Deposit Match Scheme Helps First Time Buyer

Date: Thursday 13 May 2010

Like many first-time buyers, Nikki Leeson didn’t find it easy making the step from living in rented accommodation to investing in a home of her own, and despite saving a considerable deposit, she still found many homes were out of her reach.

But when she discovered Taylor Wimpey’s Limes Park property development in Basingstoke, the 35-year-old project manager was pleasantly surprised to find she could afford a larger home than she expected. Even when lenders temporarily withdrew funding for 90% mortgage deals in the midst of the recession, the leading housebuilder came up with an attractive solution that solved the problem in an instant.

Through the amazing Deposit Match scheme, Nikki was able to borrow 5% of the purchase price of her Limes Park home as an interest-free, 10-year loan – and Taylor Wimpey helped her to find a great mortgage rate to suit her circumstances.

“I had heard housebuilders like Taylor Wimpey were offering help to first-time buyers so I popped into Limes Park during my lunch break one day last May,” says Nikki, who moved in with her parents in Yateley, Hampshire, while she saved for a deposit.

“I remember walking round the development thinking how lovely it was, but worrying that there was no way I could afford to live in a place like that. So I was pretty amazed when the Sales Executive came up with a great price that was within my budget, and they worked like crazy to find me a mortgage deal which wouldn’t have been possible without Deposit Match.

“The best thing is that I have already got quite a bit of equity in my new home because the market has been so healthy since I made the reservation. It’s all worked out fantastically well for me and I can’t wait to move in!”