NO DEPOSIT REQUIRED!
Purchase a brand new property without having to put down a deposit at Riverbrook, Moneymore and The Westwoods, Cookstown. See our New Developments section for further information.
The Ulster Bank package is the Momentum Mortgage. With this, Rea Developments will pay your deposit and you only pay it back if your home grows in value by 5% or more after 5 years. In addition to that you have the added flexibility of choosing competitive fixed and discounted mortgages up to 95% of the property value and can choose a term that suits you (up to 40 years). There is also a free valuation included while you won't be subject to the higher lending charges which are normally charged for any mortgage over 90% loanto-value.
Another key factor in this hugely popular mortgage is that it also offers you protection against falling house prices, with Ulster Bank promising to reduce your mortgage by up to 10% of the original property value if your home's value has fallen after five years. The Mortgage Shop package allows you to buy your dream home now for just 75% of the purchase price but still own it outright!
All you do is pay 75% of the purchase price now, with the remaining 25% being secured by Rea Developments. Unlike other schemes, you don't pay any interest or rent on the outstanding 25%, for the first five years, and repayment is made when you sell or transfer your home or within 10 years (whichever is sooner).
Please contact our office for further information regarding this hughely popular scheme.
