A recent collaboration between Perenna, Deposit Unlock, and Gleeson Homes allowed a customer to purchase a new build home without a deposit.
Gleeson Homes provided a 5% deposit, enabling the family to secure a 95% loan-to-value (LTV) mortgage through Perenna under the Deposit Unlock scheme, helping them move from a rental property into their own home.
Perenna offered a 30-year fixed-rate mortgage with stability in monthly payments and early repayment charges limited to the first five years.
The Deposit Unlock scheme allows home purchases with a 5% deposit, filling the gap left by the Government’s Help-to-Buy scheme.
John Davison, head of product, proposition, and distribution at Perenna, said: “We’re thrilled to see the collaboration between Perenna, Deposit Unlock, and Gleeson Homes make a meaningful difference for customers.
“In this instance, the customer benefited from a zero deposit because of Gleeson’s deposit contribution, a competitively priced higher LTV loan because of Perenna’s Deposit Unlock scheme, and increased affordability because of Perenna’s long-term fixed-rate mortgage, offering security as well as flexibility with early repayment charges no longer than five years.”
Steve McElroy, group sales director at Gleeson Homes, said: “Gleeson is delighted to work in collaboration with partners who share the same purpose of providing affordable routes to homeownership.
“As a major provider of high-quality, affordable homes across the North of England and Midlands, we remain committed to offering solutions that will enable more buyers to take their first steps on to the property ladder.”
