First-time buyers get a leg up the property ladder with new share scheme in Portadown

FIRST-time home buyers are being given a unique opportunity to purchase a beautiful home in rural Portadown with no deposit and for less than £450 per month, thanks to an imaginative new 'Own a Home' scheme. End Quote

(1888PressRelease) June 16, 2009 - A selection of exclusive detached and semi-detached houses are for sale at Clendinning at Maghon Park - an established, mature and spacious existing development situated just off the Mahon Road.

A typical semi-detached home with garage can be purchased from only £114,950 and to let potential buyers see exactly what they would be getting for their money, a special celebratory garden party has been planned for the weekend of June 20 and 21. Visitors will be given the chance to stroll around the development while enjoying some live music, children's entertainment and barbecue. In addition, anyone who pays a booking deposit will be entered into a draw for a free conservatory.

The homes have been built by Turkington Holdings which is offering a number of semi-detached houses, either through the normal route to purchase or with the added incentive of attractive sponsored schemes to encourage first time buyers onto the property ladder.

With the new ‘Own a Home’ scheme (the first of its kind in the UK), the developer and local housing associations each finance 25% of the house price, with the customer paying the remaining half, plus an ongoing rent to the housing association.
Alternatively, with the ‘Momentum Deal’ involving a collaboration between the developer (Turkington’s) and Ulster Bank, the developer pays the deposit of 5% and future proofs the price by covering the cost of any depreciation up to 10%. The Ulster Bank also has 95% mortgages in place and the customer owns the home.

No deposit is required with either of the sponsored schemes and all part funding deals are in place with the relevant Housing Associations and banks – all adding up to a terrific opportunity for first time buyers to settle straight into a mature and spacious development.

“Some of the most appealing characteristics of the development include its open space setting in a peaceful, rural suburb less than a mile away from the bustling heartland of a busy commercial town,” said agent Trevor Kerr from the Property Spot in Portadown.

"Selected features include brick boundary walling, brick paved footpaths and mature trees and shrubs throughout. There are also attached garages with every house, generous front and rear gardens laid in lawn and impressive internal and external storage, including built-in wardrobes in all bedrooms."

With the latest Nationwide survey reporting house prices rising for the second time in the three month period March to May, there’s no better time to get your foot on the property ladder.

More information will be available at the garden party when representatives of the banks and agents will be available to answer any questions.

Alternatively, the selling agents or housing associations can be contacted directly. These are the Property Spot, Portadown, tel 028 3833 9700; BTW Cairns, Belfast, tel 028 9066 8888; South Ulster Housing Association, Portadown, tel 028 3833 9795; or Clanmil Housing Association, Belfast, tel 028 9087 6000.

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