Equity loans of up to 30% of the purchase price of the desired new build property could be obtained by those fitting the scheme’s criteria.
The percentage of the loan is calculated depending on individual circumstances.
Those purchasing via the scheme may choose from a wide range of new-build properties offered by approved developers. The scheme allows purchasers a five-year interest-free loan, with no repayments due until year six.
Westshield’s Miry Meadow development in Chapel-en-le-Frith is currently the only development in the High Peak to have been approved by the scheme.
The company’s contemporary apartment scheme in Stockport, called Mac House, has also been approved.
Miry Meadow offers a choice of apartments, townhouses and mews cottages available to purchase from £149,950, or to rent with a view to purchase at a later date.
Those opting for the Rent then Buy deal qualify for 100% rent repayment.
Westshield also offers a 100% ownership for 75% of the price purchase initiative, with the remaining 25% financed by a five-year interest free loan.
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