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Buy for Less than Renting !

June 21, 2011 11:16 am
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Buy for Less than Renting !

95% Mortgages Available for First Time Buyers

Buy for a lower monthly Cost than renting without having to have tens of thousands of pounds of deposit saved.

In an exclusive deal with a leading Building Society, Manchester Estate Agents Thornley Groves have access to a substantial fund set aside specifically for First Time Buyers aged 25 years and older to be used on purchases of between £125,000 and £250,000.

Jason Watkin, Operations Director of Thornley Groves Estate Agents which has 8 offices across Manchester City Centre and South Manchester, including prime First Time Buyer territories such as Sale, Urmston, Salford, Altrincham and Manchester’s trendy Northern Quarter, confirmed that for the last few years First Time Buyers have been prevented from getting on to the housing ladder by the strict criteria adopted by most lenders where buyers need to have circa 25% saved as a deposit before lenders will even look at their application.

Jason commented that Sales volumes  in Manchester City Centre and the suburbs have picked up noticeably year on year, sales in the city centre are running at twice the level of this time last year, mainly due to a reduction in prices and the fact that the market has clearly stabilised, another factor is that the cost of renting has increased dramatically during the last year as fewer new build properties have been built and sold to investors and many tenants are choosing to renew their existing lease as they’ve been unable to buy, this creates a shortage of supply and has fuelled huge rises in rental values. Buying now, even after factoring in the prospect of interest rate rises is substantially cheaper than renting.

It’s easily possible to buy a property and pay less in mortgage payments than you would if you were renting the same property, the barrier until now was that most buyers didn’t have access to a £30k plus deposit, but now with this particular mortgage deal first time buyers with a deposit of just six or seven thousand pounds buyers can get on the ladder.

Anybody interested in learning more about this amazing opportunity to fund a property purchase for a lower monthly cost than renting  should in the first instance contact Chris Collins at Thornley Groves [email protected] or 0161 905 0207

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