Bourne (Lincolnshire) based housing
developer Larkfleet Homes has said it 'regrets' today's (5 July
2007) decision by the Bank of England's Monetary Policy Committee to
increase bank base rates. Interest rates went up for the fifth time
in less than year, hitting a 6-year high of 5.75 per cent.
Larkfleet managing director Karl
Hick said: "It is becoming harder not just for first time buyers but
also those already on the property ladder to buy and sell homes. It
is not uncommon in the housing market now to find 'chains' of five,
six or seven households in which everyone is waiting for everyone to
sell their home before anyone can move.
"Anything which makes mortgages more
expensive can only make the chains longer - and more likely to
To help would-be purchasers of its
new homes break free of their chains, Larkfleet has introduced a
number of schemes. People who sign up to buy a new Larkfleet home
may be eligible for:
A scheme where Larkfleet will
pay the estate agent selling the buyer's existing home an
additional one per cent commission, to provide an incentive for
a swift deal.
A 'back to back' scheme, in which Larkfleet appoints three
estate agents to sell the buyer's existing home and manages the
entire sales process.
A part exchange scheme, where Larkfleet will itself purchase the
buyer's existing home.
A 'helping hand' scheme which offers the buyer up to £500 of
accessories for the new home if he or she uses a member of
Larkfleet's nominated financial advisor panel to arrange the
mortgage and a member Larkfleet's nominated solicitor and
conveyancing panel to handle all the legal paperwork - helping
Larkfleet to ensure the sales process is swift and handled
without a hitch.
Larkfleet sales director Helen Jones
said: "The different schemes suit different circumstances - and, of
course, there are conditions which buyers must meet to make use of
any of them.
"Our aim, though, is to make the
purchase of a new Larkfleet home as swift and easy as possible.
Breaking the chain not only helps our own purchaser, it also means
greater certainty for the person moving into the buyer's old home -
so we can help to shorten that chain as well!"
Larkfleet is currently offering new
homes on developments in Bourne, Turves and Lincoln in Lincolnshire
and in Eye in Cambridgeshire. For details call 01778 391555 or visit
July 2007 -
Peterborough UK Community Website