Bellway Homes in affordability

New homes builder Bellway East Midlands will offer customers the chance to buy a new home for 75% of the current market value as the company takes a head-on approach to affordability by launching a new home purchase scheme called Opening Doors.

For first-time buyers the scheme offers a ray of hope enabling them to take their first tentative steps onto the housing ladder.

In the East Midlands, Bellway has properties priced from £89,950, which will be available through Opening Doors for the cost of interest payable on a home under £67,500.  There is no interest payable on the deferred amount, meaning although you own 100% of the property, you are only having to pay for 75%. The remaining 25% is repayable after 10 years or upon re-sale/re-financing of the property.

The new scheme is available on selected properties at Bellway developments in locations across the East Midlands including Nottingham, Leicestershire, Lincolnshire, Northampton and Peterborough.

Commenting on the Opening Doors scheme, Ben Smith, sales director at Bellway East Midlands said: “We have looked very carefully at how we can improve the financial situation for new home buyers. Opening Doors is unique in the way that it provides 100% ownership but reduces the cost of borrowing in the early years when most new home owners are more financially stretched.

“Since Bellway was established over 60 years, we have collaborated closely with various types of buyers to come up with the right selection of homes for people looking for quality new builds within the East Midlands. Therefore innovative schemes such as Opening Doors recognise the issues facing house buyers in today's market by offering them alternative routes to allow them to actually own their dream home.”

Bellway compromises 18 regional divisions, each with its own portfolio of unique properties. This ensures that every region has homes which will appeal to buyers in that area and local building products can be used wherever possible.

For information regarding Bellway's developments across the East Midlands, contact the sales department on 0116 282 0400 or visit the website at www.bellway.co.uk.