Bellway London Introduces Mortgage Support Initiative Amid Rising Living Costs

old royal chace bellway london

London’s property market is set to witness another exciting opportunity for potential buyers. Bellway London has announced its new initiative offering up to £24,000 towards mortgages for buyers in Greater London. The campaign, which runs from Friday, 8 September to Thursday, 30 November 2023, is designed as a financial boost, particularly considering the current inflationary pressures and rising living costs.

This is not the first time Bellway London has come forward with such a beneficial scheme. Between 26 December of the previous year and 31 March 2023, the housebuilder ran a similar initiative, which received an overwhelming response. Encouraged by its success, Bellway London is reintroducing the offer, aiming to extend its support to potential homeowners in the latter part of 2023.

Participating developments under this initiative span across Greater London, including prominent locations like Old Royal Chace in Enfield, Eastside Quarter in Bexleyheath, and St George’s Park in Hornchurch. Additionally, three developments in Barking—Eastbrooke Village, Fielders Quarter at Barking Riverside, and Fielders Quarter—are also part of the programme.

One of the families to previously benefit from this scheme is Oliver Newick and his family, who purchased their four-bedroom Scrivener house at Bellway’s Oxenden Park in Herne Bay. Oliver, a senior design manager, expressed, “Securing our dream home became a reality, thanks to the mortgage contribution scheme. Without it, affording this house would have been out of reach.”

Ian Gorst, Regional Chairman for Bellway London and South East, remarked on the prevailing property market dynamics, “Post the cessation of the Government’s Help to Buy initiative in 2022, the London property market continues to attract first-time buyers. Our mortgage contribution scheme is tailor-made to assist these buyers, ensuring they can secure a home in the heart of the capital.”

He further added, “Bellway London focuses on constructing homes that aren’t just aesthetically appealing but also attainable. The potential savings of up to £24,000 per buyer underline our commitment to making London living accessible.”

Furthermore, there’s a green bonus. Opting for a property by Bellway London ensures buyers move into energy-efficient houses. On average, these new builds can offer annual fuel bill savings of approximately £1,620 compared to older, similarly-sized properties.

In a move to make their homes even more energy-efficient, Bellway London has incorporated Google Nest thermostats as a standard feature in all their new builds. Studies by the tech conglomerate indicate that these devices can curtail energy bills by up to 16%.

To explore the developments included in Bellway London’s mortgage contribution scheme and for more details, visit Bellway London’s Official Website.

Property London

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