Specialist mortgage lender Pepper Money has unveiled a specialised mortgage proposition to support the First Homes Scheme —an initiative by the government to make homeownership more accessible for individuals and families.
The First Homes Scheme offers new build properties at a significant discount of at least 30% off the open market value. Furthermore, local authorities possess the authority to set even deeper minimum discounts of either 40% or 50% through local planning policy, catering to the diverse needs of the community.
The new mortgage proposition from Pepper Money aims to provide a viable solution for aspiring homeowners who have not experienced County Court Judgments (CCJs) or defaults within the last 48 months.
Paul Adams, the sales director at Pepper Money, emphasised the company’s dedication to facilitating positive societal outcomes and promoting financial inclusion for a broader range of customers. Adams stated, “Our Affordable Home Ownership proposition plays a vital role in this, and we are committed to helping even more Hopeful Homeowners to achieve their dreams.”
In an era marked by rising living costs and soaring property prices, the dream of homeownership has often felt elusive for many aspiring buyers. However, initiatives like the First Homes scheme, which offers substantial discounts on market values, provide a glimmer of hope for those yearning to step onto the property ladder.
Pepper Money’s First Homes mortgages, bolstered by their transparent criteria, personalised underwriting, and consistently excellent service, present the ideal solution for customers whose unique circumstances may not be adequately served by traditional high street lenders.
The launch of this dedicated mortgage proposition by Pepper Money underscores the company’s commitment to assisting Hopeful Homeowners in turning their homeownership dreams into reality.
By aligning with the objectives of the First Homes scheme, Pepper Money demonstrates a concerted effort to contribute positively to the community and foster a more inclusive housing market.
The First Homes scheme, in conjunction with Pepper Money’s competitive mortgage rates and accommodating criteria, seeks to empower more individuals and families with the ability to purchase their own homes.
As housing affordability remains a critical issue, particularly for first-time buyers, collaborations between financial institutions and government-driven schemes play a crucial role in bridging the gap and creating a more balanced housing landscape.
The launch of Pepper Money’s First Homes mortgage proposition brings renewed hope to aspiring homeowners, enabling them to take their long-awaited first steps onto the property ladder. As the company prioritises societal impact and inclusivity, they aim to facilitate positive change within the housing market by supporting government initiatives like the First Homes Scheme.
As the property market continues to evolve, such initiatives prove invaluable in making the dream of homeownership a reality for countless hopeful homebuyers across the nation.