Barratt offer loans to parents'
Barratt Developments have teamed up with Hitachi Capital (UK) to offer parents' of first time buyers unsecured loans of up to £50,000 to use as a deposit of an 80% loan to value mortgage.
Under the Hitachi Capital loan scheme, the typical buyer will need a deposit of 5% and the remainder of the purchase price can be met through an unsecured loan from
Hitachi Capital (UK) to the buyer's parents or legal guardian. The unsecured loan of up to £50,000 is available at a fixed rate of 5.4% for a period of 12 years. There are no early repayment charges and overpayments are allowed at any time with out penalty.
Parents' or guardians wanting to take out the unsecured loan can use, Barratt Homes, David Wilson Homes or Ward Homes. Applicants must be UK residents and have a good credit history.
January 14, 2011
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