18 PROPERTY
Saturday, July 21, 2012
★★★★
“I was renting and didn’t think I could afford my own home...
...then I turned to Lovell!” They helped choose the home that’s right for me and now I pay just £96 per week. Owning your first home is easy with Lovell’s Shared Equity scheme. Initially, you buy 75% of your home and defer the outstanding balance for up to 10 years - and unlike other developers, we don’t charge you interest on the deferred amount!
Full purchase price 75% shared equity price 5% Deposit required
A range of 2 and 3 bedroom homes from only £71,996* with shared equity.
Weekly mortgage payment
£95,995 £71,996 £4,800 £96
Kensington Court
27 Holdsworth Drive, Kensington, Liverpool L7 2QN Tel: 0151 260 7342
Marketing Suite and Show Homes open Thursday to Monday 10am - 5pm
www.lovell.co.uk/kensingtoncourt
*TYPICAL EXAMPLE: SHARED EQUITY Based on a 95% mortgage on 75% shared equity price with a minimum 5% deposit contribution. This scheme is available on selected Lovell properties subject to status and terms and conditions. It is not available in conjunction with any other offer or promotion. Lovell Partnerships cannot give you any financial advice but can refer you to an Independent Financial Advisor. The reservation fee of £500 (fully refundable on legal completion) may not cover the whole cost of obtaining a mortgage and purchasing the property and appropriate professional advice should be sort. The £500 figure also assumes that you are eligible for a 95% mortgage at the fully funded share price of 75% of the property value. This will also be subject to the terms and conditions of the appropriate lender and you must seek professional advice to ensure you match the criteria. Other fees may be required. A minimum deposit of £4,800 will be required dependent on lender’s criteria. The weekly payment figure £96 (rounded up from £95.41) is based on the mortgage being a repayment mortgage over a 25 year term and subject to availability and suitability. Fixed rate for the first 2 years is 4.19%. (4.2% APR). Total fees for arranging the mortgage is £749. Total amount payable over 25 years assuming no change in interest rates would be £122,775. An early repayment charge would be payable before the end of the 2 year period and would be a maximum of £2,394. The maximum Equity Loan will be 25% of the purchase price, the equity loan is provided Lovell Partnerships Ltd and is held as a charge. The repayment sum will reflect 25% of the market value of the property at the time of sale or valuation. Prices and information believed to be correct at time of going to press and are subject to change without notice. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Images are for illustrative purposes only. Based on a full purchase price of £95,995.