EVENT TO HELP WOULD-BE HOMEOWNERS BECOME MORTGAGE READY

EXPERTS will share tips on how to become “mortgage ready” at a special event for homebuyers in Lancashire.

Elan Homes has enlisted independent financial advisers RSC New Homes to help buyers understand what they need to do before applying for a mortgage and taking their first or next step onto the property ladder.

Taking place at Redwood Gardens, Marton Moss, and Tower Gardens, Darwen, on Saturday, May 2, the event will offer practical guidance on preparing financially for buying a home, what lenders look for and how buyers can strengthen their position before beginning their search.

Elan regional sales and marketing director Marie Morris said: “The idea behind hosting a mortgage ready event is to share expert insight to help give people the confidence to move forward with their home buying journey. It’s aimed at first time buyers and second steppers but other purchasers are welcome to attend. Independent financial advisers from RSC New Homes will be breaking down the mortgage process, sharing their knowledge with would-be homeowners. Our sales team will also be on hand to explain how we can support buyers through a range of incentives including deposit boost.”

Taking early steps to become financially and practically prepared to apply for a mortgage, can help buyers secure their preferred property and a competitive mortgage deal.

Andrew Mannion, group new build development director at RSC New Homes, explained: “Buying a home is a long-term decision and along with saving for a deposit there are lots of practical steps buyers can take to ensure they’re ready, such as making sure they’re on the electoral role, reducing debts, paying bills on time and having essential documents such as proof of income.

“The mortgage market is ever-changing, and the size of the deposit saved will affect the rate buyers can access. It’s also important to budget for other costs associated with buying a home including legal fees surveys and where applicable Stamp Duty.

“Lenders will assess income, regular outgoings and other financial commitments to determine how much a buyer can borrow. For example, because new homes are so energy efficient, bills are likely to be lower than in an older property, which could free up cash towards mortgage repayments. All of Elan’s new homes score the highest energy performance certificate ratings, meaning buyers could qualify for a green mortgage. These tend to offer better rates, the lender may offer cash back or buyers could find they’re able to borrow more because their bills are lower. We can help buyers understand what they can afford before applying for a mortgage in principle. All of this and more will be explained in detail during the mortgage ready event.”

At Tower Gardens, Elan has a choice of two, three and four-bedroom homes available. Current prices start from £204,995 for a two-bedroom Sutton Special.

Ideally placed between Darwen and Blackburn, the location has broad appeal. Lower Darwen Primary School is close by, making it an ideal base for raising a family.

There are plenty of opportunities to explore the outdoors nearby including Bold Venture Park and Jubilee Tower, which inspired the development name.

Over at Redwood Gardens, Elan is building three and four-bedroom homes, with current prices from £259,995 for a three-bedroom detached Bay style property.

Located on Redwood Boulevard, just off the A5230 and less than two miles from Blackpool Airport Enterprise Zone, considered one of the North West’s premier business destinations, the homes at Redwood Gardens are well placed to enjoy all that the Fylde coast has to offer.

There’s a choice of beaches within a 15-minute drive including Blackpool, Lytham St Annes and St Annes, all around four miles away. Cleveleys, Rossall and Bispham are also within easy reach.

Lytham’s famous green, boutique stores and a choice of restaurants are a short drive away, as are all the seaside attractions in Blackpool. Stocking up on household essentials is simple as there are a number of supermarkets nearby, including a Booths.

Selected homes at both locations are available with a deposit boost, which could help buyers access better mortgage rates, therefore lowering their monthly mortgage repayments.

For advice on how to become mortgage ready, join Elan and independent financial advisers from RSC New Homes at Redwood Gardens and Tower Gardens from 10am to 5pm on Saturday, May 2.

For more information see www.elan-homes.co.uk/developments/redwood-gardens or www.elan-homes.co.uk/developments/tower-gardens.