Buy a new home with no deposit required

People looking to purchase a property in the current economic climate are finding it more difficult than ever before - especially as homebuyers now have to provide a substantial property deposit that many simply cannot afford.

A recent report issued by the National Housing Federation called ‘Home Truths East of England' implies that a generation has been locked out of the housing market with private rental prices expected to rise by 21% in the next five years and the average Peterborough property costing £155,751 - 8.2 times the average income.

The report goes on to show that even buying a property in the bottom 25% of prices in Cambridgeshire requires a salary of £31,071 to obtain a 75% mortgage and a deposit of over £36,000.

Bourne-based housebuilder Larkfleet Homes, part of the Larkfleet Group, has recognised this issue and is giving homebuyers a lifeline by offering a 100% mortgage deal that requires no deposit.

This offer is not only available to first time buyers. Those looking for a larger property to accommodate a growing family or a property in a new location to be closer to work can also gain from Larkfleet's offer. Both first and second time buyers can benefit from a 100% mortgage with no deposit to pay.

Larkfleet's offer is available on any Larkfleet house - but not on apartments or coach houses - for buyers with parents or grandparents who are willing to act as guarantors by allowing a second charge on their own home.

The Coppice in Deeping St James, The Old Laundry in Bourne, Lincolnshire, Parson's Prospect in Eye, Cambridgeshire and The Stable Yard in Oakham are just some of the Larkfleet developments where this offer is valid.

With increasing energy prices, Larkfleet Homes consider their properties to be an investment for the future. Company research shows that the energy-efficient nature of Larkfleet homes could save homebuyers up to £600 a year in fuel bills.