The Bank of Mum and Dad

It is now becoming common practice for parents to help their children onto the property ladder. The Bank of Mum and Dad is now the sixth largest lender in the UK and over a quarter of parents have used savings or released equity from their homes to help first-time buyers find the perfect property.

Leading Kent property developer, Pentland Homes is holding a dedicated ‘Bank of Mum and Dad’ event at its Mulberry Place development on Saturday 22nd February 10am to 4pm. Local buyers and their families are welcome to join the Pentland sales and mortgage advisors, for refreshments and to learn more about the various buying options available.

Choosing to buy a new home is a great financial investment. Taking the first step with a local developer such as Pentland is a safe bet, ensuring a hassle-free process, drawing on over 50 years of experience building in the south East.

The introduction of Help to Buy has helped families and individuals to take their first steps on the property ladder. The government led scheme enables you to be lent up to 20% of the cost of your newly built home, so you could only need a 5% deposit and a 75% mortgage. The scheme has helped nearly half a million people to date but raising the 5% deposit can still be a challenge.

Instead of initially saving for the deposit and potentially missing out on buying your dream first home, savvy buyers are turning to the Bank of Mum and Dad to get onto the market quicker. If parents or grandparents have a large amount of equity in their home or own it outright, it may be possible to re-mortgage it and gift the money released to family members.

All new homes at Mulberry Place have been designed to the highest standard and come with a
10-year NHBC structural warranty. Purchasers can expect contemporary open plan living space comprised of bespoke kitchens with breakfast bar, lounge and/or dining area. The versatile space is ideal for entertaining guests or busy young families, providing direct access onto a turfed garden. Each home also features underfloor heating on the ground floor, low energy lighting, USB charger points, fibre broadband infrastructure and Sky Q enabled TV wiring system.

Once one of the original Cinque Ports, the historic High Street in New Romney offers all the local shops and amenities you would expect, including independent coffee shops, restaurants, pubs, banks, a library, post office, supermarket and pharmacy. Excellent nearby transport links include regular bus services to towns such as Dover, Folkestone and Hythe and for commuters, there are high-speed services to London via HS1 and to mainland Europe via Eurostar thanks to nearby Ashford International station.

 

Properties at Mulberry Place are available from £270,000. Help to Buy is available. For further sales information, please contact Pentland Homes on Tel: 01797 361151 or email mulberryplace@pentlandhomes.co.uk