Persimmon offers to double savings

Published:
15 July 2008
Topic:
News,Money,Mortgages

First-time buyers are being helped on to the property ladder by a joint venture between Persimmon Homes and mortgage lender Halifax.

The new Double your Deposit scheme helps first-time buyers bridge the gap between their savings and the minimum deposit needed for their home by offering them the chance to double their cash.

If savers make regular deposits of up to £5,000 with Halifax or Bank of Scotland for a minimum of six months and then use the money as a deposit on a brand new Persimmon home, the housebuilding firm will match the amount pound for pound.

David Bryant, group development director of Persimmon Homes, said: "This scheme is designed for any first time buyer, from students moving through further education, to people in their 20s and even 30s who have been unable to buy a home. Indeed, it can make a real difference in people's circumstances, on getting onto the property ladder or not.

"Not only will the Double your Deposit scheme allow more people to be able to afford a deposit for a new home, it actually encourages young people to save instead of spend."

Copyright © PA Business 2008

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