Davidsons Homes sees surge in enquiries as mortgage rates hit record low

A price war in the mortgage market means there has never been a better time to buy a new home, according to Davidsons Homes.

The Ibstock-based developer has seen a surge in enquiries from house-hunters keen to cash in on some of the best ever fixed rate mortgages.

Major high street lenders are offering rates of less than two per cent, which could result in significant savings for homeowners compared with previous fixed rate deals.

Davidsons Homes Sales Director Stephanie King said: “Visitor levels are up across our developments and we’re finding people are keen to proceed quickly.

“Mortgage rates are at a record low and buyers know this won’t last forever. With consumer confidence rising, people who have hesitated over trading up to a larger property seem ready to commit.

“There’s also a new generation of first-time buyers looking to make their move while there’s a good supply of competitive mortgage rates. They come to us seeking a home that will meet their needs for five to 10 years, so style, quality and energy efficiency are high on their priority list.”

Davidsons Homes offers a Fair Part Exchange scheme to enable buyers to move up the ladder. Alternatively, purchasers can take advantage of the Government-backed Help to Buy scheme at every Davidsons Homes development.

With Help to Buy you can purchase a new home with a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is provided as an equity loan which is interest-free for five years. Help to Buy is available to first-time and next-time buyers.

Stephanie King said: “The new homes market has been buoyant since the economic recovery began to gather pace and there is every sign this is set to continue.

“Buyers are recognising that new homes are the smart choice. You can tailor your home to your needs, take advantage of schemes such as Part Exchange or Help to Buy and significantly cut down your energy bills.

“Davidsons Homes has a five-star satisfaction rating from the HBF and every home comes with a 10-year NHBC warranty.”

Davidsons Homes is currently building at South Lawns, Scraptoft Hall, Leicester; Heritage View in The Long Shoot, Nuneaton ;  Heron’s Place, Arnold, Nottingham; St James Gate, Anstey; Wilson Gardens, Peterborough; Bakers Croft, Ibstock; The Grange, Whetstone; and Church Fields, Weddington. Woodgate View in East Leake and Foxglove Field in Byfield are due to launch in the spring.