Subscribe to our Construction Newsfeed
UK Construction Directory
Search our 157,213 companies....

Construction News

10/06/2010

Barclays Makes Mortgage Offer To Bovis Homes Customers

Construction News Image
Barclays, through its mortgage arm Woolwich, has launched a market-leading mortgage offer for up to 90 per cent loan to value (LTV) available for people purchasing a new home with housebuilders, Bovis Homes, as part of efforts to help stimulate the new-build market in a sustainable way and provide affordable mortgages for consumers with low deposits.

The scheme, designed by insurance broking group Jardine Lloyd Thompson (JLT) in partnership with Barclays and Bovis Homes, will also provide buyers with free unemployment protection for three years from the date of exchange.

The new mortgage, which is one of the most competitive rates at this level since the recession hit, is fixed at 4.99 per cent for two years for loans up to 90 per cent LTV. After the first two years it reverts to a lifetime tracker at base + 2.49 per cent which equates to just 2.99 per cent at today’s base rate. The arrangement fee is £999.
-- Advertisement --
hss



The mortgage package – being marketed as 'The Perfect 10' – is aimed at home-movers with limited equity and could particularly benefit first-time buyers who do not have to pay stamp duty on purchases up to £250,000. A typical first-time buyer purchasing a Bovis Home at £150,000 would require a mortgage of £135,000 and would pay £788.41 per month on a 25-year repayment basis.

David Ritchie, Chief Executive of Bovis Homes, said: "In the current market, the ability of purchasers, especially first-time buyers, to access high loan to value mortgage finance has been severely curtailed. Working with Barclays, we have agreed 'The Perfect 10' mortgage package, which allows our customers to borrow up to 90 per cent of the value of their new Bovis Home at a very attractive fixed interest rate.

"Many of our potential customers are struggling to save the higher deposits required by the mortgage market today and this innovative new product, which is currently only available to us, will mean that more customers will be able to buy a new Bovis Home now, at a more affordable cost."

(CD/GK)

Latest Construction News

20/05/2025
A new library and learning hub in Great Yarmouth, known as The Place, officially opened to the community last week, heralding the completion of a £17 million regeneration project delivered by Morgan Sindall Construction's Eastern Counties business on behalf of Great Yarmouth Borough Council. Nearly
20/05/2025
Robertson Construction North East has commenced work on a major regeneration project in Redcar, marking a continued partnership with Redcar & Cleveland Borough Council. The development, which forms part of the Redcar Town Deal, will deliver a modern family culture and entertainment venue alongside
20/05/2025
Work has officially begun to connect Bradford College to the £70 million Bradford Energy Network. The project, led by 1Energy, will supply clean energy to three key institutions: Bradford College, the University of Bradford, and Bradford Courts. The Bradford Energy Network will deliver heat through
20/05/2025
Nottingham City Council is set to approve plans for the development of new council homes in Bulwell and St Ann's, as part of its ongoing Building a Better Nottingham programme. In Bulwell, the council is proposing to transform an under-used garage site located behind the Colston Road and Austin Str
20/05/2025
Stanmore Contractors has announced the launch of Stanmore Design House, a new division dedicated to providing RIBA Stage 4 and beyond technical design services, paired with integrated procurement and construction advice. The division launches at a pivotal moment for the construction industry, as ne
20/05/2025
Wates Construction South has reached practical completion on the Life and Mind Building, a project for the University of Oxford and one of the largest building developments in the institution's history. The 26,000m² facility will serve as the new home for the University's Departments of Biology and
20/05/2025
Cementation Skanska has announced the appointment of Emma Haddow as its new Operations Director, with immediate effect. In her new role, Haddow will lead the company's operations across Scotland, the north of England, and its UK-wide Ground Engineering services. With over two decades of experienc
20/05/2025
Sisk has been named as one of eight contractors to win a place on Liverpool City Council's Highways Planned Works Framework, securing a position on Lot 2: Projects over £1.5 million. The new multi-supplier framework is designed to streamline the procurement of high-quality highways services by enab
20/05/2025
Barratt London has announced a new housing concept, Lo-E Homes, which aims to deliver climate-resilient, ultra-sustainable homes across the capital that exceed Passivhaus standards. The developer will initially submit plans for 728 Lo-E Homes across two major developments at High Barnet and Bollo
20/05/2025
One of Wales' largest housebuilders is set to expand its footprint into Caerphilly after securing a major land deal to deliver new homes in the town. Persimmon Homes East Wales has completed the purchase of a 12-acre site at Virginia Park, which already benefits from full planning permission. The d
Stuart CanvasEfco UK LtdAqua Direct LtdLakeside Hire1A Ideal LocksmithsFlipFix LtdHayston Developments & Planning LtdArtisan PlastercraftNest EstimatingMaterials Market UK Trading Ltd