BYE BYE RENT BOOK!

According to new research, mortgage payments are now more affordable than renting for first time buyers.

A survey by Halifax found that for first timers, the average cost of buying a home is £100 less a month than renting. It also revealed that since 2008, the cost associated with getting on to the property ladder has fallen by 40%.

With encouraging evidence of increasing affordability, a figure of under £80,000 for a two-bedroom apartment or £124,000 for a four bedroom home in Rochdale should grab the attention of Lancashire’s young professionals and families.

Now down to the final few properties at Healey Fold, Rowland is offering first time buyers the chance to pay only 80% of the purchase price for the first five years. This means an apartment priced at £99,995 shrinks to £79,996.

Under the First Buy scheme, buyers own 100% of the property and only require a five per cent deposit. The government provides an interest free, five-year loan to cover the remaining 20% deposit, enabling buyers to benefit from lower monthly mortgage payments.

Paul Rowley, Managing Director of Rowland Homes, commented: “Lower mortgage rates and the temporary increase in the stamp duty threshold for FTBs on properties under £250,000 are significant factors helping young people reach that first rung.

“With First Buy, we’re aiming to further boost affordability for Lancashire’s would-be homeowners by bearing the brunt of deposit requirements and freeing up earnings.  It’s a simple and effective way to get your hands on one of the remaining luxury homes or apartments – and get your foot on the ladder.

“Healey Fold is an established development offering highly specified homes and apartments at the top end of the quality spectrum. Its fantastic location has been a major draw for residents who know the desirability of Shawclough Village. This is the last call for anyone hoping to make their move.”

Located off Shawclough Road, Healey Fold is a bespoke development of 54 three and four bedroom homes and two bedroom apartments.

Set in beautifully landscaped grounds, the development lies within walking distance of the picturesque Shawclough village, and only 2 miles from Rochdale, perfect for both nature lovers and those seeking fun in the forms of shopping, pubbing and clubbing.

There are a choice of homes and apartments which come with either a private driveway or a designated parking space and feature generously sized bedrooms and bathrooms, equipped with designer Duravit Starke 3 sanitaryware.

Fitted kitchens include single oven, gas hob and chimney hood – and, as part of Rowland’s on-going drive to maximise value for money for buyers, an integrated fridge-freezer and washer-dryer are also included as standard.

To make a viewing appointment, or for further information contact Ellen Bleakley 01706 657018.  For further deatails on Rowlands Powermove and First Buy schemes, please visit the 'current deals' section of our website