Now WJ Law, one of Northern Ireland’s leading housebuilders, has teamed up with the Halifax to offer first time buyers a unique scheme that allows them to buy with only a 10% deposit. What’s more, the lending requirements of the Halifax are less onerous than many other lenders, which will make affording a new home within the reach of many more buyers.

Under the new Smartmove 2 scheme, WJ Law defers10% of the house price for up to 10 years, making the mortgage a maximum of 80% Loan to Value. Paying for only 90% of the house, gives buyers that little bit of extra help in the early years too, as the 10% deferred payment to WJ Law is free for 2 years, thereafter a fixed interest rate of 5% APR will apply. Buyers will pay WJ Law 10% of the value at the end of 10 years, or when the house is sold, whichever comes first.

Renowned for the Country Georgian character of many of their award winning schemes, WJ Law has consistently been at the forefront of innovation in the local housing market. Speaking at the launch of the new Smartmove scheme, Managing Director David Law said; “We have seen the cost of renting far exceed the cost to buy, simply because people could not get the deposit together. Working together with the Halifax we have the answer; luckily for us it includes buying one of our homes!”

Full details of the scheme may be found at www.wjlaw.co.uk/smartmove

“The big thing is how much you can get for your money now” explained David Law. “We have noticed that there is an excellent demand for homes with 4 and 5 bedrooms; most of our homes also have a vaulted ceiling living room off the kitchen which buyers just love. It’s a long way from a few years ago when it seems that all one could buy were tiny apartments. We have noticed that it is the larger homes which are selling well, where there is tremendous value for money – Luxury on a budget!”

With 5 bedroom homes from £175,000, coupled with the award winning finesse which WJ Law bring to the table, house buyers are in a great position to get the move up which was previously unaffordable.

Mortgage experts have an interesting angle on this point: Phil Convery, Senior Advisor in the Mortgage Shop in Lisburn makes 3 points:

“First in days gone by, the difference in homes buyers were moving to might have been £100,000; now that PRICE TO CHANGE might be only £25,000. Secondly are the interest rates: with the Bank of England keeping interest rates at record low levels, this price to change is even more affordable. Thirdly we see from national figures that prices are starting to rise. Some of the resale stock may be still mis-priced, but the fear of falling prices when buying a new home has gone from the buyers I meet.”

WJ Law have achieved industry wide recognition for their highly attractive homes, such as the fairytale cottages, and the setting in which the homes are built. Indeed, interested parties have recently been able to get a flavour of some of the interesting goings on via the WJ Law facebook page

With 2 developments in Bangor, Lisburn, Banbridge, and Dromore, and monthly mortgage payments from £160 using “Smartmove;” the move up for less is within the reach of many.

There’s been no shortage of news here either. Things are looking up in the housing market locally. Houses are selling and we are seeing some improving mortgage deals out there for first time buyers and next time buyers, (Northern Bank, our Smartmove scheme, and the Mortgage Shop…) which is great. We’ve also launched new developments at Rossdowan Court in North Down and Bloomfield Wood in Bangor plus a new exclusive range of Fairy Tale Cottages across our developments.

There’s lots happening and to make sure you keep in touch with what’s going on you can now follow us on Facebook and Twitter!

We’ll also keep you up to date on slightly quirkier things, which we feel are of interest; for example the design for the Roman Amphitheatre at Ballantine springs to mind; we’ll have that posted shortly.

The Request:

We’d also love to hear from you too, so have a look at our Facebook page or follow us on Twitter; best of all would be to say if you like it, and then tell all your mates!

The 20 sales have come across the 5 ongoing WJ Law schemes, including the multi award winning Ballantine Garden Village in Lisburn, and the new site at Rossdowan Court in Bangor.

Of particular interest has been the Fairytale Cottages available in most schemes – they can be viewed at www.wjlaw.co.uk/fairytale These include detached homes of enormous character, with names like Hansel’s Cottage, Gretal’s Cottage and even Rapunzel’s Cottage.

Several of the homes have been through the innovative “SMARTMOVE” scheme, where WJ Law have paid the buyers 25% mortgage deposit, making the home purchase possible for many young couples.

“We see lots of buyers looking for 3 things: Firstly Location, Secondly 4 bedroom detached homes, and thirdly character and quality – and it’s these 3 things buyers get from WJ Law – It’s not rocket science, its 20 / 20 vision!”

The select development of just 33 homes will contain exquisite designs based on the English country cottage – to include Hansel and Gretels’ cottages, Rapunzel’s Cottage, and Cinderella’s Cottage. Commenting on the plans, selling agent Victoria Murray commented; “The Fairytale Cottages are a very exciting concept. We expect demand for these remarkable homes to be strong with this new launch”.

W J Law also offer the “SMARTMOVE” scheme; where the buyers 25% Mortgage Deposit is paid. Buyers get a Mortgage Rate associated with a 75% loan, but only have to pay 3.75% deposit themselves. Managing Director David Law said; “Of 90 homes we sold in 2009, 60 were sold via Smartmove; after all, how many people have £50,000 to deposit lying around. It has made buying a home possible for many.” Also advisors from the Mortgage Shop have calculated that in addition to the small deposit needed, the typical monthly payments with SMARTMOVE are 47% cheaper than otherwise.

Following the huge success of nearby developments Lineybrook Court, South Circular Road and Avonmore Court at the Cotton, W J Law are certain that Rossdowan Court will prove equally as popular. The site is conveniently situated off the Gransha Road, within sight of Bloomfield Shopping Centre and the Ring Road.

Prices at Rossdowan Court will range from £185,000 for a 3 bedroom semi detached, up to £275,000 for a large 4 bedroom detached home.

The website for the scheme is: www.rossdowancourt.co.uk

For further information, please contact Estate Agents:
Pinkerton Murray 028 91479393