DEPOSIT BOOST AS ELAN CELEBRATES MILESTONE IN SOUTHPORT

A HUNDRED new homes in Southport have been sold and as the transformation of the former factory site continues buyers are being offered a deposit boost.

Elan Homes began work to transform the 14-acre site of the former Philips Electronics factory on Balmoral Drive in late 2020.

The first properties at the development, known as Balmoral Gardens, were released for sale in early 2021.

Since then, it’s become a vibrant new community attracting mainly local buyers from Churchtown and the surrounding areas.

To celebrate the success of Balmoral Gardens, Elan has introduced a deposit boost scheme, available on selected new homes and potentially worth £17,500.

Marie Morris, sales director for Elan Homes in the North, said: “Over the course of the last three years we’ve completed 98 new homes at Balmoral Gardens and taken reservations on a further six. This effectively means we’ve now sold two thirds of the development. Homeowners include a good mix of first time buyers, families and downsizers. Personal recommendations have seen family and friends become neighbours, while new friendships have been formed amongst residents.

“We’re continuing to transform the former factory site and expect to be building new homes in Southport through to 2025. The good news for those thinking of moving here is that we’ve introduced deposit boost scheme to help buyers’ money go further. Put simply, if you have a 5% deposit, we could boost it to 10% by matching your deposit. This could improve the range of homes and mortgage options available to would be homeowners. With deposit boost, there’s potential to access more competitive interest rates, usually reserved for those with more substantial savings, and enjoy lower monthly mortgage repayments.

“Plus, because our homes are energy efficient, they can be purchased using green mortgages. These are available from selected lenders and in some cases have better interest rates than traditional mortgage products. Buyers can use the mortgage checker on our website to help work out how much they could borrow and how much their repayments would be without affecting their credit score.”

Current availability at Balmoral Gardens includes a choice of three and four-bedroom homes.

Among the homes available with deposit boost is a three-bedroom semi-detached Ripley, priced from £254,995. On this property the deposit contribution amounts to £12,500.

For those looking for a larger four-bedroom home, there’s the chance to receive a deposit boost of £17,500 when purchasing the Southwold, priced at £349,995.

The deposit boost offer is payable at the time of completion and is subject to lender’s criteria.

The new homes at Balmoral Gardens benefit from having schools, shops and other essential services within walking distance. The beach and Southport town centre are just a few miles away.

Show homes at the development are open Thursday to Monday.

For more information see https://www.elan-homes.co.uk/developments/balmoral-gardens.