Taylor Wimpey offers a boost to its Scottish Shared Equity Scheme

Date: Tuesday 16 April 2013

Following the welcome boost this year’s budget gave to buyers across the rest of the country to purchase a new home, Taylor Wimpey in Scotland is keen for buyers to capitalise on the range of incentives that are available to help them to make a confident move to a new home. It has now extended its shared equity scheme Easystart by raising the house price threshold of new homes applicable in this incentive from £170,000 to £250,000, and for the first time it is now available to both first and second-time buyers.

Homeowners will require a 5% deposit, and they have the reassurance that they own 100% of their property from day one. Thereafter they need a mortgage for 80% of the value. The other 15% is provided rent and interest free by Taylor Wimpey for up to ten years, at which point purchasers repay 15% of their home’s current market value. The scheme is flexible, allowing purchasers to repay the outstanding amount early or even make smaller one-off payments up to three times during the ten year period.

Audrey Ross, sales and marketing director for Taylor Wimpey West Scotland comments: “We’ve seen that there are signs of improvement in the housing market across Scotland, and the measures announced by the Chancellor will go a long way towards boosting general buyer confidence both north and south of the border to encourage more.

“We are delighted to announce improvements to our Easystart shared equity scheme which sees a significant increase in the value of new homes that we can now consider as part of this scheme – allowing both first-time buyers and existing homeowners to get the help they need to make the move to a new home.”

There are a variety of other schemes available from Taylor Wimpey on selected new homes at developments across Scotland including its helpful Part Exchange, MI New Home or Easymover incentives that aim to make moving to a new home easier than ever.

Karen Armstrong, sales and marketing director for Taylor Wimpey East Scotland adds: “One of the many advantages of a new build property is that we can offer a variety of incentives and schemes suitable for all types of buyers.

“Our traditional ways of offering a helping hand such as our part-exchange or Easymover schemes are still popular with buyers looking for a stress-free move, and the chance to tap into our wealth of experience in the homebuyer market.

“Recently, we’ve also seen encouraging success with MI New Home – the Scottish Government supported scheme that offers increased availability of up to 95% loan to value mortgages; in fact since its launch in September 2012, a number of our customers in Scotland have used this initiative, and many have moved in and are enjoying the benefits of owning a new home.

“I’d urge anyone who wants to move but thinks they can’t afford to, or who is perhaps having difficulty selling their existing home to visit one of our developments today. Our experienced sales executives will be able to talk you through the options and incentives that are available and you could be moving into your dream home before you know it.”

For information on Taylor Wimpey developments and incentives across Scotland, or to book an online appointment at your nearest development visit www.taylorwimpey.co.uk/scotland.