Helping Hand

Do you have a member of your family or friend who can provide up to 20% of the price of your new home?  If so, they could earn a fantastic payment equivalent to a rate of 12.5% interest on their contribution over two years.

This will help you get a loan at a very attractive mortgage lending rate, keeping your monthly costs down in those crucial first few years of moving into your dream home.

Typical Example:

On a Bellway home priced at £160,000 a contribution by your family member or friend of 20% deposit of £32,000, would yield a fantastic guaranteed payment of 12.5% equivalent interest which would mean a payment of £8,000 over two years.

The contribution does not need to be as high as 20%.  Some lenders can lend up to 90% of the purchase price, only requiring a 10% deposit. The more deposit you can put down, the more attractive the lenders rate becomes. 

Your questions answered

Q. What are the main benefits of this scheme?
A. Many families assist their children onto the property ladder, providing capital at no cost or return. The benefit of the Helping Hand scheme is that they will be rewarded for their help.

Q. Can anyone fund up to 20% of the purchase price?
A. It can be a member of your family or a friend.

Q. Can more than one family member or friend assist?
A. Yes. For example, both sets of parents can gift the deposit.

Q. Does the deposit have to be as much as 20%?
A. No - some lenders will accept less deposit. Our nominated broker can go through the full range of mortgage products available to you.

Q. Is the equivalent interest guaranteed?
A. Yes for two years.

Q. How is it paid?
A. The equivalent interest payment will be paid to your family member or friend directly by cheque on an annual basis.

Q. Can any mortgage provider be used?
A. We can arrange for you to have financial advice from our nominated mortgage broker who will confirm the range of high street lenders available to you.

Q. Is the Helping hand scheme available on all Bellway developments?
A. No - this scheme is only available on selected sites. Please speak to our Sales Advisor for further details.

TERMS & CONDITIONS

Any promoted Bellway Homes offer is subject to contract, status, selected plots only, subject to availability and cannot be used in conjunction with any other Bellway Homes offer.

Offer based on Bellway Homes paying 12.5% equivalent interest, payable in arrears for two years.  The amount payable would be capped at 5% of the purchase price.

All offers must be used in conjunction with the recommended mortgage broker who will provide independent advice. Details on request.

Prices and details are correct at time of going to press.

Images are typical of Bellway Homes.