How 1st Time Buyers Can Buy a WJ Law Home (even with no deposit)

W.J. Law are delighted that through Northern Ireland Co – Ownership http://www.co-ownership.org/ buyers can buy a W.J. Law home, even if they have no deposit.

Co Ownership allows 1st time buyers to buy homes below £175,000, and buyers with no deposit may seek the balance through the Ulster Bank. Buyers with some deposit are less constrained of course.

Based on buyers with no deposits, a £95,000 semi detached home at Summerhill, Banbridge will pay only £65 per week, whilst a detached “Stable Yard Mews” home at Ballantine Garden Village would be £112 per week; based on a list price of £175,000.

Buyers would be best to take care with the Mortgage Application, and W.J. Law can recommend 2 agencies whom we have found to give buyers the best chance of success:

The Mortgage Shop
17 Bow Street 
Lisburn
Antrim
Franchisee: Phil Convery 
Email: phil.convery@themortgageshop.net
Telephone: 02892 664123 
Fax: 02892 664126

Reeds Rains
Lois Keefe
2 Frances Street
Newtownards
Email: l.keefe@reedsrains.co.uk
Telephone – 02891 814144

Live Pricing Cost Per Week

WJ LAW host the first of their novel October events.

Saturday 16th October saw the NI Mazda MX5 Club come to Banbridge for a classic car event. Along with the Mazda’s were some 6 Catherham 7 cars, plus some half dozen from the Banbridge Old Car Club.

Leader of the Council, Jim Rodgers was on hand to issue some of the prizes, and with the delightful weather, all the convertibles were looking their best.

Several finished homes were available to view on the day, and some 200 people took the chance to see Summerhill, many for the first time. Commenting on the event, site manager, and MX5 owner, Colin Smyth said: “The site, the homes, the cars, and even some of the drivers were looking great!”

WJ Law are holding 2 more events in October; a Homebuyers workshop at Avonmore Court, Cotton, Nr Donaghadee; and a “Scary Saturday Halloween event at Ballantine Garden Village in Lisburn on the 30th October”

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.

The beautiful Fairytale Cottages are priced from £99,999 under the unique ‘smartmove scheme’ where the buyers have their 25% mortgage deposit paid for them by the developer. The 25% is free for 2 years after which a 4% charge applies, and it has to be paid whenever the house is sold, or within 10 years, whichever comes first.

The Fairytale Cottages are market leading, and combine all the benefits of a brand new home as far as being roomy, and very cheap to heat.

It is the appearance which is the real showstopper however, with most of the ideas inspired by iconic architects of the early 19^th century, such as John Douglas and John Nash, designer of Regent Street, Buckingham palace and our own Shanes Castle.