

Dan Ryan, mortgage manager at Connells in Horsham, said: “We believe this announcement will give hope to those first and next-time buyers who wish to purchase a new-build house but feel they do not have the financial ability to do so.”

Connells sells a range of new-build homes at a number of developments every year including many ideal for first and second-time buyers.

“At Connells we saw a 44 per cent increase in the sale of new-build homes in the second quarter of this year when compared to the same period in 2010. We believe the availability of this mortgage for customers buying a new-build home will further boost sales and help to support house builders and this sector of the housing market,” says Dan.

For further information on this 95 per cent new-build mortgage or to find out more about Connells mortgage services and the housing market, contact the local Connells office on 01403 256331 or visit the branch at 31 Carfax.