Househunters in Dundee suffering from the credit crunch are being thrown a lifeline by a local developer to avoid stumping up large deposits.
F M Dundee has launched the option of a shared equity scheme on its luxury three-storey townhouses on the waterfront City Quay development which will mean buyers only need to shell out 75 per cent.
Buyers will own the property outright and will pay F M 25 per cent of the market value on resale or in 10 years time.
F M Dundee will also pay a contribution to the purchaser to cover the cost of legal fees, stamp duty, land tax and survey fee in some cases.
There are 16 townhouses available on shared equity terms in the current phase of this impressive development of townhouses and luxury apartments and penthouses.
George Solley, Director of Property Sales at Thorntons Property Services who are marketing the development said "This scheme addresses one of the major issues for home buyers due to the current restricted mortgage facilities available. For qualifying buyers, this scheme could provide an opportunity to secure a quality new build home without the need for a deposit. It allows for 100% ownership of the property with monthly mortgage costs related to 75% of the full price."
A fully furnished show home is available for viewing through Thorntons Property Services
01382 200099.
Issued by Beattie Communications on behalf of Thorntons Solicitors.
Contact: Kimberley Hamilton, Tel 01698 787878